If you’re moving money to or from France you’ll want to get the best return possible on your currency transfers. But how do you make sure you get the best rate? We asked Calum Harkiss at Currencies Direct who have been helping people maximise their currency transfers for almost 30 years, to explain the process why timing is important when transferring money overseas…
The currency market is always moving, so picking the right time to make a transfer can be tricky. Even a seemingly small discrepancy in the exchange rate you secure can make a massive difference to how much you receive, and rates can shift by as much as 5% in a matter of weeks.
Over the last ten years we have seen several historic shifts in the currency market due to events like the EU referendum, Covid-19, Brexit, the war in Ukraine and (most recently) the turbulent political situation in the UK.
In 2022 alone the GBP/EUR exchange rate has seen a wide range of fluctuation. Over a short period of time, if you had £100,000 euros to transfer you would have received €121,000 at the higher rate, but €6,000 less when exchange rates were at their lowest. When you transfer money through Currencies Direct, we’ll provide, and agree, an exchange rate with you over the phone, online or via our app. We can help you buy currency to use at a later date, we set rate alerts and we send your currency as soon as we receive your payment. It’s simple.
No transfer fees for your currency transfers
And it’s not just the timing of your transfer that’s important, the exchange rate you receive can be very different depending on the provider you use to move your money abroad.
While most banks will offer you uncompetitive exchange rates and tag on transfer fees, as a leading currency provider, Currencies Direct will make sure you receive exceptional exchange rates, potentially saving you thousands on larger transfers.
What’s more, we don’t charge transfer fees and we offer a range of specialist services to help make your money go further.
Whether you want to fix an exchange rate ahead of making a transfer, buy currency in advance or target an exchange rate higher than the current market level, Currencies Direct can help. currenciesdirect.com
Find out more and get advice at: currenciesdirect.com or contact Calum Harkiss: +33 (0) 631 559 607 or email calum.h @ currenciesdirect.com.