Currency Exchange Service for overseas buyers
Transferring money overseas?
If you are buying a property in Spain exchange rates can have a big impact on the amount of Euros that you will receive. Exchange rates change constantly and 10% fluctuations in a relatively short space of time are not uncommon. This could effectively increase, by 10% or more, the Sterling amount that you will have to pay to purchase your Spanish property.
When it comes to exchanging your currency, there is an alternative to using your bank. A foreign exchange specialist such as Moneycorp can offer you a better rate of exchange as well as a more personalised service. You will also find that a currency specialist can transfer your funds quicker than your bank and should also remove any charges made by the receiving bank when your currency reaches your overseas account.
If you are making regular payments to Spain – such as mortgage payments or pension transfers, then Moneycorp can also help you. They provide a Regular Payment Plan which is flexible to suit your needs.
Whatever your currency requirements, Moneycorp will provide you with a proactive service, using their expertise to monitor the currency markets to achieve you the best possible rate of exchange. With extended opening hours (Monday – Friday 07:30am – 10:30pm and Saturday 10am – 4pm) you can contact Moneycorp to discuss your currency requirements at a time that suits you.
To download the Moneycorp factsheet - click here >>
For further details on how Moneycorp can help you save money - click here >>
For your FREE privilege card to start saving today - click here >>
If you would like a Moneycorp representative to call you back at a more convenient time, submit your contact details on the form below...
Case Study
David and Vangy Munster from Belfast have just recently bought a 2 bedroom apartment in Fuengirola, on the Costa del Sol.
As retirees they are able to split their time between Belfast and Spain and plan to use their new apartment as a holiday home. They opted for the apartment because of its ideal location and for the low amount of maintenance it required.
The couple have found and purchased their place in the sun through Viva Estates and as part of the process have used Moneycorp to transfer their euros. David says he liked Viva Estates because they offer a straightforward and approachable and “do exactly what they say they will.” Likewise, he says they have found Moneycorp “very easy to use and good value for money”.
David and Vangy hope to complete on their new property before the beginning of summer and are looking forward to enjoying the sunshine and relaxing into the Spanish lifestyle.
Take a look at the Regular Payment Plan features - click here >>
Frequently Asked Questions
1. How does Moneycorp save me money?
Firstly, by offering better rates of exchange than the banks when you need to trade and secondly by ensuring that you trade at the most favourable time. The purpose is always to get you more Euros for your Sterling.
2. How do I set up an account with Moneycorp?
We will open a trading facility for you as soon as we receive your completed Trading Agreement. This will enable us to immediately start monitoring the markets on your behalf. Trading Agreements are available from a member of our team. Once you have set up your Trading Facility with Moneycorp, you will be able to buy currency over the telephone.
3. What is the minimum amount that I can transact?
Usually we require a minimum transaction of £5,000, but we have facilities within the TTT Moneycorp group to handle smaller amounts. The minimum monthly amount that you can send under our Regular Payment Plan is £250.
4. I have heard that some banks charge receiving/receipt charges. Will I have to pay these?
No. Moneycorp guarantees that our clients will not pay any bank receipt charges when sending funds abroad. Should you incur such charges, we will refund them in full. This guarantee applies regardless of the amount being transferred or to which bank the payment is being made.
5. What if the rate is good now, but I don't need to or can’t make payment for 3 months?
You can fix an exchange rate for up to two years to make it easier to plan the cost of your currency payments. This is particularly useful if you are buying a new property "off plan". With Moneycorp, forward buying your currency is very straightforward. Simply book an exchange rate and send your dealer a deposit, usually 10% of the contract value. The 90% balance of your currency contract is payable when you wish to have funds transferred overseas.
To download the Moneycorp factsheet - click here >>
For further details on how Moneycorp can help you save money - click here >>
For your FREE privilege card to start saving today - click here >>
If you would like to discuss your currency exchange options with a professional Moneycorp representative, please submit your contact details below, and they will be in touch at the time requested.
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