| prqview200@yahoo.com.tw 2007-12-23, 1:38 am |
| If you already live in France, or intend to finance your property
purchase from equity in your UK home, chances are you'll want to move
some money abroad.
Transfering money from the UK to France requires someone to handle the
transfer on your behalf and usually your bank will be happy to assist
you but beware, though convenient and familiar, your transfer might
cost you more than it needs to.
Instead you may be better contacting a currency house, a company which
exists specifically for the purpose of moving money; both large single
amounts for your property purchase, and lower regular amounts such as
a monthly pension.
Transferring money via a currency house is often cheaper than using
your bank for two reasons; firstly their charges may be lower than
your banks, but more importantly the exchange rate you receive is
likely to be more attactive than the rate offered by your bank which
is typically a tourist exchange rate and signifcantly lower than the
rate you see published in the financial press.
Better yet, both spot and forward methods are available. The former
converts your money at the prevailing exchange rate when the money
transfer is made and is the method most of us use unknowingly, whereas
the forward method allows you to fix the exchange
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