Don’t be Overcharged on Your big Overseas Buys. Read this First…


From a beautiful piece of art to a must-have antique vase or even a dream yacht – the fact that it’s currently overseas no longer stops you securing a purchase right now.

Thanks to the internet, it’s never been easier to locate, view and eventually acquire those all-important big ticket buys. But while finding something incredible is now quite simple – successfully paying for it is another matter. Foreign transactions usually involve converting your money into the seller’s local currency. If you rarely make overseas purchases then you’d be forgiven for assuming your bank is best placed to make this happen. But making foreign payments through your bank can be a slow, frustrating process – complete with eye-watering transfer fees that can leave you feeling ripped-off.

 

Step 1 : Enter amount

Step 2 : Choose "From" currency

Step 3 : Choose "To" currency

Find The Best Rates

Step 4 : Click & Save


That’s where we can help.

At currencytoday.co.uk our experts have scoured the web and utilised industry expertise to bring you trusted currency brokers who can save you time and money on big overseas purchases. So you can relax safe in the knowledge that your payment will be speedy, secure and free of any sky-high fees. Check out our comparison box below to find the best deals updated in real-time.

Avoiding payment pitfalls

OK – so you’ve found what you’re looking for and agreed a price with an overseas seller. What’s next? Experienced currency dealers know that there are plenty of pitfalls to watch out for during the payment process. These include:
  • Uncertain exchange rates. Exchange rates change minute by minute – which can make it difficult to plan if you’re paying a deposit, then the rest of the purchase price sometime later.
  • Poor deals. Ask an expert and they’ll tell you that the exchange rates set by banks are some of the worst on the market.
  • Rip-off fees. Both your UK bank and the foreign bank may charge you high transfers fees – which makes big purchases even more expensive.
There’s also the hassle and stress that dealing with a bank can create. Organising transfers online or by phone is a hassle when you have to remember complicated passwords and provide obscure overseas account details. It’s even worse if you transfer through a branch, as you have to queue up and complete fiddly bank forms for the person you’re paying.

A better way to make payments


Luckily, there is a smarter way. By using a trusted currency broker you can secure the bank-beating exchange rates and low transfer fees you want, plus the speedy service you need. Your own personal dealer will also walk you through the whole process on the phone, answering key concerns and addressing important considerations.

We work with all the market-leading currency brokers who have the power to pass on the best deals to you at the same time as maintaining the very highest levels of service. This means you are one direct dial away from obtaining help with supplying overseas bank details or gaining expert advice on where the market may be going. They’ll tell you about useful tools like ‘forward contracts’. This is a clever way to fix the exchange rate before you make a payment – so you can take advantage of great rates and avoid any nasty surprises.

Currency brokers can also offer you:
 
  1. 1. Low foreign exchange margins. The figures speak for themselves: while banks charge up to 5% of your balance to make a payment, currency brokers weigh in much less than 1% and the amount reduces further as the transfer increases.

  2. 2. Speedy and safe payments. You can rely on the companies we choose to get your money where it needs to be in one to four working days, in some cases same day!

  3. 3. Easy online management. Simple online services put you back in control with features like rate alerts and the option to pay by debit card or bank transfer on large sums.

  4. 4. 24/7 transactions. Whether it’s lunchtime or midnight, you’re free to make a transfer round the clock.

  5. 5. A range of expert options. Currency brokers can share their knowledge to save you money – including using ‘forward contracts’ to fix the exchange rate up to three years in advance.

  6.  Outstanding one-to-one service. Currency brokers aren’t faceless online companies – they’re real people who can help and advise you every step of the way.

Look at our case study to see how you could save:


Case study: How we helped Peter hit the right note
Peter Kellen knows a thing or two about antique instruments. And over 20 years he’s built up a large collection of beautiful pieces for his home. After seeing an extremely rare violin for sale at an auction in Austria, he just had to have it – and was delighted to put in the winning bid. He happily handed over his debit card on the day to pay a deposit, and organise a bank transfer for the remaining €90,000 at a later date.

A smarter way to pay

Peter assumed the rest of the transaction would be plain sailing. So he was appalled to discover that his own bank, Nat West, quoted him a poor 1.16 exchange rate which would have raised the price of the violin to £77,586 with a transfer fee of £25. However, Peter found a way to fight back. After some online research he discovered currencytoday.co.uk and was overjoyed to find an impartial site that concentrated on useful advice rather than self-promotion. Peter particularly liked the way in which the transfer process was clearly outlined and the fact he could instantly see the companies with the best rates who could handle the payment safely and securely.

After speaking with various brokers recommended on currencytoday.co.uk Peter was over the moon when on the same day he was quoted 1.1950 with one of them. This made the total cost £75,313 for €90,000 with no transfer fees – a massive saving of £2,272.

Personal service, simple payments

After opening his account he was able to buy the Euros within minutes thanks to the help of his personal currency broker. The payment arrived safely and securely in the auction house’s bank account in Austria the following day. The broker sent a transfer confirmation to the auction house and Peter straight away – giving them both peace of mind that the money was on its way for his violin. It was a real thrill for Peter to add a new rare instrument to his collection – and the simple, stress free and money-saving payment method he chose was certainly music to his ears.

Want to follow Peter's example? Fill out our contact form to find out how our experts can help you.

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