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Posted June 15th, 2011 by Charles Purdy

Top 6 reasons to use a specialist rather than a bank to move your money

With more and more people moving abroad or buying a second home in a foreign country, the demand for quick and easy currency transfers has gotten greater. Many people will still just assume that their bank is the best place to go for currency and/or to transfer money overseas. They are wrong. There are now many companies who specialise in foreign currency exchange and who can offer rates of up to 4% better than the banks offer. Below are the top 6 reasons why using a specialist company can be better than using a bank.

1) It saves you money: A specialist can give you a rate for your currency that is nearly 4% better than what the high street banks can offer. If you are moving a lot of money this small percentage soon adds up, for every £10,000 you move, a specialist can save you up to £400!

2) It saves you time: A bank transfer will usually take around 5 working days to be completed. This is a long time to wait, especially if you are in need of the money quickly, i.e. to pay a deposit or a mortgage repayment. Specialists such as Smart Currency can have your money transferred within 1-2 days once the funds have cleared. The transfer can also be arranged over the phone by talking to a trader, saving you the hassle of going to the bank yourself.

3) It has specialists: If you decide to use a bank to move your money, don’t expect anything other than that! Banks are not able to give advice on the market, mainly because the staff are not trained specialists; they will give you one rate and you either take it or leave it. A specialist does exactly what it says on the tin; they have traders who are experts and have a wealth of knowledge regarding the exchange rate. They will be able to advise you on your purchase and suggest different contracts that will help you to get the best deal for your money.

4) It can minimise fees: Banks will often charge to make payments abroad, and they will do nothing to help you get out of paying these charges either. Smart Currency can help to minimise these fees and sometimes even eliminate them completely.

5) It offers a better service: Banks are able to move currency for one reason only; it makes them money. They do not have the customers’ best interest at heart, and they cannot offer any specialist services when it comes for foreign exchange. A specialist like Smart Currency is able to offer the following, which you will not get with a bank:

•  Dedicated Trader.

•  Direct Phone Line.

• Specialist Employees.

•  Daily and Weekly Currency Notes.

•  Strategy Planning.

•  Advice.

6) It offers different currency plans: Depending on when you want to move your money, Smart Currency can offer different ways of purchasing the currency, including order to buy, forward contract and spot contracts.

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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