Benefits of using a foreign exchange specialist

Benefits of using a foreign exchange specialist

By John Kinghorn from moneycorp

If you’re sending money overseas, you may think using your local bank is the most convenient and efficient option, but working with a currency exchange specialist can give you access to great value rates and services that your bank may not be willing to provide. In addition, a specialist can offer expert guidance to help you navigate the fluctuating currency market.

As an ex-pat, you could have a number of reasons why you need to convert currency, and accessing great rates and avoiding high fees could have a significant impact on the money you receive for any of the following:

·         Buying a home in Australia;

·         Converting UK rental income into Australian dollars;

·         Repatriating Australian dollars back to the UK;

·         Receiving your pension payments;

·         Transferring money to friends and family overseas.

As well as great rates and lower fees than most high street banks, a specialist can also offer a range of product solutions to help you manage all your foreign exchange requirements

·         Spot contracts for urgent payments which allow for same-day exchange and transfer;

·         Stop-loss orders to prevent against precipitous drops in the exchange rate;

·         Rate targeting and tracking to help you make the most of your money ;

·         Regular payment plans to fix rates and collect funds from a UK account by direct debit for overseas payments;

·         Easy-access online account management, supported by an expert team available on the phone.

Get started with moneycorp

moneycorp offers all our clients a professional service that helps you transfer money across borders and let you get on with enjoying your new life in Australia. It’s free to register for a moneycorp account and you can do this online by clicking here.

You can also read more information here on the Poms in Oz currency page – https://www.moneycorp.com/uk/campaigns/partners/pio/

Moneycorp is a reference to TTT Moneycorp Pty Limited which is registered in Australia (business number 116612858).  Its principal place of business is Level 15 Exchange Tower, 2 The Esplanade, Perth WA 6000, Australia. TTT Moneycorp Pty Limited is authorised to deal in foreign exchange contracts and buy/sell quotes to retail and wholesale clients as an Authorised Representative (reference number 445555) of Rochford Capital Pty Limited (AFSL License No. 361276).