Foreign Exchange & International Transfers »
Clients from countries outside of the Eurozone are advised to open an account with a professional Foreign Exchange (or FX) trading company. This is because exchange rates change from day to day and most high-street banks may not provide the best value for money.
We work with reputable FX trading companies (all of which are FCA Regulated and with offices in London and Spain).
Below are the main advantages of employing their services instead of relying on the banks:
- Big savings: Even a small difference of 2-3% in comparison with the rates offered by your local bank can add up to a lot of money when purchasing a property (thousands of euros).
- Reduced fees: Unlike banks, our recommended FX companies will not charge any commissions or fees for large transfers. In some cases low value transfers after the purchase may be subject to a small handling fee which tends to be lower than banks´ fees.
- Reliability: Our recommended FX companies have been involved in thousands of transactions and have a proved track record of moving funds to and from Spain without delays or surprises.
- Reduced risk: Our recommended FX companies allow you to fix the exchange in advance to reduce the risk of market fluctuations. This is relevant because a couple of weeks will pass from the time that an offer is accepted until completion.
- Trust: Our recommended FX companies have operated for many years and have a solid presence in London and Spain. Moreover, they are all FCA Regulated and therefore meet stringent criteria from regulators (including capital controls, insurance, etc.).
- Dedicated service: Our recommended FX companies will be able to set an account and appoint a dedicated trader to assist you. This could all be made via the telephone or online. Traders monitor the market and will be able to advise you on the best way to fix a rate.
Please contact us if you would like an account manager from one of our partners to contact you or if you would like to obtain a competitive FX quote.