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What are the benefits of using Foreign Exchange?
Whatever the reason for your property purchase it is easy in the excitement to forget about the boring things involved like how best to transfer the funds to pay for the place. You will need foreign currency and if the wrong transfer method is chosen you could end up a few thousand pounds worse off! Finding the best exchange rates and methods of transfer can make a big difference to the amount you actually pay.
Foreign Exchange versus The Banks
This is where Foreign Exchange companies can help. They are able to offer
numerous benefits over using your high street bank, while making the process of
buying property relatively easy. The main advantages are as follows:
 | Can offer the most competitive exchange rates available, saving you money. |
| Lower transfer fees than many banks. |
| Can transfer your money more quickly than many banks. |
| Do not charge commission. |
| Can protect you from adverse currency movements, allowing you to lock in to favourable exchange rates, thereby fixing exchange rates for settlement in the future. |
| Give a more personal service with friendly, expert staff on hand to guide you through the process often available outside normal opening hours of banks. |
For further information about the products on offer from Foreign Currency Direct Plc please click on the link below, but to summarise these are:
Spot Contracts
- whereby you purchase currency 'on the spot', at the exchange rate of the day.
Forward Contracts
- whereby you 'fix' an exchange rate up to 2 years ahead so you aren't affected adversely by currency fluctuations in the future.
Visit the Foreign Currency Direct Plc website for more information: www.currencies.co.uk
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