How does it work if I am selling currency

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So how does it work if your selling currency I’ll give you an example of that if you have an overseas property which you’ve sold and your wishing to take advantage of the strength for example of the Euro if you have a property in the Euro zone and you want to buy sterling and obviously get more sterling than you would have last year then this can be done through us very simply.

You need to set up an account first of all and then we can discuss your requirements and your time scales. The way it will work with actually booking a rate that can be done by phone no problem and then you need to establish really before booking the exchange rate how you can get your Euros in this example to our Euro account at the RBS Now there is an account that our broker has with the Royal Bank of Scotland and that’s a Euro account which is separate from the sterling account and that’s where you need to send your Euros to not to the pounds account obviously. That can be done before or after you book the transaction but you need to establish with your bank to move the money is it essential for you to be in the branch at the time in the country at the time or can you do it over the phone, by fax or by internet banking. You also need to check that your bank doesn’t charge large fees for moving Euros out of the account, now some Spanish banks can charge up to 1% just to move your money out of the account. So don’t forget 1% on 100,000 Euros is 1000 Euros that they’ll charge just to move the money so you need to check to see whether they do that if they do charge you, then you need to negotiate that with the bank and get them to avoid those fees or certainty reduce them because that’s not something we are able to do. But in terms of receiving your Euros we will receive them usually within one to three working days.

We’ll confirm when the Euros have come in and we’ll send the sterling back to your account if you’ve already agreed the exchange rate or you’ve agreed the exchange rate on the day we’ll send the sterling straight back to your account so you receive it by the afternoon in pounds ok. If you do have any other questions in regards to this obviously I can go into more depth, give me a call between the office hours of 8:30 and 6pm that’s 8:30am and 6pm my number is 0207 183 2291 or you can visit the website currencytoday.co.uk, fill in your form there the enquiry form there and I’ll give you a call straight back within the hour or you can alternatively click on the link to the side of this monitor that’ll go straight to currencytoday.co.uk and you can see everything from there and make your enquiry.