The market is pretty flat today, with GBP/EUR at €1.32 and GBP/USD at $1.44. There’s little market data today and therefore exchange rates are likely to remain flat.
I thought I would touch on another area of the market I can help with: Making Regular Overseas Payments…
Many of my clients initially use my services for making a large transfer for purchasing property overseas. Once purchased however, clients will often need to top up their overseas Euros accounts for things like paying bills, living expenses, holidays, servicing a mortgage or paying for ongoing renovations of their new property. We don’t only assist with larger foreign exchange requirements; we can assist in smaller transfers too, and the 2 options are as follows:
Regular Monthly Payments
Simply doing this through the bank can prove very costly. We all know that the rates of exchange the banks usually offer are low, however the transfer charges are also very high, and the actual transfer can take a long time.
Using my services for this type of regular transfer is very simple. Simply set up a standing order for however much you want to convert each month, and we look after the rest ensuring your Euros are transferred to your chosen account quickly and securely. The only cost is an £8.50 transfer fee and there are no commission charges. Because we combine hundreds of clients’ smaller transfers together and buy the Euros in bulk, you achieve an excellent commercial rate of exchange even for amounts as low as £500 per month.
The advantage of this option is once set up, you don’t need to do anything and your transfers happen automatically. You can amend or cancel the arrangement at any time by simply contacting your bank and amending your standing order.
Online Trading Platform
Some clients prefer to pick and choose when they convert their funds; our online trading platform is perfect for this and is designed for amounts from £500.00 to £10,000.00. Available 24 hours a day 365 days a year, you can log on and see your live trading price at any time, and book the rate when you choose to do so. This gives you lots of flexibility in terms of timing, without having to make any phone calls or call the trading floor.
Large volume transfers
We still deal with larger transfers from £5k to £10m, and on these larger volumes we are negotiating rates directly with various commercial sources, achieving rates that are as close as 0.3% below the ‘mid-market’ interbank price. Most brokers rates are around 1 to 2% below this, and banks as much as 4% to 5% below. On a typical purchase of €300,000.00 you could save thousands of Pounds.