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Money transfer when emigrating

If you’re considering a move to Canada, Australia or New Zealand, when it comes to moving your money, make sure to talk to a foreign exchange transfer specialist. They can help maximise what arrives in your overseas bank account. You can save as much as 3% on the exchange rate by using the services of a specialist rather than your high street bank. It’s one of the easiest ways of saving money when you decide to work abroad.

Opening an account is usually free, and simple to do. You’ll get access to a dedicated account manager who can help you to decide on the best products for your needs. Your account manager can also provide you with live quotes so you will know exactly what your money is worth overseas.

Holy fluctuation!

The exchange rate constantly fluctuates and this can have a massive impact on the value of your money. For example if you were looking at a job in Vancouver, and needed to settle bills back in the UK, on 13/3/13 transferring $10k would convert to £6,540, but on 26/6 the same number of Canadian dollars would only convert to £6,168. That’s a +5% difference!

Your personal account manager watches the market for you, so they can recommend the best time to trade. They might also suggest a product such as a forward contract which can protect you from moving exchange rates.

Currencies: Direct, with Currencies Direct

Many people think they have to use their bank to make foreign exchange transactions but this simply isn’t the case.

Currencies Direct offers brilliant service – just read their Trustpilot reviews. They don’t charge for regular transfers, no matter how small, or for one-off transactions over £5k. There’s also no commission, so you can make savings on all aspects of your international career move.

Sport crazy, and financially savvy!

Brian Caplin(35) from Streatham, South London has always been a sports enthusiast and his decision to move to New Zealand is powered by both work and play. “I have a found a company who is really interested in my skills and in terms of lifestyle I will be able to ski every weekend in the season and also take up surfing and kayaking.

“I don’t think it’s going to be a permanent move but I am signing up a three year work contract so it will be quite a long term commitment.”

Brian wants to take his £30k savings over to New Zealand with him so he has funds to help him pay a deposit on rental properties, purchase a car and buy the equipment he needs for his new pursuits. Once he starts his job he needs to send $1,000 home each month to fund expenses in the UK.

Lump sum Value in New Zealand using the bank Value in New Zealand using Currencies Direct Saving
£30,000 NZD 57,051 NZD 59,049 NZD 1998 (£1015)
Monthly Value in UK using the bank (includes £25 charge) Value in UK using Currencies Direct Annual Saving (Monthly Saving)
NZD 1,000 £465.24 £507.05 £501.72 (£41.81)

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