| Foreign Currency |
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Page 1 of 2 WHY USE A CURRENCY EXCHANGE SPECIALIST?Essentially there are four reasons why you should use a currency specialist like HiFX rather than your bank: You’ll save money by getting a better exchange rate A recent survey undertaken by a national newpaper showed that the high street banks were charging up to 4% more to exchange your money. 4% doesn’t sound a lot but, this means if you were changing £100,000 into Euros, for example, you'd pay around £4,000 more than if you'd used a company like HiFX. HiFX will transfer your money abroad completely free of charge* If you use your bank you’ll be subject to a number of additional bank charges which can include commission fees (up to another 2% of the amount you're transferring), transfer charges (usually £25 for each and every transfer) and finally, depending on where you're sending the money, up to another half a percent for bank receiving fees. Fix the rate for up to 2 years Unlike your bank, HiFX will allow you to fix a favourable exchange rate for up to 2 years thus protecting your money from adverse currency movements. We always remind clients that you’d never agree to buy a property in the UK without knowing the final cost. If you agree to buy an overseas property without fixing the exchange rate at the start, that’s exactly the gamble you’re taking. Bear in mind that the average off-plan property takes 2 years to be built, so you can see the risks involved if you choose not to fix the rate at the outset. Excellent customer service Buying a property abroad is a significant investment. Our goal is to make sure you have all the right information and tools you need to protect yourself from fluctuating exchange rates. HiFX will provide you with all the help and expert advice you need. *In the event that a client is charged we will arrange a full refund upon proof in the form of a bank statement (Sterling equivalent). Note: this does not include the cost of you transferring the funds to HiFX and any charges incurred where the funds being sent are in a different currency than the destination bank account. As part of the service, HiFX provides one free transfer per trade. PROPERTY PURCHASE Buying a property abroad is a significant investment and fluctuating foreign currency exchange rates can make a huge difference to the final price you pay. Every year, the experts at HiFX help thousands of people achieve their dreams of owning a property overseas. Better exchange rates than your bank We offer excellent rates of exchange. In fact HiFX can save you up to 4% on the exchange rate. No hidden charges We guarantee no transfer charges, no commission fees and no overseas bank receiving fees.* Protection against negative exchange rate movements Unlike the high street banks, we allow you to fix a favourable foreign currency exchange rate for up to 1 year. Simple to use service Using HiFX when buying property abroad couldn’t be easier. Our friendly experts will develop an understanding of your circumstances and provide you with all the help and advice you need. Complete peace of mind Every year over 2,500 businesses and 30,000 private individuals trust HiFX because we make sure money is transferred on time, every time. As a member of SWIFT, the world's largest payments and settlements network, you benefit from faster payments and highly secure transfers. |
