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how to secure a favourable exchange rate

Foreign Currency - how to secure a favourable exchange rate

expatriate foreign exchange currency advice

If you are an expat making international money transfers you should definitely consider the benefits of using a currency specialist.

To begin with, you'll save money by getting a better exchange rate on each and every transfer you make. On average, mystery shops undertaken in the media show that the high street banks charge up to 4% more to exchange your money.

Secondly if you use your bank regardless of whether you have a premier account, you'll be subject to a number of additional bank charges which include: - commission fees (up to another 2% of the amount your transferring, - transfer charges (usually £25 for each and every transfer) - and finally depending on where you're sending the money up to another half a percent bank receiving fees.

Most currency specialists will transfer your money abroad completely free of charge.

Fluctuating currency rates can seriously affect your wealth. For example British expats paid in Sterling but living in the Eurozone have seen the value of their salary decrease in the last 12 months by over 20% purely off the back of the weak pound. Currency specialists will allow you to lock into favourable exchange rates for up to 2 years protecting your money from adverse currency movements.

Last but by know means least there's the service aspect. Good currency specialists will provide you with all the help and expert advice you need in simple jargon free language.

Whichever country you're living in, the advice is simple. Don't let the banks cash in! Shop around and compare the rates given by your bank with an established currency broker.



Expat Health Insurance Partners


Aetna

Our award-winning expatriate business provides health benefits to more than 650,000 members worldwide. In addition, we have helped develop world-class health systems for governments, corporations and providers around the world. We want to be the global leader in delivering world-class health solutions, making quality health care more accessible and empowering people to live healthier lives.

Bupa Global

At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.

Cigna

Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.