Money Transfers
Buying property abroad?��� Did you know you could lose thousands of pounds every month?
Exchange rates can have a dramatic effect on the price of a property overseas. In 2002 a €220,000 holiday home in Spain that would have cost £135,000 in February went up to £143,700 by June simply because the Euro moved against the Sterling. Can you afford to take that kind of risk?
Travelex Foreign Exchange for home buyers is designed to eliminate that risk by locking in the exchange rate in advance of the purchase. Your dedicated contact will secure a competitive rate, manage the transfer of funds and track the payment to its destination. Travelex is the world's largest foreign exchange specialist and the leading non-bank provider of global payments, serving 29,000,000 customers every year.
Click the logo above to Register online with Travelex, to get the best rate when sending money abroad.
How does the Travelex service work?
You need to complete an application form or register online by clicking on the logo above and provide proof of identity, to set up your Travelex Personal Transfers account. You also need advise about the property, and give bank details for yourself and the seller or agent to be paid (known as the beneficiary). As soon as your account is activated, a Travelex dealer will contact you to arrange your payment and find you a competitive rate.
Spot deal or forward contract?
If you need to transfer funds immediately, you can do so with Spot deal. If your aim is to protect a future payment against changing exchange rates, you can do this with a forward contract. This means you agree to transfer funds at an agreed or "locked" exchange rate, at some time in the future. With a forward contract you just pay a small deposit now, and the rest 2 days before the agreed completion date up to 1 year in the future.
What rate of exchange will I get?
The size and scale of Travelex means that they can beat the "tourist rate", and quote more competitive rates than the banks. They always quote live rates (not guesstimates) and charge no fees or commission on property transactions.
How long does it take to set up?
Travelex has the fastes, easiest systems to speed up your application. Once they have received your proof of identity, application form and property purchase details, they can arrange international payments immediately.
How do I know my funds are secure?
Some 4,000 financial institutions trust Travelex with their foreign exchange and international payments. As a private customer you will benefit from the same world-class secure systems, and they will track your payment through to its destination.
Click the logo above to Register online with Travelex, to get the best rate when sending money abroad.