Sending money overseas? Save with a currency specialist

Whether you’re planning to buy a holiday home, retire overseas, bring funds back to the UK or simply need to send funds to family or friends living abroad; you could save money with a currency specialist. Using your high street bank to make such transactions might seem like the obvious option. However, it could mean that you are unknowingly paying more than is necessary. Banks can be expensive as they do not typically offer the most competitive exchange rates or a personal service.

There is an alternative, one that could save you money

The Daily Mail has partnered with foreign exchange experts moneycorp, to bring our readers Mail Finance Money Transfers. Whatever your requirement, utilising the services of a currency specialist can provide you with a number of advantages over using your bank.

Competitive exchange rates

moneycorp offer exchange rates that are typically 3- 4% better than you would get from a high street bank. That difference could equate to a saving of up to £4,000 on an international payment of £100,000.

Low transfer fees

High street banks can charge as much as £20-£40 every time you move money overseas. With moneycorp, the transfer fees start from just £5 online, rising to a maximum of £15 if you arrange the transfer over the phone. What’s more, all Mail readers are offered their first transfer free of charge.

Personal service

The fluid nature of currency markets means managing positive or negative fluctuations in exchange rates can be crucial in determining the final cost of your overseas transfers. Such foresight often requires an in-depth working knowledge of the foreign exchange market, in particular the multitude of political and economic factors that can influence its performance. For example, the New Year has seen sterling suffer significant losses against the euro and US dollar, as hopes of a UK interest rate hike diminish and speculation surrounding the outcome of Britain’s in/out EU referendum mounts. With moneycorp every customer is assigned a personal account manager. Not only will they take the time to understand your requirement and talk you through the transfer process, they will offer you free expert guidance on the ups and downs of the currency markets – enabling you to make informed decisions around the optimum time to make transfers. Your dedicated foreign exchange specialist can explain the tools available to help protect you from negative rate movements, such as a ‘forward contract’. This allows you to lock in a current exchange rate you are happy with, for a transfer that happens up to two years in the future allowing you to budget ahead with confidence (please note that a forward exchange contract may require a credit facility).

Security

moneycorp is authorised and regulated by the Financial Conduct Authority for the provision of payment services and client funds are safeguarded in segregated client accounts. moneycorp have been in the foreign exchange business since 1979, and last year alone conducted £22.7 billion in currency trades across 8.1 million transactions.

What our customers say... “I have found moneycorp’s rates to be very competitive and the service very professional.”

Richard Scott, Daily Mail reader