If you’ve made your dream of relocating to France a reality, you’ve doubtless had to navigate all sorts of lifestyle changes. Between the new language, the improved climate and typical new house admin, there are plenty of exciting challenges on your plate. One thing that you may have taken the easy route with is moving your money.
You may have committed to spending the foreseeable future in France by transferring all of your finances into euros already, or you may have a pension back home that you’re drawing on regularly. Maybe you still have assets back in your home country, or family you’d like to send money back to, or income from outside of France?
Living in France is an adventure, full of new experiences and fun to be enjoyed, so it’s no surprise that many people don’t invest much time into choosing their currency exchange experts. Chances are you used your own bank for your currency needs, thinking the convenience compensated for the additional cost. Today we’re going to talk about some of the benefits of using a currency exchange expert when you’re living in France.
More predictable value
By using a currency broker rather than your bank you can have better oversight of the market and how much your currency is actually worth, whether you’re moving money into France, back home, or anywhere else. In fact, some brokers even offer what is known as a forward contract which allows you to fix a rage of exchange for up to two years, so you’ll know that any regular amounts you send won’t cost more or be worth less than you expected.
When you enlist the expertise of a currency broker you get access to their specialised knowledge of the money market. They can provide guidance on the movements and trends in the currency market and the specialist currency tools available to you , so you can make informed decisions about your hard-earned cash.
Knowledge at your fingertips
Our recommended currency partner, moneycorp, has a fantastic app for their account holders, where they can see the exchange rates on their phone with just a few taps. This near-instant access to currency information is especially helpful when drawing large amounts of cash but is equally handy if you need to ping over ad-hoc amounts. If you’ve got family back home who need a bit of cash, for instance students, you can know how much that amount will cost you in seconds.
Using a currency broker can give you access to other benefits. For example, our currency partner, moneycorp, has a fantastic pre-paid travel card which you can use for return trips home, or holidays. They also offer FrenchEntrée readers transfer-fee free international payments for life, which could save you as much as £40 a time, according to Money Saving Expert.
Managing your money well could make a huge difference to your quality of life in France, so it’s really important to make sure your currency is in good hands. We’ve worked with moneycorp for over a decade, and we even use their service ourselves. Find out more about how moneycorp helps expats living in France.