If you need to send money to or from France, perhaps for property or maintenance costs, the timing of these transfers can be important. With exchange rates fluctuating constantly, this will affect the amount of euros you end up with. In December 2012, the euro went up by one and a quarter cents against the US dollar and fell by a third of a cent against the pound. Between 3 January 2012 and 3 January 2013 the euro’s gain was nearly two US cents and its loss against sterling was three and a half cents – these movements in the rate can make a difference to your finances.
Make it automatic!
Homebuyers who need to make a series of foreign exchange transactions on a longer-term basis can take advantage of tailored services to take the hassle out of these payments and ensure you get the most for your money. A foreign exchange specialist company, such as Moneycorp, offers a Regular Payment Plan service from the UK which is fully automated through direct debit. This service removes the worry caused by exchange rate fluctuations when making currency payments over a period of time. Your Sterling is collected by Direct Debit and the euro’s are automatically sent abroad.
The high street banks in the UK don’t offer this type of service and will typically offer a poor exchange rate and charge high fees. Regular Payment Plans can be specifically tailored for transactions like mortgage payments and pension transfers. A number of frequencies are available, ranging from weekly to annual and there’s even the option to fix the exchange rate for a set period of time.
Whatever the amount, if you need to send money to or from France to the, you will beneft from using a currency specialist. They will help you transfer your money at the best possible time, at the best possible rate.
If you have a question about your upcoming property purchase, or just want free guidance on the euro please click here .
Alternatively, you can call Moneycorp on +44 (0)20 3773 6355 for more information – quote French Entrée to receive NO transfer fees on all your currency payments.
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