Expat Top Tips For Transferring Currency Overseas

If you’re moving abroad on a secondment with an employer, to retire, or to seek a better work-life balance with your young family, the switch from UK resident to becoming an expat can feel daunting.

And even when you’re living overseas as an expat you will need to think about the ongoing need to make regular currency transactions. For most, the funds you transfer to buy your property are the first of many payments.

It is best to compare rates from a number of providers. But, to get a meaningful result, you need to check them all at the same time. Doing a couple in the morning, and another in the afternoon and maybe one more the next day just isn’t going to work.

When you’re transferring funds, there are two fees you need to consider – the transaction fee and the exchange rate. And to know exactly how much it will cost, or how much will arrive in the account at the other end, you need to calculate both.

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