Text Currencies Direct
If you’re thinking about buying a property in Portugal, you’re likely seeking ways to make the process as simple and stress-free as possible, knowing that there are only a few practicalities between you and those sandy shores.
When it comes to transferring money from abroad for property purchases, it is a common misconception that the easiest way to transfer money internationally is via a high street bank.
Whether you’re securing a holiday home, making an investment or embarking on a big move, you’ll always be better off with an experienced international payment specialist. It all comes down to avoiding bank transfer fees, getting the most competitive exchange rate and timing your transfer well.
How can I save?
Currency markets are notoriously volatile and can have a big impact on your money transfer abroad. With such volatility, timing can be everything.
For instance, at the start of January 2021 the GBP/EUR exchange rate was €1.10. If you transferred £300,000 to buy a property you would have received €330,000. However, four months later the Pound Euro exchange rate hit €1.17. Seven cents may not sound like much, but on the same transfer you would have received €351,000, a difference of €21,000.
With the help of a leading currency specialist like Currencies Direct, you can avoid the transfer fees banks often charge, navigate market volatility and secure a more competitive exchange rate to get the best return on your transfer.
Speak to an expert
If you need to move money abroad this year Currencies Direct are on hand to help. Get in touch and find out how much you could save.
Currencies Direct have helped over 325.000 individuals and businesses move money abroad since 1996. They have an ‘Excellent’ Trustscore on Trustpilot, 17 branches across Portugal and Spain and a team of more than 500 currency experts.