When purchasing a property overseas you will need to transfer money. Whilst the natural inclination is to go to your local High Street bank to transfer funds abroad, this is usually a fairly expensive way of doing it. Exchange rates and commissions provided by high street banks are significantly less favourable than those typically offered by specialist foreign exchange brokers.

We therefore recommend the services of Foreign Currency Direct. Transactions arranged through FCD are always at the most competitive rates, and the service is fast and efficient. An estimate of the typical savings using FCD over high street bank transactions are in the region of 1 to 2%, or £1,000 to £2,000 saved for every £100,000 transferred.

To transfer money via FCD contact: Tom Holian, Tel UK: 0800 328 5884 Tel abroad Tel: +44 1494 725 353 or create an account via the FCD website by visiting www.currencies.co.uk/referral.asp?F_ID=1002

You can stay in touch with movements in the international currency markets via the following link: Currency Report