CASH SAVERS!

3 top tips for saving money on currency transfers to and from Spain

IF you’re moving money to or from Spain to cover living costs, send funds to loved ones, purchase property or pay a foreign mortgage, you’ll want to be sure you’re getting the best possible return.

Making serious savings is simple with the right support, check out our 3 top tips for making your money go further.

1. GET A GREAT EXCHANGE RATE

The exchange rate you secure for your currency transfer can have a massive impact on how much you receive. However, exchange rates are always moving, and any significant political or economic news can inspire dramatic shifts, so picking the right time to move your money can be tricky.

Working with a leading currency broker like Currencies Direct means you’ll gain access to regular market updates, keeping you up-to-date with the latest exchange rate news, hassle-free.

What’s more, the provider you use to move your money can be just as important as the timing of it. Many banks offer uncompetitive exchange rates, eating into your return. Use a provider who can give you access to great exchange rates.

2. AVOID TRANSFER FEES

Most banks, and many other providers, apply a transfer fee when moving your money abroad. While these fees can vary, banks typically charge between £10 and £40 per transfer. This might not sound like much, but if you were moving money to and from Spain on a regular basis this would soon add up.

For example, if you made two currency transfers a month and your bank charged you £30 per transfer you’d be losing £720 a year on unnecessary fees.

When finding a currency provider look for one that doesn’t charge transfer fees.

3. ACCESS SPECIALIST SERVICES

Every currency transfer is different, which is why Currencies Direct offers a range of services that can be tailored to suit your individual requirements.

Need to make a swift, secure transfer now? With a spot contract you can make immediate transfers at the current exchange rate. Transfers can be made over the phone with the support of your dedicated account manager or 24/7 online or by app.

Like the look of the current exchange rate? You can either buy currency in advance and hold it in your digital currency wallet until you need it or use a forward contract to fix the rate ahead of making a transfer.

Want to achieve a better rate? Use a rate alert or limit order to target an exchange rate. With a rate alert you’ll be instantly notified by text or email if the market moves to your set level, while with a limit order your transfer will be triggered automatically once your rate is reached.

Like the idea of making transfers on the go? Use your online account and app to check live exchange rates and make transfers anytime, anywhere.

ABOUT CURRENCIES DIRECT

Currencies Direct have been helping individuals and businesses save time and money since 1996 with excellent exchange rates and no transfer fees.

Get a quote now to find out how much you could save. With a team of over 550 currency experts and 20+ branches across Spain, Currencies Direct are never far away when you need them.

They’ll keep you up to date with the latest market movements so you can pick the right time to move your money. They also offer a range of specialist services that can be tailored to your individual requirements.

If you have a currency requirement coming up, get a quote now or reach out to the Currencies Direct team and quote Olive Press

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