Are you an expat or soon to be one? Considering foreign exchange rates and how to use a forex transfer online and transfer money abroad? Perhaps it’s something you have never even thought about, I was exactly the same. When departing your country of birth it’s difficult to think of everything before you leave.
I’m an expat. I was born and raised in the UK and escaped the oppressive and heavy financial burden which is the United Kingdom to find and build a better future in another country – anywhere else – where life was more free and cheaper to live. But as a virgin expat, lacked knowledge on UK Forex needs.
I won’t go into detail about why I left just to mention that, if you work for yourself then you start to realise that when you add up all the expenses it’s just not worth working. UK food bills, energy bills, travel costs and the price of entertainment and activities, you begin to realise you’re only at war with yourself and your own pocket – constantly.
Tens of thousands of British born individuals and families emigrate each year from the UK. Whether to Spain, Australia, America, France or to more obscure destinations like Africa, unimaginable and exotic regions of Asia or like myself, a beautiful city in Eastern Europe like Bucharest.
Often we don’t consider or look too far ahead at the economic climate on a global scale, only knowing that the current situation is neither sustainable or providing for the future. Which is where the dilemma comes into play surrounding existing UK finances, earnings, property ownership and how to gain access to that money becomes a problem.
There are several reasons to consider using a FOREX company online and many more reasons not to stick to your own bank for an international bank transfer. And several more situations where using instant foreign exchange online like western union or money gram can cost you heaps more.
For several years now, not being too savvy and having ridden the economic wave of a 1.50 sterling to euro exchange rate to see it at it’s lowest of 1.07, I’ve certainly seen the disadvantages and advantages of living abroad while still accepting earnings from the UK into a UK bank account.
It also becomes apparent that you often need access to cash based in the UK when you don’t have time to make plans to withdraw and truly save on the exchange rate. For instance, FOREX online can be planned for, if you sign up now to UK Forex you will have an active account and should you need their services, you know exactly what you’re doing when you need to take action.
Making plans on the day you need the cash from the UK very rarely works out. I have accepted western union payments, money gram all at terrible rates and with high fees. I have also sold a house and transferred that cash to Europe using my bank, again at a high cost and not the greatest foreign exchange rate.
I am beginning too learn, a little bit late, that UK Forex is probably my best friend when it comes to transferring money abroad and getting the best FOREX rate available. Not only can I often get the best and nearest rate closest to the interbank rate but I can also set and agree a rate for up to two years in advance utilising forward contracts.
The devil is also in your pocket. The visa or Mastercard you carry around and use abroad while living abroad is your enemy. Instant cash yes but the worst exchange rates and the fees for withdrawing cash from a cash machine simply don’t make good financial sense.
Ease of access and quick access to UK cash in our own banks, also accepting earnings from clients in to bank accounts in the UK because it’s faster all seems to keep us on our toes and stop expats from saving on their foreign exchange transfers and doing things properly. Not everyone can save a wedge before they can transfer a larger amount.
But that’s the blind, you don’t need to transfer tens of thousands to save on foreign exchange and international bank transfers. You can make one off payments, arrange for salary to be paid through FOREX, any number of amounts and if over a certain denomination threshold, the transaction is often fee free.
To benefit from foreign exchange online you just need the knowledge of how to proceed and I’ve found with UK Forex they are there to help. With each and every transaction, should you wish, you can speak to someone with an heart beat and ensure your FOREX transfer online goes smoothly.
I’m still muddling my way through the day to day necessity of getting money from the UK weekly, monthly and yearly. Gauging the international currency rates, taking politics into account and trying to get the most on the foreign exchange rate.
Until banks in Europe allow online foreign exchange between countries and instant or at least on the day, then a foreign exchange currency broker like UK Forex will do their best to save you money and keep it in your pocket. Europe has a long way to go before that day arrives, least of all internationally. Europe has only just got around to stage one of allowing finance to foreign residents.