Your Guide to Moving Currency

Owning a home abroad is a dream that many people share. Whether it’s to enjoy family holidays, retire in the sun, or start a stress-free life somewhere new, it can be tricky to know where to start. The buying process can be overwhelming. The planning, language barrier, and unfamiliar legal system can be enough to stop people from achieving their goals. That’s where we come in. Moving Currency can help make your dream a reality.

Moving Currency assists customers from all around the world with foreign exchange and money transfer services to manage the exchange of currency smoothly and safely.

We provide a fast, reliable, and secure money transfers in a way that suits your needs. You can organise your money whenever you want, wherever you want.

We’ve designed a guide to Moving Currency to provide all of the information you need regarding making the most of your money when purchasing property abroad. We also have several property guides that explore the buying process for popular locations in more detail. You can find them all here.

If there is anything else you need to know, please feel free to get in touch with our currency experts. Our professional and experienced account managers will advise you on how to get the best deal.

Currency Experts

We offer a fair service with no hidden fees. As industry experts, we can offer you better exchange rates than high street banks. With us, everything can be done online or over the phone so you won’t have to visit a branch. We will save you money while providing a simple, secure and stress-free service.

Personal Account Manager

We truly value your custom and we understand your property journey is more than just money. That’s why you’ll have your very own experienced and professional account manager dedicated specifically to you. From setting up monthly payments, paying school fees, transferring your pension or paying a utility bill, we’ve got you covered.

Peace of Mind

Transferring large amounts of money can be a stressful time and Moving Currency take protecting your money very seriously. Your funds are kept in a segregated client account known as a ‘safeguarding’ account. Your money is kept separately for security and to comply with regulations.

You can sit back and relax knowing your money is in safe hands.

Authorised and regulated

Moving Currency Limited’s payment and foreign currency exchange services are provided by Global Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN:504346).

24/7 Access

When you set up an account, you’ll have 24/7 access so you can keep track of your funds any time of the day or night. Your personal account manager will send you email updates at each stage of your transfer, so you’re always kept in the loop.

Worldwide Currency

Moving Currency deals in currencies from all over the world so wherever you're looking to buy, we can find you the very best deal.

Making the payment

 You’re probably familiar with exchanging your money at the travel agents before you jet off on holiday, but buying property is a different ball game. You can’t pay with cash, so you need to use a transfer solution to make your payment to the seller.

There is potentially a lot of money on the table so we’ve made our process simple so your currency transfer is stress-free. It can all be done over the phone or online.

1.       To start, set up your account online via our website in just a few minutes.

2.       Our team will be in touch to discuss the next steps and tailor our services to your individual requirements.

3.       You will then be assigned a personal account manager, who will be your point of contact throughout the entire process.

4.       Once you have agreed on the right transfer solution and rate, you transfer the funds into your safeguarding account.

5.       We then buy the required amount in the correct currency ready to be transferred to the seller. You won’t have to handle any cash at all.

Understanding currency risk (and how to avoid it)

 Currency value can (and will!) move up and down. Our experts keep an eye on the market so you don’t have to.

 You could potentially lose a lot of money if you don’t plan for currency risk. That’s why it’s so important to understand currency risk before you commit to buying. As buying a home can take several months, the currency rate may fluctuate during this time. The easy way to protect your budget and lock in your rate is with a Forward Contract.

Forward Contracts

A Forward Contract is a legal contract that sets your exchange rate for up to two years with just a small deposit. A forward contract commits you to buy the agreed amount of currency once your property purchase is complete, so it is only suitable for our clients who are 100% committed to buying.

If the exchange rate drops, the price of the home will increase and if you do not have a forward contract, you will need to find that extra money. If you cannot stretch your budget, you could lose your dream home abroad and your deposit too.

Other ways to buy

Limit Order

If you have a rate in mind, we can set a limit order. It’s great if you’re budgeting for a certain exchange rate. Your currency is automatically bought if the exchange rate moves in your favour and your limit order is fulfilled. We’ll notify you once your currency has been bought and funds will then be transferred in the same way as a spot transaction.

Spot Transaction

Simply transfer your funds quickly at today’s exchange rate. Your currency is bought immediately at the current exchange rate. Your Account Manager will confirm the rate over the phone, you send your funds to the client account and once they have been received your foreign currency is transferred to the account of your choice. This usually isn’t a suitable option for property purchases due to the time taken to complete.

Don’t forget we can also manage your monthly or quarterly payments so you never have to worry about missing a payment

FAQ’s

I’m only at the planning stages, do I need to make an account?

The earlier you set up your account, the more we can help you. Simply set up your account online via our website in just a few minutes or get in touch to ask any questions you have in the early stages.

Can I rearrange my payment schedule?

Our clients can manage their own payments through their personalised accounts within our login section, enabling you to organise and schedule your payments in a way that best suits you and your needs. Alternately, we can arrange scheduled payments.

Do I need to pay you straight away?

No. Setting up your account is just registering your details and needs to we’re ready to help you when the time comes to exchange. There’s no obligation to use us if you register. We only ask for the money to be paid into your safeguarding account when we need to.

I’ve found my dream property. What’s next?

Great news, it’s time to buy! Once the purchase price is agreed upon, Moving Currency will help you pay the agreed deposit to take your property off the market. Your solicitor will now start the process of purchasing the home. When you need to pay the final balance, we will simply transfer the amount from your client account with us to the agreed bank account.

Can I cancel if the exchange rate changes?

No. You cannot cancel once you have signed the agreement as is it a legal contract. You will be committed to exchanging at that rate.

Whatever stage of the buying process you’re at right now, we hope this guide has helped you. Our currency experts are on hand to guide you too. By tailoring our services we have become one of the leading foreign exchange companies currently used to organise finances, local payments, and overseas transactions.

We wish you the best of luck with your property search.

To find out more simply get in touch. We’d love to hear from you. Contact us on our UK number 0207 435 7052, our USA number 516 548 6485 or email info@movingcurrency.com

You can also connect with us on Linkedin,  Facebook, Instagram and Twitter.