Whether you are moving permanently to France or have bought a holiday home, you will be confronted with the challenge of living between two currencies.
For example, you may buy your property with a mortgage in euros, but your income is in sterling, or you might also be retiring to France and you need to transfer your UK pension to France in euros to cover your living costs. In either case, you will have to make international money transfers on a regular basis.
Making regular international payments can be expensive, with international bank transfer fees costing as much as £20-£40. You will also be exposed to the rate fluctuations of the foreign exchange market, which will impact the cost of your mortgage or the value of your pension.
French Entrée works in partnership with Moneycorp to help you reduce risk and save money. With a Regular Payment Plan from Moneycorp, you will be able to fix the exchange rate on your payments for up to 2 years, which could potentially save you thousands every year by protecting you from exchange rate fluctuations.
You also stand to save hundreds a year on fees, as Moneycorp has an exclusive offer that guarantees French Entrée readers free transfers for life.
A Regular Payment Plan is easy to set up and can be custom made to fit around your needs. You set a schedule you want for your payments (weekly, monthly, or quarterly). The funds will be collected by Direct Debit from your UK account, exchanged and then sent to a bank account of your choice.
However, if you would rather micro-manage your payments, our online platform could be good for you.
With an online Moneycorp account, you can buy or sell 34 currencies in amounts up to £30,000 per transfer online, whatever the time of day. You can pay from home using your UK bank debit card. It’s easy to manage and monitor your payments, with a readily accessible record of the transactions you’ve made, and, you can save the payment details, making it quick and easy to make repeat transfers.
Not only can you make your life easier, but you can save money as well. Moneycorp’s exchange rates are typically more favourable than those offered by the banks. You can see the rate you will get instantly online, before you buy or sell your euros.
Being able to make a transfer at any hour of the day can also make a difference to your pocket. The foreign exchange market never sleeps and exchange rates change 24/7. To help you target the best possible rate at your leisure, Moneycorp offers a rate tracker; this will send automatic updates via email or text to alert you when the rate hits a level you have specified.
Just because you’re operating online doesn’t mean it’s impersonal. You can always pick up the phone and speak to an expert if you are uncertain about what to do, or if you need guidance on the best time to exchange your money. You can also receive daily brief emails to your inbox, keeping you abreast of the latest currency movements and allowing an insight into the possible future market behaviour.
Whatever your international money transfer needs, Moneycorp can help you to save money with our bank-beating exchange rates and excellent customer service. We waive all fees for French Entree members, so you stand to save hundreds on your regular transfers.
It’s free to open an account and there is no obligation to send any money.
Should you want to receive more information about rates and how to make the most of your international payments you can register for free with Moneycorp. Plus with FrenchEntrée you are entitled to FREE transfer fees on all your currency payments.
Mar Bonnin-Palmer is a Senior Key Account Manager at Moneycorp, a foreign exchange expert and a specialist in currency transfers for overseas property. For more information, please visit the FrenchEntrée Currency Page or call +0044 (0) 20 3773 6355.