Figures from the latest United Nations migration report* indicate that more than 5million people born in the UK have emigrated overseas.
Many of them will need to send money back to the UK from abroad. They may be paying school or university fees, supporting a mortgage on their British home or selling a property overseas and need to repatriate the funds. Some may be returning home after working or retiring overseas.
Whatever the reason for sending money back to Britain, you will need to exchange your foreign currency for sterling. And to make sure as much money as possible comes back home, it’s important to get a highly competitive exchange rate.
Most people think of their bank as the first port of call for international payments, but this could be an expensive choice. Did you know you could be paying more using a traditional high-street bank?
Fortunately, there is an alternative – foreign exchange expert’s moneycorp offer you bank-beating exchange rates, free expert guidance and low transfer fees.
The exchange rates available from moneycorp are generally 3-4pc better than you will be offered by your bank. This could make a real difference on the amount of sterling that arrives back in your account, especially if you are transferring a large amount having sold property overseas.
The currency market is the biggest market in the world and exchange rates are constantly moving – if the rate moves against you before you make your transfer, it could have a big impact on the amount of sterling you’ll receive.
Every client who signs up for an account is given a personal account manager to help with their transfer. Your account manager will provide expert guidance on the fast moving foreign exchange market and is on hand to help with every aspect of your transfer.
In addition to highly competitive exchange rates and expert guidance, the transfer fees can also be cheaper. Banks typically charge between £20-£40 each time you make an international payment, while moneycorp’s fees start at just £4 online rising to a maximum of £10 for a telephone order. If you’re making regular monthly payments, this could save you up to £432 over a year on the transfer fees alone.
For competitive exchange rates, low transfer fees, expert guidance and the special offer of your FIRST TRANSFER FREE call moneycorp on freephone 800 785 011 or visit www.moneycorp.com/algarve
