When is the best time to send money overseas?

If you’re planning on moving overseas or buying a property abroad, there are many financial arrangements which need to be considered, such as:

• Tax
• Property maintenance costs
• Flight costs
• School fees

However, many people are unaware of how foreign exchange can impact their investments and often leave currency transfers to the last minute. Not acting on foreign exchange as soon as possible can mean missing out on the best exchange rates and losing money in the process.

As a result, it’s always best to seek foreign exchange advice as soon as possible before moving abroad to ensure that you can secure the best exchange rate possible and make your money go further.

Why is a foreign exchange strategy so important?

With property purchases being such a significant investment, it pays to seek advice from a foreign exchange specialist like Halo Financial who can save you both time and money on your international currency transfers.

Halo Financial’s Chief Analyst, David Johnson, explains why timing your currency transfers is essential when moving abroad or purchasing an overseas property.

There are multiple factors which can affect currency exchange rates, such as:

• Market volatility
• Transfer fees
• Not selecting the best transfer option

Exchange rates are incredibly volatile, with currency pairings such as the British pound to Australia dollar (GBP/AUD) fluctuating by as much as 7-8% per month. A foreign exchange company like Halo Financial can help you identify the best currency transfer strategy due to our deep understanding of both the market and our customers’ needs.

Unlike many high street banks, Halo Financial do not charge extortionate hidden transfer fees to ensure your international transfers are as cost-effective as possible.

The savings made by implementing an effective currency exchange strategy can result in reduced mortgage payments and can help cover the cost of other expenses when moving abroad, such as school fees.

Advising on when is the best time to send money overseas

After establishing your personal financial needs, Halo Financial will put you in touch with one of our Currency Specialists who will:

• Monitor exchange rates for you
• Keep you updated with how market volatility can affect your currency transfers 
• Devise the best strategy to suit you
• Provide simple reporting to keep you updated on currency market progress

If you’re looking to move abroad or purchase a property overseas, speak to Halo Financial on 020 7350 5474 to discover how we can help you make cost-effective currency transfers.