Guarantee peace of mind this Christmas
Although it may seem early in the year to start discussing Christmas, much like our nation’s high street, we know that it is never too early to start preparing for the festive season. With this in mind, here currency firm Smart Currency Exchange outlines an important reason why it quite literally ‘pays’ to be prepared when Christmas rolls around…
Year after year Smart encounters clients who, despite aiming to complete on their overseas property purchases in the January, opt to ignore their currency needs until the very last mince pie is eaten. This is understandable when you have presents to buy, turkeys to baste and over-excited children to contend with however, last year just a quick phone call could have saved these clients upwards of £15,000 on their property purchase.
Let’s look at last year as an example – back in November 2012, the exchange rate sat at 1.253. This means that back at that time a €250,000 property would have cost the client £199,073. Many opted to forget about their currency needs and as a result saw the rates drop quite severely to 1.1640 in January 2013. This means that if they chose not to act before Christmas they would have ended up paying £214,843 for the same €250,000 property. A quick chat with their personal trader at Smart Currency Exchange could have saved them £15,770.
To ensure complete peace of mind this festive season, be sure to implement an effective currency strategy in advance so that you aren’t forced to be nervously checking the exchange rates come Christmas morning.
Smart Currency Exchange can help you to set up a forward contract which allows you to lock in a favourable exchange rate for the future so that when the time comes to trade you know exactly how much you are going to get for your money. This will ensure you don’t encounter any nasty surprises when you get around to transferring after all the festivities are over.
To guarantee you are prepared for any eventuality this Christmas, sign up for your free no-obligation account with Smart Currency Exchange today. Once signed up, you will be assigned your own personal trader who will listen to your currency needs and ensure you take the best route possible for you…leaving you with plenty of time to tackle that Christmas shopping!