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Q: Moneycorp - Make savings on international payments
A: MoneyCorp offers foreign exchange service which helps you to save money when sending funds overseas. For further information on Moneycorp, and how they can help save you money, visit Moneycorp or call them on 020 7589 3000.

Buying a property abroad is often the realisation of a personal dream and probably represents one of the greatest expenses of your life. As part of the purchase process, you will inevitably need to transfer a sterling sum into another currency in order to pay for your property. This vital element of the purchase process - one that is often overlooked - can make a huge difference to the price, in sterling, that you will have to pay for your dream home. Exchange rates change constantly and 10% fluctuations in a relatively short space of time are not uncommon. This could effectively increase, by 10% or more, the sterling amount that you will have to pay.

There are various organisations that can convert your sterling into whichever currency you need. Specialist currency dealers will normally offer you a better rate of exchange than your bank and provide a more personalised service. Foreign exchange companies like Moneycorp often offer a proactive service to their clients, using their expertise to monitor exchange rates on the clients' behalf in order to achieve the best possible rate of exchange.
If you ask your bank to send the money you should expect them to charge you for doing so. The local bank may also make a substantial charge for receiving the money. A reputable currency trader may well be able to reduce those overseas charges substantially by sending the money via a cheaper route.


Your currency can be delivered any time within two years at an exchange rate fixed at the time of purchase. This is called 'forward buying' and it will help you secure an exchange rate at an advantageous level even if you do not have all your sterling available to transfer at the time of purchase. Forward buying removes the risk of adverse currency movements that could lead to the sterling value of your overseas property increasing between the time of signing and the contract and the actual payment.

 

Automate your regular overseas payments saving yourself time and money

Take a deep breath and relax; you no longer need to check your diary or telephone your bank to check that your monthly overseas payment has been made. You don't need to worry about the exchange rate that you will get and if enough money will arrive to cover your obligations at the receiving end.

Whatever your reasons for making regular payments abroad, perhaps to make repayments on an overseas mortgage, or to receive your pension in your new home country, you can rest assured that Moneycorp will make it simple. You can wave goodbye to poor exchange rates, high transfer fees, overseas bank charges and lengthy delays. It pays to use the experts. Moneycorp has developed the Regular Payment Plan to save you time and effort and, as always, to save you money. Your peace of mind is assured, because you can forget about your international payments while we make them happen. Each and every month.

Using Moneycorp, you will benefit from:

  • A great rate of exchange, low transfer fees and no receiving bank charges, saving you money on each and every transfer
  • Conveniently automated payments made by Direct Debit, removing the inconvenience of having to arrange individual payments through your bank
  • A clear payment schedule detailing exactly when payments will be made

The Regular Payment Plan is flexible enough to accommodate your chosen payment schedule and may be customised further to suit you, offering the following three transfer options:

Option 1 - Fix the monthly Sterling amount to transfer
Using this option, the Sterling amount that you transfer remains the same each month, while the foreign currency amount that you receive varies according to the exchange rate at the time of transfer. This option would be suitable if you have a fixed amount of Sterling to transfer each month; a pension, for example.

Option 2 - Fix the amount of foreign currency you receive each month
This option allows you to fix the amount of foreign currency you receive in your overseas bank account each month. A variable amount of Sterling will be debited from your UK account each month, according to the exchange rate at the time of transfer. This option guarantees that you will meet your fixed monthly payment obligations in your destination country each month, such as mortgage repayments on an overseas property.

Option 3 - Fix the exchange rate for all your payments
If you fix the exchange rate for all of your future payments, you will know exactly how much Sterling will leave your UK bank account each month and how much currency will arrive in your overseas account. This option enables you to predict and plan both the amount you send and the amount you have to spend at the other end.

This option is available for payments between 6 and 24 months in the future.