Some people go and visit a country but then decide they love it so much that they want to put down roots there and buy a property. If you can live abroad while still earning your living in the UK, it’s like a dream come true for some people.
But there’s a lot of admin that comes with owning a property in another country and one of the main hassles around it used to be funding a foreign bank account so that you could meet all the bills without spending a lot of money in currency transfer fees.
Before the internet had become established, people would have to rely on the bank or post office to transfer money abroad, and this meant accepting inferior rates and a couple of days’ delay in moving the money. Now, however, with internet banking and online currency exchanges that allow their customers to place currency transfers at any time, wherever they have internet access, it’s gotten a whole lot easier.
Companies like HiFX only operate online, so they have very low overheads, and can pass those savings onto their clients. So when you move money internationally with HiFX the only transfer fee you’ll pay is £9 for amounts under £3,000 and there’s no transfer fee for larger amounts. You’ll also get the best exchange rate as you can set a rate alert and trade when the exchange rate is at its most advantageous.
If you have regular bills to pay in another country like a mortgage or utilities bills, an online currency exchange account is perfect. You can store recipient bank details on your account so you don’t have to re-enter the same info every time. A few clicks after logging in and your payment will be on its way.
It’s possible to track payments online so that you know exactly where your money is during the process until the monies have been received in the other currency. Using an online currency exchange help to make owning a property in another country a privilege, not a hassle.