Currency Exchange – transmitting money overseas

The best currency exchange rates

There are many reasons why you would want to transmit money overseas. Finding the best currency exchange rates are important to make the most of your finances.

Reasons for sending money include:

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  If you are supporting your children in an overseas university or if you want to send regular income to your grandchildren.


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  If you are sponsoring an overseas student's education or career advancement.


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  If you own a property abroad and want to regularly transfer money into your foreign bank account.


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  If you are a business and are making business transactions abroad.

Currency exchange – the financial impact

Big businesses are likely to depend on currency exchange rates – it could be a difference of thousands of pounds if they don't get the best deal. But whoever you are and whatever the sum of money you are exchanging, you want to get the fastest, most secure and financially opportune deal.

Safe, speedy and secure

One woman had been sending money for several years to a Croatian refugee who had moved to Holland to study. She had been using registered post but twice the money did not arrive. Sending money in the post is never ideal or secure and sending money electronically may not be getting the best currency exchange rates.

Cost is always problematic sending money overseas and you need to find a method that is cheap without risk and that is easy and not time consuming.

Transferring money

There are two main money transfer organisations that can help you send cash abroad – Western Union and Moneygram – but they are very expensive if fast. There are also electronic services available but one foreign transaction service worth considering is using a currency exchange broker.

Currency exchange broker

Transferring serious money abroad is becoming more common with the popularity of emigration and buying second properties abroad or investment properties abroad. If you are transferring larger sums it's vital that you remember even the small differentials in currency exchange rates – they can make an enormous difference.

Specialist currency brokers can find the best exchange rates for transfers. Shop around for quotes and remember that rates change constantly so you need to keep on top of the financial markets. A currency broker can check exchange rates on your behalf so that you don't have to worry.

Foreign Currency Exchange Ltd is a commercial currency brokerage based in the UK. We help thousands of clients move hundreds of million pounds across the globe every day. From large businesses to private individuals who wish to send regular payments abroad, you can save money by getting a better currency exchange rate than your bank. The Foreign Currency Exchange buys currency at wholesale rates and can help you save money with our fast secure service. For more information contact us now, telephone +44 (0) 20 7989 0000 or email info@fcexchange.co.uk