If you are in the process of purchasing a property overseas, or have already taken the plunge and are now in the process of paying off a mortgage, you will likely be familiar with making currency transfers.

Although you may be happy to make transfers through your bank, you could be interested to learn of the many benefits of using a specialist currency broker.

Getting the most from your money

The most immediate benefit of using a currency broker for overseas transfers is that, unlike most banks, brokers generally won’t tack any extra fees onto transactions.

When making regular transfers, such as monthly mortgage payments, these fees can quickly add up and you could save a considerable amount of money by using a broker to avoid them entirely.

On top of this, currency brokers will also generally offer a far more competitive exchange rate than most High Street banks.

This may work out as only a few pennies on the pound, but it can make hundreds or even thousands of pounds of difference depending on the size of your transfer.

Less hassle

Dealing with a bank can often be a major hassle, even more so when attempting to move your money overseas.

However leading currency brokers have helped to simplify the process by offering greater flexibility and seamless transfers.

With some brokers you can make transfers using an app on your smartphone, allowing you to move your money 24/7, from anywhere in the world.

Currency experts

For those who would prefer to talk through your currency options then you will be happy to learn that some brokers, such as the Everything Overseas preferred currency partner, Currencies Direct, still employ dozens of currency experts who can provide step-by-step advice as they guide you through your transfer

They can also help advise you on the best way to make your transfer, cutting through the jargon to explain when and how to move your money to ensure that you get the best value for money.

This personalised service helps to ensure that your transfer goes off without a hitch and you get to spend more time on the important things in life.

Currencies Direct has 22 branches located worldwide, meaning that it is often possible to chat with their friendly currency experts not just over the phone but face-to-face as well.

On top of this their currency experts can also provide daily updates straight to your inbox, so you can stay abreast of what’s happening in currency markets, helping you to better-prepare for any movement that may affect your transfers.

Greater flexibility

Currency brokers also offer a host of different services not offered by High Street banks that can help make your transfers as pain free as possible.

One of the most helpful services offered is the ability to use a forward contract to fix a currency rate for up to a year, allowing you to accurately budget for your future transfers.

Another service that can help to make your overseas mortgage payments a doddle is to automate your regular transfers.

This helps to ensure your money is exactly where it needs to be when it needs to be there, and by fixing the rate you will also be protected from any unfavourable movements in the currency markets.

So if you are tired of the hassle involved in paying your overseas mortgage through a bank and are looking for a better way of making regular overseas currency transfers then you should consider approaching a reputable currency broker, such as Currencies Direct.