CURRENCY News from GC Partners

Expert currency advice

By Rachel Canales from GC Partners

KEEP YOUR MONEY TRANSFER OPTIONS OPEN

Four smart ways to make sure you get the best exchange rate every time you move your money. If you have been transferring money to and from Portugal, it is worth checking what your transfer options are to ensure you are receiving the best exchange rate possible - especially if you have been relying on your bank. Banks often cannot offer the flexibility that a currency specialist can, especially as exchange rates continue to fluctuate under global pressures such as Coronavirus, Brexit and the situation in Ukraine. Here are four money transfer options that a currency specialist such as GC Partners can offer. These could help you avoid currency risk and ensure you receive the best exchange rates every time you make a transfer.

1Spot transaction Buy now, pay now. An easy way to transfer money fast at today’s rate. Simply buy your money at the current exchange rate and send your payment to your currency specialist’s designated account. Once received, your foreign currency will be transferred to the bank account of your choice. This is ideal if GLO advert 118x130.5 SEPT MASTER.qxp_Layout 1 20/09/2019 16:38 Page 1

Transactions

without the drama

We're a dedicated financial services provider specialising in moving money overseas utilising great foreign exchange rates. From a substantial one-off property sale to regular ongoing payments, you can rely on us to work quickly, reliably and securely.

T. +44 (0) 203 974 4738 / +351 289 093 137 E. portugal@gcpartners.co www.gcpartners.co Visit our offices in Lagos and Vilamoura

Global Currency Exchange Network Limited T/A GC Partners is authorised by the FinancialConductAuthorityunderthePaymentServicesRegulations2017,FRN504346. GlobalCustodialServicesLimitedT/AGCPartnersisauthorisedandregulatedbytheFCA and holds Part IV Permissions under the FSMA 2000. Registration number 595875. Laura King Head of Compliance & MLRO you need to send money right away.

2Forward contract Buy now, pay later. Simply pay a small deposit to buy your currency at a fixed rate today and your currency will be held for you until you pay the balance at a later date, minimising the effects of exchange rate fluctuations. This option is perfect if you are paying a deposit on a property and have a balance to pay at a later date. It also works for smaller, more regular amounts too. You can budget and plan ahead more easily knowing exactly how much is going to be transferred every month.

3Limit order If you are budgeting for a specific exchange rate you can set a limit order which automatically purchases the currency for you once your preferred rate is met. This is helpful if you want to take advantage of overnight spikes in exchange rates and not be restricted by normal office hours.

4One-Cancels-the-Other-Order (OCO) Order An even smarter version of a limit order, an OCO order lets you set a preferred exchange rate as well as a lower-level rate, letting you take advantage of any spikes in exchange rates with the security of a lower level if the market suddenly drops.

The GC Partners difference

Our dedicated currency specialists take the time to get to know you and understand your needs. We are here to make currency exchange simple whilst helping you move your money in a way that works for you and in a way that your bank may not be able to offer. We have had an office in Portugal since 2005, therefore, we understand the local market well and our 4.9 out of 5 TrustPilot rating is one of the highest in our industry. Simply open an account today. This is an easy process and only takes a few minutes. Visit us online at www.gcpartners.co/register or in person at one of our offices. You can also contact us on +351 282 768 136 & UK +44 (0) 203 974 4738 or email portugal@gcpartners.co