There are literally dozens of reasons why we might want to send money abroad. It could be for a second or holiday property, to pay for an overseas wedding or other event, or to send money back to your ‘home’ account to help build up your savings. For businesses, it might be to pay international suppliers.
However, unless you have a bank account in both countries, you could potentially be faced with uncompetitive exchange rates, commission and transfer fees for the privilege of sending money across borders.
So when transferring money abroad, getting the best deals for fees, exchange rates and convenience can be crucial. Here are two examples of customers who have used the Telegraph money transfer service and are glad that they did.
Buying a property in Germany: Mr and Mrs Law’s story
British couple Mr and Mrs Law were planning to buy a property in Germany, but not having a German bank account at the time threatened to slow the process down to a halt. Without a bank account, how could they make the payments needed to ensure they successfully secured the property?
"We didn’t know how we were going to get it done. To open an account in Germany would have taken a lot of research and paperwork and that all takes time. We were concerned that if it took too long, we might lose out on the property we had set our hearts on.”
The answer lay in using International Money Transfers. If you are planning to arrange a mortgage with an overseas lender, international money transfers can help you get your property transaction sorted out at rates and fees that suit you.
How has using the Telegraph money transfer service saved them money?
Mr and Mrs Law told us a number of benefits they have found from using the Telegraph’s International Money Transfer Service.
- Fast overseas payments - "which ensures we never incur any fines or charges for late or failed payments."
- The exchange rate notification service - "which alerts us to opportunities to make payments when the rates have been most in our favour and that has also delivered savings."
- The ease of using the online account - "which allows you to focus on what you need to do without any of those annoying pop-ups selling extra services you find on other sites."
- The quality of the customer service - "cutting costs hasn’t meant that we lost anything on the quality of customer service, which has been great from start to finish."
Life in France: Mr Entwistle, O.B.E.
Telegraph reader Philip Entwistle, O.B.E. has been living in central Brittany for three years, and during that time has been regularly using the Telegraph International Money Service.
Mr Entwistle concurs with Mr and Mrs Law that the service has been of great benefit to him in transferring his funds to his new home, saying:
"The facility of having Moneycorp in support has been invaluable. The support, advice and guidance received have been first-rate; from day one the whole process was made easy and uncomplicated. I have used both the long-term and immediate transfer processes without a hitch; I can strongly recommend them with confidence."
Pay zero transfer fees with Telegraph Money Transfers
While high-street banks can charge up to £40 per transaction, Telegraph International Money Transfer customers can take advantage of bank-beating exchange rates and fee-free* transfers when sending money across borders.
As well as the time, money and effort it can save you, you could also benefit from access to expert assistance from a personal account manager, who will help guide you through currency fluctuations.
Mr and Mrs Law in Germany added:
“Given that we’ve had such a great experience, we wouldn’t hesitate to recommend the Telegraph International Money Transfers service to any family members or friends looking to make payments abroad."
Join 10,000 Telegraph readers and get great exchange rates, a secure online service and pay no fees with Telegraph International Money Transfer Services
*excludes regular payment plans
The above article was created for Telegraph Financial Solutions, a member of The Telegraph Media Group. For more information on Telegraph Financial Solutions click here