Currency Exchange Case Study

As independent financial advisers we provide a variety of services to our clients and this includes helping clients get the best exchange rate.  With our connections with a number of foreign exchange brokers we are able to check across a wide part of the market.  We are often able to make a significant difference for our clients - especially over the rates offered from high street banks in both the UK and Spain.

In a recent transaction, a client was moving money from the UK to Spain for the purchase of a house.  The client needed 900,000€ to complete the purchase.   The client had a quote from their bank in the UK and we also made comparisons of the rates offered by our contacts. The difference was very worthwhile and saved the client a significant amount.

Client Bank                              775, 862 GBP

With our help                           750,662 GBP

SAVING TO CLIENT                  25,200 GBP

This example is for the transfer of a substantial amount of money.  However, the principle applies at all levels and even on a 100,000 GBP exchange to Euros the saving would have been 2,800€. 

The client also needed further funds to be transferred in 3 months time.  We were able to "forward book" the rate giving the client certainty about their situation and allowing them to budget accordingly.

Facilities also exist for making regular payments from Dollars or Sterling to Euros without commission. 

Pound Euro exchange rates for expats in Spain

 Risk and Reward         Guide to Offshore Investing         Tax Guides         QROPS         Inheritance Tax