CURRENCY News from GC Partners

Expert currency advice

By Rachel Canales from GC Partners

REVEALING THE TRUTH BEHIND THE MYTHS

Hear from the experts at GC Partners as they debunk the top 4 foreign exchange myths Ever changing and sometimes complex, it is no wonder why there are so many myths about foreign exchange and how it all works. That is why we have asked our friends at GC Partners to share the truth behind the top 4 foreign exchange myths and give us an insight on what it is really like to work with a foreign exchange specialist.

MYTH NO. 1 Foreign exchange specialists buy money on a good day, stockpile it, and then only offer it to friends.

Not true. As markets can fluctuate, nobody really knows when the ‘best day’ is to buy or sell currency. Many travel money operators will buy currency in bulk so it is readily available, but they apply a wider spread to cover any adverse market movement. At GC Partners, when we receive an order from you, we buy the currency from the live market there and then; allowing us to offer you the best possible rate at that time.

MYTH NO. 2 Foreign exchange specialists ‘play’ with client's money overnight and invest in high interest accounts.

Not true. Legally we are not allowed to do this. At GC Partners all your money is held securely in your individual account, it is never GLO advert 118x130.5 MARK.qxp_Layout 1 23/12/2019 13:17 Page 1

Currency made simple

Since 2003, we’ve made it easy for over 100,000 people like you to transfer money to more than 125 markets across the world.

Last year alone, we transacted over $5bn in foreign currency and made more than 400,000 payments on behalf of our clients.

T. 289 093 137 / +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. Global Custodial Services Limited T/A GC Partners is authorised and regulated by the FCAand holds Part IVPermissions underthe FSMA2000. Registration number595875.

Mark Joseph

Board Advisor invested overnight or bought and sold to make a profit. We do not make any interest on the funds in our client accounts.

MYTH NO. 3 Never buy money on a Monday or a Friday, or any day after 3pm.

Not true. There is no right or wrong day, or time to buy or sell currency. Exchange rates are constantly moving depending on the latest economic or political changes. However, working with a foreign exchange specialist like us gives you access to experience and market insight that can help you make a more informed decision about when is the right time for you.

MYTH NO. 4 An exchange rate stays the same for the whole day and does not move.

Not true. Exchange rates move every second which is why they can have such an effect on the price of property or the value of any money you transfer abroad. However, if you use a foreign exchange specialist you can fix your exchange rate in advance – helping you minimise the effects of exchange fluctuations. The GC Partners difference Our dedicated currency specialists take the time to get to know you and understand your needs. They are here to make currency simple - letting 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 so 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 – it is easy and only takes a few minutes. Visit us online at www.gcpartners.co/register or in person at one of our offices. Contact us on +351 282 768 136 & UK +44 (0) 203 974 4738 or email portugal@gcpartners.co

Global Currency Exchange Network Limited T/A GC Partners is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, FRN 504346. Registered as a Money Services Business, regulated by HM Revenue & Customs (“HMRC”) under the Money Laundering Regulations 2017. Registration number is 12137189. Registered in England and Wales, Company number 04675786. Registered Office 3rd Floor, 20 Dering Street, London, England, W1S 1AJ