Six top tips for send­ing your money abroad

If you’re think­ing of buy­ing a house in France, there are many things you can do to help you get the most eu­ros for your pound. Charles Mur­ray gives his in­sider tips and ad­vice

Living France - - LES PRATIQUES -


A for­ward con­tract al­lows you to book and fix cur­rency at to­day’s ex­change rate, for a de­liv­ery date in the fu­ture. For­ward rates can be fixed up to two years in the fu­ture.

This works well if you have a fixed bud­get or a value in mind that you do not wish to ex­ceed. Bud­get­ing with a for­ward con­tract gives you peace of mind, know­ing that your property’s cost will re­main the same even if mar­kets move.

The stan­dard de­posit is 10%, and you can ar­range to draw down in in­cre­ments from the full amount if you re­quire your funds in stages, in­cur­ring no ex­tra costs. This is use­ful for reg­u­lar pay­ments such as pen­sions and mort­gage trans­fers.


One of the pit­falls clients can fall foul of is not leav­ing enough time for the trans­fer of funds to reach a for­eign ac­count. We urge clients to work within a week’s time frame for a pay­ment to be made to a for­eign ac­count. In re­al­ity, the trans­fer of cur­rency will only take 24 hours,

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