Moving back to the UK?
No one permanently moves overseas with the intention of returning to their country of origin, yet best laid plans can go awry. The most common reasons for Brits to move back to the UK include the loss of a spouse, homesickness or health matters. In many cases the move is a necessary evil and needs to happen quickly and efficiently. During the rush to get things done many people that repatriate make costly mistakes.
One of the most expensive mistakes made is to transfer large sums of money (e.g. proceeds from the sale of a house or savings) through a high street bank rather than an international payment specialist. Aside from saving thousands by getting better exchange rates (euro or any other currency to GBP), your funds will be transferred quicker and with reduced fees when using Smart Currency Exchange. Furthermore, if you want to guarantee that the sum you have to transfer doesn’t depreciate in value – say, between now and next month when you’ll move the funds – you can reserve a set exchange rate today knowing the exact amount you’ll get in a month’s time.
For example, after living overseas for 3 years, Mr and Mrs Jones decided to return to the UK to help their daughter raise their first grandson. The Jones’s loved their life abroad yet they yearned to be with their family and didn’t want baby Alex to grow up without close contact from grandma and grandad. They sold their main overseas property to make enough money for a home in England.
After the sale of the property, they made a nice profit to move back to England. Armed with a total amount to be transferred, the Jones’s decided to weigh up their options to transfer the funds back to the UK. When comparing the end amount that would be deposited in their UK sterling account between a Bank and Smart they discovered a substantial difference. The choice was simple; by using Smart they gained over £7,000 more than if they used their bank.
The Jones’s, however, had a slight snag. They could only move the funds in two month’s time. After a discussion, the Jones’s discovered that they could reserve at today’s excellent rate yet move the money in 2 month’s time.
Repatriation is an involved process and there are hundreds of things to consider. When it comes to moving money internationally – especially large lump sums – it pays to enlist the help of Smart Currency Exchange. Not only can the Smart Traders help to get excellent exchange rates, they have systems that allow for quick and efficient transfers. In most cases funds can be in the UK within 24 hours of instructing the transfer to take place.
In order to ensure that you know how to save money during your overseas moving process, call Smart on 0207 898 0541 or go to: http://www.Smartcurrencyexchange.com
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