Exchange rates fluctuate daily, driven by political, social and economic events. Elections, budget announcements, and shifts in inflation or interest rates can all move the markets, and on a property-sized transfer, even a small movement can add thousands of pounds to your final bill. The good news is there are simple, proven ways to protect your money and secure a better rate. Here are our top tips for saving on your French property purchase.
Transferring money
High street banks are rarely the cheapest way to transfer money abroad. Their exchange rates are typically 1-2% less favourable than those offered by a currency specialist, and they often add transfer fees of up to £30 per payment. Some French banks also deduct further charges when receiving funds, meaning even less of your money reaches the seller.
Fortunately, there’s a smarter way.
A specialist provider like Forex Transfers offers a better alternative, sending and receiving funds in more than 35 currencies, with fast settlement to over 200 countries worldwide.
You can fix your exchange rate in advance, so you’re not exposed to day-to-day market swings, which can save you a substantial sum if rates move the wrong way.
There are no transfer fees, and the rates are far more competitive than the high street.
Opening a free account is quick and entirely online, and whenever you need help, there’s a real person on the phone, not a chatbot.
Speak to an expert
A currency expert can help you control your budget, understand the risks, and manage your payments to get the best possible value. One option is a forward contract, which lets you lock in today’s rate for a transfer up to a year ahead. So if you’re buying a property in a few months’ time and the rate looks favourable now, you can secure it, even if the market falls before completion. You’ll know exactly what you’re paying, in pounds, before you commit.
Alternatively, a market order tells Forex Transfers to exchange your money automatically the moment the rate reaches a level you’ve set, so you can target a better rate without watching the markets yourself.
You can also schedule regular payments, ideal for ongoing costs like a French mortgage, utility bills or property maintenance, with nothing slipping through the cracks.
And whenever you need support, real experts are on hand by phone, live chat and email, 24/5.
The result: a stress-free, secure way to make sure more of your money reaches your French property, not your bank.
To find out more, speak to an expert or open your free account today, visit forextransfers.com
