How to get more money for your money
Given the need to change currencies, there are considerably better ways to do this than via a bank. Foreign exchange dealers are better able to obtain a rate that is as closer to the interbank rate than a bank, whilst reducing or eliminating transfer fees, saving you money.
Key benefits of a foreign exchange dealer
- Savings of up to 4% on the amount you transact versus a bank
- Completely transparent pricing on each transfer
- Faster international payments (same day)
- Forward contracts – fix the rate for a date in the future
- No commission and heavily reduced transfer fees
- Bespoke and professional service with your own dedicated consultant
- Free rate alert service and currency market updates
- Regular transfer system and online payments
Foreign exchange services available
Spot contracts – If you already have the funds in place, you could arrange a spot transaction. This is simply the exchange of one currency for another at the current market price where the settlement happens within two working days. A broker should be able to get you a significantly better exchange rate for this transaction.
Forward contracts – A forward contract allows you to fix a rate now for a date in the future (up to 2 years ahead). This means the rate is fixed regardless of exchange rate movements, thereby protecting you if the exchange rate moves against you.
Regular Payments – If you will be exchanging a set amount of funds on a regular basis, for example for mortgage payments or pension transfers, you can set up a regular payment order which will automatically transfer the funds on a regular basis.
Choosing a Currency Dealer
‘It is vital to use a broker that is authorised and regulated by the Financial Conduct Authority (if they are UK based), and that they ensure client funds are secure, by either segregating client money or having appropriate insurance in place to cover any loss.
Kentingtons currently suggests WorldFirst. They are the only service offering a completely fixed and transparent pricing structure which lets you see how much you will be charged based on your transfer size.
Kentingtons has no affiliation with WorldFirst, or any other currency company. We accept no commissions, or any kind of payment or incentive. Our only focus is that our clients are well served.
This is why WorldFirst provides special offers that are only available to Kentingtons clients.
Kentingtons clients will be appointed a personal account manager, James Camp, who, our clients have found offers an exceptional service and also manages Kentingtons business foreign exchange, thus we can recommend WorldFirst without hesitation.
James Camp is reachable on +44 (0) 207 095 0624. If James is not available, there Josh Saunders, who works closely with him. Naturally, if neither are available, there is always someone on hand to help.
If you prefer email, then James can be reached on James.Camp@worldfirst.com.
Alternatively, you may reach their website here.