3
Ease and speed Currency specialists are typically more accessible than banks, off ering
services both online and over the phone. They oſt en provide faster and more transparent processes, making international payments more convenient. Having the option to speak with a specialist over the phone can be reassuring, especially when verifying bank details or seeking guidance on a payment.
4
Advanced currency tools Banks usually off er limited options, such as spot contracts, and may not provide
live rates. Currency specialists, however, off er a range of tools to help you manage your exchange eff ectively:
• Spot contracts: These allow you to exchange currency at the current market rate for immediate delivery. This is ideal for taking advantage of favourable rate fl uctuations.
• Forward contracts: These enable you to lock in a favourable exchange rate
for a future date, up to two years ahead. This is particularly useful for property buyers, as it fi xes your budget and mitigates the risk of fl uctuating rates. A deposit may be required to secure the rate.
• Rate tracking and market orders: If you have a fl exible timeline or budget, you can set a market order to automatically purchase currency when your desired rate is reached. You can also set a stop limit order to prevent exceeding your budget if rates fall below a certain point.
• Regular payment plans: Ideal for recurring payments such as monthly bills, mortgage repayments, or receiving income from overseas. These plans automate transfers and can include options to fi x the exchange rate for added security.
By leveraging these tools, currency specialists can help you plan ahead, reduce risk, and maximise your budget, making them a valuable resource for anyone dealing with international payments or property purchases abroad.
“Exchange rates are constantly fl uctuating so when you buy a property abroad, the real-terms cost can change with the rates”
Expert Guide l 19
More on the web
More currency advice…
FrenchEntrée's relocation pages are packed with information on every aspect of moving to France.
Find answers to questions such as: ‘How can I get the best exchange rate?’, ‘What are regular payment plans?’ and ‘What are the hidden costs when buying in France’ on:
frenchentree.com/ currency-exchange
© Shutterstock
© Shutterstock
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