The Cost of Living Between Two Currencies

 
The Cost of Living Between Two Currencies

Whether you are moving permanently to France or have bought a holiday home, you might be confronted with the challenge of living between two currencies.

If you have an Euro Mortgage but your income is in Sterling you will need to cover your monthly Mortgage repayments in Euros. Equally if you have retired to France but you have a UK pension you might need to transfer your pension to France on a regular basis to cover your living costs.

Making regular international payments can be an expensive and an unpredictable. You will be exposed to the rate fluctuations so you might end paying a different amount every month for your mortgage plus banks might imposed wide margins on exchange rates and you could receive expensive charges on each transfer.

By using a specialist in foreign exchange you will be able to fix the rate on your regular payments for up to 2 years plus the transfer charges are considerably cheaper than a bank.

French Entrée works in partnership with foreign exchange specialist Moneycorp to help you reduce your risk and save money. To manage the cost of your regular payments, you can choose from a number of options to suit your requirements:

1.Fix the sterling amount – you’ll know how much sterling will be debited from your UK account for each overseas transfer. The amount of foreign currency you will receive in your overseas account will vary according to the exchange rate at the time of transfer.

2.Fix the foreign currency amount – you’ll know how much foreign currency will arrive in your overseas account every time. The amount of sterling debited from your UK account will vary according to the exchange rate at the time of transfer.

3.Fix both – you’ll know exactly how much sterling will leave your UK account and how much foreign currency will arrive in your overseas account. This option is available for a period of between 6 and 24 months.

You can also use Moneycorp Online to make your regular payments. This will allow you to manage and order your transfers with no need to phone your bank and with access to live rates. You can buy or sell any of 30 currencies from £50 up to £20,000, and send money overseas whenever you need to at the touch of a button.

Call Moneycorp on +44 (0)20 3773 6355 for more information – quote French Entrée to receive free transfers on all your currency transfers.

If you have questions about your upcoming property transfer or need free guidance on the euro click here or contact Moneycorp on on +44 (0)20 7589 3000 – quote FrenchEntrée to receive free transfers on all your payments.

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Mar Bonnin-Palmer is a Senior Key Account Manager at Moneycorp and regular contributor to French Entrée Magazine. During her career as a lawyer based in London dealing mainly with British clients buying a property in Spain, Mar became very familiar with the process of purchasing abroad. Since 2006 she has been fully devoted to foreign exchange, dealing with private individuals and companies that need to make international payments.

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