Overview
There are many reasons why someone would need foreign currency, whether for personal or business reasons. For most of us the only time we need foreign currency is when we go on holiday but more and more people are now retiring abroad and/or buying property abroad whether for investment or as holiday homes. Businesses, however, in the ever expanding global market, need to make regular payments in foreign currency, whether to staff based overseas or to suppliers. In all cases we don’t want to pay more for our foreign currency than we have to, whether that is due to transaction charges or an unfavourable exchange rate.

Personal Foreign Currency
Holiday cash - we all know about getting foreign currency over the counter whether from our bank, the Post Office or a Bureau de Change but it is possible to order foreign currency in advance and have it delivered to our door.

Overseas property - many people now purchase land or property overseas, and often there are lots of payments that need to be made with regard to construction, repair of the property, utilities and local taxes. As most UK residents have their income paid into UK bank accounts in pounds there is a need to exchange to foreign currency whether to pay the bill directly or to transfer to an account held on a foreign bank.

Expatriate - whether working or retired abroad you need cash in the local currency to live on. If your pension or salary are paid into a UK bank account then you’ll need to have it regularly converted to the local currency and forwarded to your account at the local bank.

Whenever you require regular or frequent transactions in a foreign currency you should consider opening an account with a company providing foreign currency exchange services, this would allow you to automate your foreign currency transfers and may well prove to be cheaper.

Business Foreign Currency
Any business that has regular foreign currency transactions may benefit from arranging an account with a company providing foreign currency exchange services. Whether by cheaper transaction costs, better exchange rates, automated transactions or simplified internal procedures there are opportunities for efficiency savings.

Accommodation

Foreign Currency