My First Home Interviews Currencies Direct
Let us not forget those looking to purchase a property abroad – for they face a lot of challenges, one of which is the safe transfer of money.
Currencies Direct is one of Europe’s largest independent foreign exchange specialists, and was one of the first to recognise the need in the market for an expert secondary foreign exchange provider to traditional banks.
When making international payment expertise in seeking the best possible rate whether you are sending or receiving currency is important. Protection from foreign exchange rate fluctuations can save time and money on international payments including;
- International payments
- Regular Overseas Transfers
- Prepaid Currency Card
- Forward Contracts
- Travel Money
My First Home Interviews Currencies – Direct The following questions were presented to Currencies Direct – In particular, for those looking to purchase a property in a foreign country.
What is Currency Direct and what would you say are your core competencies?
[success]Currencies Direct is a leading non bank FX brokerage that started in 1996 and has been going strong ever since. Using us should be simple and you should get a very personalised service and a dedicated dealer who is going to inform you what is going on in the market daily and help you as much as possible – you'll also be getting it at a very competitive exchange rate in comparison to your bank.[/success]
How do you provide value to those who wish to purchase property in a foreign country?
[success]Currencies direct provide value to people buying properties abroad in several ways. First, we gonna get a very very good exchange, right much better than the bank has to be able to offer you. So you see in first side the significant amount of money, because buying a house you see is very expensive purchase in the first place. But we also can help. We could be able to provide you with a dedicated deal and we gonna give you lots of information about what's going on in the market and I make sure that you achieve the very best exchange rate at the market at that time.[/success]
How do you hedge against currency fluctuations and losses – most especially property based transactions – e.g. – monthly based mortgage payments, property bills and income?
[success]Currency market are very very volatile at the moment – with interest rates at or near zero across most of the developing world – a lot of the volatility that you find in the market is concentrated in the FX markets at the moment. So to hedge against any losses, currency direct can help you in a couple of ways – first of all say you're buying property abroad, and you expect the exchange rate to come against you may begin fluctuates in the coming months and you could lock a rate now and pay later – it is called a forward contract and it is very simple, and easy to use – a contract because the direct office makes sure you're getting a very good exchange rate.
Also, the same sort of thing if you had a monthly pension, so you could book out a whole year's worth of payments out to your account in Spain for example with a forward and everything will go through at the predetermined rate and – you gonna get – it's gonna smooth out a lot of that money and you don't have to worry about the exchange rate movements over a certain time period.[/success]
What guarantees do you provide – if any?
[success]Currency direct is regulated by the FSA and part of the regulations means that all clients funds is held separately from company funds and that means that all your money is very very safe in between your depositing it with us and sending it out – and currency direct has also the highest rating from the credit agency Dunn and Bradstreet – that's why we have a very minimum risk of failure.[/success]
What tips can you provide for: The individual or party looking to invest in property abroad for the first time?
[success]The main tip I could give to someone who is buying a property abroad for the very first time; I want to make sure that they achieve the best exchange rate; is get to know your dealer he is there to help and provide you with lots of information about the market, what's going on when to pull the trigger, and then the more information you can give him, then the better and at the better rate, he should be able to achieve for you.[/success]
The seasonal investor with a multiplicity of investments around the world?
[success]For the Seasoned investor, the main tip would be to make sure that your hedging most of your foreign exchange requirements in – the market which is very very difficult place to be and there's no growth around, interest rates are very low, lots of relationship between economic growth, inflation, and exchange rates currently have broken down and are no longer working. To be able to read the market is becoming increasingly difficult, as they are dominated by the Central Bank. Much better if the FX requirements are completely hedged and safer for all parties.[/success]
Resources Mentioned in this Interview Include: