The likelihood is that when you've been on overseas trips in the past, you probably haven’t been too concerned about the exchange rate you received. Obviously it’s great if you do happen to pocket a little extra spending money, but the difference the exchange rate makes on a few hundred pounds of holiday money is likely to be minimal. In brief; you’re unlikely to be having long, sleepless nights fretting about whether you exchanged your funds at the right time.
However, if you are regularly making foreign exchange transactions or you need to transfer larger amounts, such as buying or renting a property abroad, then it can be worthwhile to consider your options.
Firstly, forget moving money through high street banks; the best exchange rates and the most comprehensive service is available through currency exchange specialists, such as IVHE preferred partner - Halo Financial. Halo can move your international payments just as quickly and securely as banks. And, in addition to immediate payments, they can arrange forward contracts, allowing you to secure an attractive exchange rate up to two years in advance. Halo will also be able to deliver rates and market update services that the banks will not or cannot offer.
What’s more, the foreign exchange markets are constantly moving; so that volatility throws up these sorts of opportunities on a more regular basis than you might imagine.
So, what next? Your next step should probably be to contact a foreign exchange company who can help to analyse where there may be cost savings to be had on your foreign exchange needs and where the application of appropriate tools would help you get the best exchange rate available for your overseas property. To find out more visit www.halofinancial.com/ivhe