Curriencies Direct has been helping people save time and money on their currency transfers since 1994 by making sure they benefit from bank-beating exchange rates, no transfer fees, and a range of flexible services. More than 210,000 people and businesses on a daily basis have trusted them to manage and to facilitate their payments. Last year, Currencies Direct made more than 400,000 payments trading £4.5 billion in currency.
Currencies Direct has thousands of customers all over the world, offering fee-free transfers on over 60 currencies. With 22 branches across 4 continents, they may also be on hand to help you somewhere locally.
Get the best possible rates
The exchange rate that you see on the news is called the ‘interbank rate’ – it’s the wholesale rate at which banks (and only banks) buy and sell currency between each other. This rate is not available to companies or individuals. As an international money transfer provider they make money by buying currency at a slightly better exchange rate then they offer to their customers, with the difference between the two being the spread or margin. Currencies Direct works off smaller margins than most financial institutions and currency brokers, meaning they can offer their customers more competitive exchange rates.
They are able to buy currency at a wholesale rate and they pass the savings they receive from buying in bulk to their customers. You will always get quoted a price for the currency you want to buy or sell whether you trade online or over the phone.
An average time scale of 24 hours for a transfer between foreign bank accounts
The time scale will depend on where you are sending the funds and how long it takes you to settle with Currencies Direct. They can send money to countries in Europe on the day you book the deal but it usually takes between 24-48 hours. As they send a lot of payments, just call them and they can tell you how long your funds will take.
Fast and simple transfers
Over the years, they’ve learnt first-hand about the many different requirements their customers have. Overseas money transactions are rarely the same. That’s why they offer a range of straightforward, flexible services to move your money from one place, to another. They have an online transfer service and a mobile app. To get started online, all you need to do is register and you’ll be able to access your online account immediately. Once you’re registered you’ll be able to log in to our mobile app. Then you select the currency you want to buy and tell them where it’s going. After that step you send your money to them via car or bank transfer and they convert and send your money on the same day.
You can transfer up to £25,000 online 24/7 via desktop, smartphone, or through the App.
Anticipate the fees for the monthly/yearly payment of your loan
If you are an international buyer and you want to obtain a loan with Carte Financement, you will probably need to have around 20% down payment to finance your project in France. This amount (as well as the purchase amount) will be in euros. As the time needed to get a mortgage between the signature of the preliminary sales agreement and the final signing at the notary is approximately 3 to 4 months, you will need to transfer your down payment in euros as soon as you receive the loan approbation in order to anticipate any variation of the currency rate.
Also, if your potential rental income does not cover the monthly mortgage payment, you might have to transfer money from month to month or yearly to pay back the loan and any charges linked to your project. In that case, think about setting up a regular payment to secure the exchange rate.
Contact information :
Business Development Manager France
T: +44 (0) 2078479400 – ext 1004
M: +44 (0) 7715059514