If you are one of the thousands of Brits who currently own a home in Portugal, it’s likely that you will have moved a large amount of money between countries to pay for your new life abroad. And for anyone that has undertaken such a venture, the need to transfer money between the UK and your new country of residence doesn’t stop after the initial move.
Inevitably you will have to arrange the payment of monthly bills and servicing costs, which will involve moving money regularly from the UK into euros. As could be the case if you have a mortgage with a local lender. Furthermore, if you have purchased a property as a business investment, you may be required to repeatedly transfer rental income back to the UK.
Whatever your requirement, if you need to make recurring international payments you may find the process a hassle. You might have to negotiate your bank’s complex call centre to do so, or could find that their opening hours are restrictive.
Fortunately, there is an alternative which could make your regular overseas transfers a whole lot easier. By using a foreign exchange expert like moneycorp, you could establish a Regular Payment Plan. This specialist tool enables you to set your repeat transfers to a schedule that’s convenient to your needs – whether weekly, monthly or more irregularly. Once set up, moneycorp will debit your funds from your account and conduct the relevant currency exchange, before transferring the money to your nominated account – eliminating the need to make contact with your bank every time a transfer is due.
As well as offering convenience, the service allows you to fix the exchange rate, so you know exactly how much every payment is going to cost once the rate has been factored in – removing any concern that negative movements in the notoriously volatile currency markets will impact your budget.
moneycorp’s specialist service also enables you to avoid expensive or inconvenient calls from abroad by allowing you to do everything online if you choose. You can buy or sell currency and make transfers 24/7, so you can manage your international payments at any time and from anywhere in the world. The system also allows you to monitor the progress of your transactions and manage recipient details – making repeat transfers even easier.
It’s important to be security conscious when sending your hard earned money overseas. Last year alone moneycorp conducted £22.7 billion in currency trade over 8.1 million transactions. moneycorp is authorised and regulated by the Financial Conduct Authority for the provision of payment services, and client funds are safeguarded in segregated client accounts.
For competitive exchange rates, low transfer fees, expert guidance and the special offer of your FIRST TRANSFER FREE call moneycorp on freephone 800 785 012 or visit www.moneycorp.com/portugal-resident