YOU NEED A SERVICE THAT’S FAST, COST-EFFECTIVE AND RELIABLE
More and more of us are making regular payments abroad to maintain properties or fund ex-pat lifestyles. It’s important we can trust these transfers will take place as expected, and won’t cost the earth. This guide explains how to mitigate the effects of currency volatility on your payments overseas.
TOP TIPS FOR MAKING REGULAR PAYMENTS OVERSEAS
Sending money abroad on a regular basis can be an administrative bore. What’s more, currency volatility can cause unnecessary stress as the cost of transferring funds can fluctuate from month to month. Brexit-style shocks to the market can see an increase of as much as 15% to your monthly payment.
TOP TIPS FOR TRANSFERRING CURRENCY
USE A CURRENCY EXPERT
Exchanging funds and transferring them abroad always feels like a risk. And currency volatility means the cost of regular payments can see-saw up and down which hardly helps your planning. You need to be able to trust the people that are moving it for you. This means having someone available on the phone to answer questions and give expert assistance on the workings of international currency markets.
EXCHANGE ONCE, PAY OFTEN
Worried about Brexit and the effect of a weaker pound? Caxton’s new direct debit service, twinned with our Forward Contract, means you can fix the exchange rate for up to two years, giving you peace of mind that all payments over that period will be locked at the same exchange rate.
WATCH OUT FOR HIDDEN FEES
Banks and building societies charge a fee for sending money abroad. The rates they offer are often the worst available. It’s not their core business so they don’t need to offer a good deal.
“Knowing I was getting the best rate available meant I could relax. The moment my money is transferred I receive an email alert which provides even more peace of mind.”
INTERNATIONAL PROPERTY OWNER
4 SIMPLE STEPS TO INTERNATIONAL TRANSFERS
SPEAK TO ONE OF OUR ADVISERS
OPEN A PREMIER ACCOUNT
CHOOSE THE RIGHT TIME TO EXCHANGE
Choosing the right time to exchange currency can save you thousands. Let our dedicated account team help you safely navigate the market.
TRANSFER MONEY ON AGREED DATE
A GREAT RATE, TIMES TWELVE.
Every summer, Nick and his wife let out their house in Devon and decamp to a picturesque village on the edge of the Landes forest not far from Biarritz. With bounteous sun, good quality wine and swimming pool in the garden, they’ve spent the last 20 years living the ‘good life’.
That’s not to say their life is not without its complications. Uncertainty around Brexit and the triggering of Article 50 has seen the pound weaken by about 20% against the Euro so when a friend told him that Caxton’s International Payments service would cost a fraction of his high street bank’s equivalent, Nick was eager to investigate.
Every month saw Nick having to transfer funds to cover the cost of house and car insurance, electricity, water, TV and other utilities. Caxton’s market-busting rate and lack of hidden charges began to mitigate the effects of a weaker pound and reduced the impact of spiralling costs.
For Brits living part or all of the year abroad, Brexit is providing an unwelcome complication. But Caxton’s International Payments Service means Nick and his wife can forget about currency exchange and focus on the next challenge: the children and grandchildren that treat their home like a free hotel!
SPEAK TO A REGULAR PAYMENTS CONSULTANT
ERROL IZZETSENIOR ACCOUNT MANAGER
Overview: Helping clients with proactive account management to maximize on their currency exchanges and helping them navigate through a very uncertain FX climate.
Specialist Area: Currency repatriation, Property exchange, Forward guidance and Hedging solutions
How long: 6 Years
Why a customer should believe: I am passionate about providing an excellent customer experience and delivering an efficient service that will truly benefit clients.020 7201 0546