When you're planning to buy or sell an overseas property, one of the things to think about is how you're going to transfer your required currency. Some people assume that your bank will be the best way to send funds cross-border, when in fact you could find yourself paying more than you need to. The saving you could make by using a specialist foreign exchange provider can be significant, which is one of the reasons we recommend our clients to use Foreign Currency Direct (FCD) for all their currency needs.
Not only can they offer competitive rates of exchange when compared to high street banks, they also understand the nuances of the foreign property market. Having helped thousands of clients to buy abroad, they're well placed to organise the transfer of your exchanged funds and can send payment directly to your solicitor.
FCD has a number of different options available to help you manage your currency exchange. For example, a forward contract which is an agreement to purchase currency for a date in the future without having to pay for it all up-front. You can lock in an exchange rate for up to a year in advance, pay a small deposit to us and then draw down your currency up to three months prior to the date you have booked your funds until.
Learn more about Foreign Currency Direct hereOpen an account
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