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Posted October 5th, 2011 by Charles Purdy

Why you should use a currency exchange specialist?

When it comes to moving your money abroad, your initial thought may be to go straight to your local high street bank or post office to get the best exchange rate. Unfortunately, this is often the worst thing you could do – banks, being large institutions, tend not to offer the best exchange rates and their customer service is impersonal.

Your other – and recommended – option is to use a currency exchange specialist. You might envisage these as being run by men in suits, working in London, doing their best to get money from you. But actually, they tend not to be like that and Smart Currency Exchange is a good example of this. Smart Currency Exchange provides a service which helps you to get the most from your money when you make overseas transactions. Here are some of the ways in which they do this:

• Better Rates: Smart Currency Exchange can often offer rates which are up to 4% better than what the banks can offer. If that doesn’t sound like much, consider the amount you are moving –  4% can equate to a £4,000 saving for every £100,000 you transfer.

• Lower transfer fees: You will find that most banks charge a fee to transfer your money to a foreign account. This fee can be anything from £25 upwards, depending on the amount you are moving and where in the world it is going. Smart can help to significantly reduce and sometimes eliminate these fees for you.

• Smart solutions: Smart has a range of contracts that allow flexibility in the way you buy currency. This could be by fixing a rate today to use in the future (forward contract) or asking your trader to make a transfer only once a specified exchange rate is achievable.

• No Commission: The traders at Smart do not earn commission for themselves – they must hit team targets. This means that to a Smart trader all clients are as valuable as the next one, whether they are transferring £1,000 or £1,000,000. 

• Expert advice: Call Smart any time and they will be more than happy to talk with you about moving money abroad and buying currency. This is regardless of whether you are wanting to do it the same day, or merely thinking about it. Our traders are always on hand to help and advise and can give you an insight into the market rates that banks do not offer. No matter when you are moving your money, the Smart traders will make sure you get the best rate possible.

• It’s quicker: Smart can transfer your money in just two days, whereas with a bank you could be waiting anywhere between 5 and 10 days for the transfer to be completed.

Needless to say, when it comes to putting a deposit down for your new property abroad, or indeed paying a mortgage abroad or anything else money related, going to a specialist will benefit you greatly.

 

If you haven’t yet collected your FREE report from Smart on "Why Overseas Property Buyers Lose Money… and how YOU can avoid it" get it here

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