The Pound is notably low against most major currencies at present although we did see a minor fightback and a little improvement during trading today.
With this in mind it is now even more important than ever for those looking to buy a property overseas or those business’s that purchase supplies overseas to make sure they are getting the most out of their currency exchanges.
If you have used the same broker for a long time, if an agent has referred you a broker or if you are using an online platform then this certainly means it is time to make a comparison as all three can lead to you not getting the most for your money.
When you renew your car insurance each year you always check elsewhere so why not do the same with your currency?
Unfortunately, some companies in the currency world will charge you more the longer that you have been with them as they rely on you not being bothered to shop around each time and take advantage of that with the rates they offer you.
When an overseas estate agent refers you to a currency broker they are generally due a commission for you using them, this is why they may seem fairly set on you using that brokerage to “keep it all under one roof”. unfortunately again this may not lead to you getting the most for your money as the broker has to factor in the commission payment to the rate they offer you.
Finally, if you use an online platform to buy your currency then once again that is a reason to check out the rate you receive as a computer does not negotiate the rate for you so quite often you can do better for the sake of a quick phone call.
If any of these apply to you then it would be well worth getting in contact with us directly as many of our regular readers have done over the years.
Feel free to email me (Daniel Wright) the creator of this site on [email protected] explaining what you are looking to carry out and I will contact you with quote. For just two minutes of your time it could save you hundreds if not thousands of pounds! We deal with clients moving money internationally buying or selling any major currency.