Working in the UK? Don’t let Poor Exchange Rates Steal your Salary


Today thousands of foreign nationals come to the UK to take advantage of competitive tax rates, uncover exciting career opportunities and start new businesses. And whether you’re a finance worker enjoying life in one of the fastest-moving financial sectors in Europe, or a qualified doctor lending their expertise to the NHS – you’ll already know how rewarding working in the UK can be.

 

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But while earning your salary may be satisfying – transferring currency back home, or even transferring funds from home over here, can be a real headache. Not only is dealing with the banks time-consuming and stressful, poor exchange rates and sky-high transfer fees can bite into your balance.

That’s where we come in.


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. So next time you transfer currency you can enjoy bank-beating exchange rates, low transfer fees and a hassle-free service.

Don’t lose out

Here are five reasons people like you tell us transferring currency is a headache:

1.Poor exchange rates and high transfer fees can take a hefty slice out of your salary – a fact made worse because the amounts transferred are often relatively small.
2.Organising transfers online or by phone is a hassle. And it’s even worse if you transfer through a branch, as you have to supply bank details for the person you’re paying every time.
3.Because exchange rates rise and fall the amount you receive over here, or your family receive back home, can change every time.
4.Banks can make the process slow and complicated – which leads to delays, extra stress and frustration.
5.Any delays can mean missing a mortgage or loan repayment back home, or worrying about a loved one receiving their money in good time.

How we can help


Transferring currency through a trusted broker is a great way to take the pain out of the process. You’ll get the very best exchange rates, a simple-to-use service and best of all, low transfer fees. 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 best levels of service.

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


Case study one: Making transfers pay in the UK

French financier Bernard Aubert came to London a year ago with his family in tow to escape the French government’s 75% tax rate for higher earners. But having fled one financial sting in France he didn’t expect to experience something similar when he tried to transfer currency, and pay the mortgage, back home.

First he found that arranging a transfer through online banking took up too much of his precious time – and wasn’t exactly user-friendly. Plus, when he checked his bank statement online he was shocked to discover he was paying a £30 transfer fee, as well as 4% commission on poor exchange rates, every time he made a transfer with his UK bank. As an alternative he tried sending his hard-earned pounds directly to the French bank account and was hit with similar charges when the bank automatically converted his money to Euros using a low exchange rate.

Discovering a different way


After finding www.currencytoday.com, and searching through the trusted currency brokers on our site, he chose to try out Transferwise. Bernard was impressed by the company’s single flat 0.5% fee of the transfer amount – with no hidden or additional charges. As a financier always looking for fresh ideas, he also loved the fact that Transferwise uses a peer-to-peer system which directly matches customers in different countries looking to swap their currency for yours.

He also enjoyed the assurance that the service is fully regulated by the UK’s Financial Conduct Authority. Now Bernard saves 3.5% on every transfer – that’s an impressive £35 on every £1000 he sends to France. He also swerves £30 of bank charges each time, a saving which soon adds up. Best of all, he eliminates any hassle since his French bank details are stored on his online account and he can pay by debit card on amounts up to £2000 – or by online bank transfer on any larger sums.

The fact that Transferwise removes expensive reliance on banks, and helps overseas customers who need his pounds, also makes him very happy. All of which leaves him and his family free to enjoy life in London to the full.

Click on this link to learn more about Transferwise.

Case study two:

Making it simple to send money back home

Diwali is an important time for Hindus wherever they are in the world. And for Dhruv Kapoor, a 38-year-old IT manager, the fact he’s working in London, not his native India, doesn’t make any difference to marking the occasion. Last year as part of celebrations for the festival of light, he wanted to send some money home to his mother in India. However, he found the process confusing and long-winded when he used his bank.

Dhruv was also angry to discover that a fluctuating exchange rate and high bank charges took a big bite out of his transfer. Seeking a better deal he got a recommendation from a friend on Facebook to do some research on currencytoday.co.uk After taking a look through our carefully chosen selection of handpicked currency brokers he decided to go with Transferwise. He was able to set up his account online within the hour and secure a much more favourable exchange rate using their online service. They also charge zero transfer fees regardless of how small the amount was and he could pay by debit card to make the whole process as smooth and fast as possible.

He was pleasantly surprised to receive a call from his mum two days later to thank him for the money that had already arrived. Now he is confident his overseas transfers to India will be hassle free and arrive in very good time. He already has his mum’s Indian Rupee bank details stored online so a transfer to her in the future can be done within minutes using Transferwise online. All of which meant more of the money got to his mum, which gave Dhruv another great reason to celebrate.

Click on this link to learn more about Transferwise.


 

 

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