An unexpected – but easy – way to save money when moving abroad
When Neil Poyner and Marie Dolan left Banbury, Oxfordshire, for a new life in St Paul Lizonne in France’s Dordogne, they saved a considerable amount of money by using a currency exchange specialist. And still today the couple continue to make savings – by using the same currrency specialist to send money between their bank accounts in the UK and France.
These savings have made the Poyners’ new adventure all the more enjoyable. The couple both gave up salaried management positions in the UK in order to take on a new challenge – running a holiday cottage, Le Raphael.
Today we hear how Smart Currency Exchange help to make Neil and Marie’s regular currency transfers quick, easy and painfree…
“We live in an old stone house, lovingly restored and furnished with a beautiful 400 year old feature fireplace. The barn adjacent attaches to LeRaphael – our rental cottage. We are in the process of creating a new studio space, called L’Oceana which encompasses many recycled original features”.
“Our first currency transfer through Smart was for the balance payment of £25,000, which was required to buy our French home. The exchange rate for the euro was very poor at the time, at a level of around €1.12/£1 so we needed to maximise our purchase by getting the best rate that we could find. The cost of properties, swimming pool and gardens at the time, in November 2010 was £230,000”.
“We make regular purchases of euros, typically on a monthly basis, to ensure we have adequate funds in our French Bank account. My pension and our rental income is paid into our UK bank account which we then use to buy euros to fund our day to day living. In the last month we have purchased nearly €13,000 to pay on-going project costs.
The couple elaborated on what it is that makes them so happy to use Smart: “James Thorpe is our trader and he is ably backed up by David Comber. Both help to make our regular monthly payments pain-free and efficient. Smart’s service is so easy to use – I can ask for a price, receive an answer, agree to the deal, pay and have the money in our French bank account in as little as two days. Having a trader assigned to you is a really good idea as it provides you with a first line of contact and allows you to establish a professional relationship and rapport”.
“Before acting on our estate agent’s advice and using Smart, we had considered using a bank, but the difference between the rates that a high street bank can offer and what Smart can do means that in practice it’s just not a competitive option”.
For more information on how Smart Currency Exchange could save you money when sending money between the UK and your overseas account, download their free report here.
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