Doing international business and making investments overseas can be an excellent way to diversify your portfolio and grow your fortune, but with so many obstacles in the way of doing so, the entire process of making high-value purchases in a country outside of your own can often feel daunting – not to mention, incredibly stressful.
Perhaps one of the greatest frustrations we face when looking to make a payment is dealing with fluctuating exchange rates and having to pay hefty fees in order to make transfers, often losing out financially as a result. But thankfully, specialist provider of overseas money transfers for high value items, Fexco, is successfully bridging the gap and making it easier than ever to splurge on that new hillside mansion, luxury car or original work of art without the usual fuss.
From buying and selling property overseas and making other high-value purchases in foreign currency, to transferring money into foreign investments, the service aims to help its customers to send money simply, securely and seamlessly to nearly 200 countries and in over 130 currencies. And better yet, it does so while offering excellent exchange rates, passing on savings of up to five percent to customers that they would otherwise be unable to access as individuals or via their own banks.
“If you are making a transfer for a property purchase worth €200,000, you could save up to €10,000 if you were to avail of the services of a specialist money transfer provider like Fexco than if you were to use a high street bank,” explains John Dolan, UK branch manager at Fexco.
“We help you to make the most from your transfer and have a number of currency risk management tools to save you time and money – one such option is a Forward Contract,” he added.
A forward contract allows customers to lock into an exchange rate based on today’s price for either a fixed date in the future up to one year in advance, or between two specified dates, again up to one year ahead of time. This, in turn, makes it possible to reduce or eliminate exposure to the potential for adverse exchange rate fluctuation.
To make transfers as easy as possible, Fexco provides an online payment platform called PayDirect, which is similar to online banking and can be accessed via PC, tablet or smartphone. If you’re less tech savvy or prefer a more personalised, one-on-one service, then the specialist customer service and dealing team are also always on hand to talk users through the entire process, providing support throughout to ensure you always have peace of mind that things have been done correctly.
If you’re familiar with making overseas payments and transfers, then no doubt you have, at one time or another, made the occasional loss when doing so. With ever-fluctuating exchange rates, it can be difficult to know exactly when to make a payment to get the best out of it, but Fexco’s expertise aims to keep its customers informed and updated about movements through automatic ‘rate watch’ alerts so that they always know exactly when to strike.
The dealing team also make it a priority to send regular updates to inform customers about developments that might affect exchange rates and can calculate the cost of a spot payment compared to a forward payment on a client’s behalf, taking the guesswork out of the process and potentially saving you a substantial sum on large transactions in doing so.
The time frame of payments made can vary depending on the destination, but the team are able to offer an accurate forecast based on the requirements of your transaction. Often, they can be completed in just one day, which is handy when you need to move money fast.
“As a regulated financial institution, we use robust client asset procedures to keep your funds protected,” says Dolan.
“We also use major partner banks to distribute our international payments safely and securely, with our online system using secure encryption and system users have authorisation restrictions that keep your information and funds protected.”
With over 25 years of experience in international payment processing, suffice it to say that Fexco certainly knows the landscape, and over time it has become a trusted partner for both private and business clients, as well as government institutions. So, if you’ve been wondering how best to make the transfer for your new investment property or to add to your ever-growing art collection, then look no further.
While making international transfers has traditionally been a headache and a frustrating and financially risky process for all those involved, those days are now behind us, and in 2021, the entire process can be smoother and more hassle-free than ever.