Save money on your international currency transfers

If you are planning to emigrate abroad, buy a holiday home in the sun or want to send money to friends and family overseas, you will need to make an international money transfer.

This is based on an exchange rate comparison taken on 1st October between Lloyds (1.25280), RBS (1.25170), Barclays (1.24590) and moneycorp (1.2777) Please note that there are additional costs with the service moneycorp transfer fees from £5 online -£10 over the phone compared to high street banks who typically charge between £20-£40

Many people would rely on their bank for this, but if you use Mail Finance Money Transfers, you can typically expect to receive a rate that’s 3-4% more competitive than you might get from a high street bank. On a transfer of £100,000, this represents a substantial saving of up to £4,000. And you’ll often pay lower fees for the transfer too, as low as £5, compared to a typical bank transfer charge of £20-£40.

With Mail Finance Money Transfers, provided by currency specialist

moneycorp, you will be allocated a personal account manager. They will be able to offer Foreign exchange Market guidance to help you make the most of moving your money overseas.

Expert guidance can be invaluable in the foreign exchange market. Exchange rates move constantly – in 2014 a pound would buy €1.19 at its lowest level whereas in March 2015 the pound hit a seven-year high of €1.42. If you were exchanging £100,000 Into euros, that’S a difference of €23,000 between the lowest and highest rate in just over a year.

Your account manager can help you plan for future transfers. If time is on your side they might offer a “forward contract”. This allows you to fix an exchange rate that can then be applied to a transfer for up to two years.

For example, over the last three months the £ to € rate has fluctuated by 12%. This means if you had spent time negotiating a 1-2% discount on a property purchase, by the time the sale was completed, your new home could end up costing 12% more. With moneycorp you can use a ‘forward contract’ to protect yourself from negative exchange rate movements.

The service can be used for regular transfers too. A regular payment plan comes with the ability to fix exchange rates for up to 24 months, but for payments which are set at your own schedule. So it’s easy to manage your recurring international payments- such as mortgages, pensions and salaries- without having to worry about exchange rate fluctuations.

AS with any financial transaction, It IS important to know that your money is safe. moneycorp, who provide the Mail Finance Money Transfer service have been in business since 1979 and are authorised and regulated by the Financial Conduct Authority for the provision of payment services. In the last year alone they handled 9.2 million customer transactions and traded £13 billion in nearly 100 currencies.

Whatever your reason for moving money overseas, you could save money with Mail Finance Money Transfers.

For great rates, low fees and expert guidance call 0808 271 9482.