A Sterling Effort

Do your research now and it will pay dividends in the long run, says Josh Jeffery as he shares his tips for saving money on your currency transfers in 2018

- Josh Jeffery

The UK’s vote in favour of Brexit might have left pound exchange rates considerably weaker than they were pre-referendum, but that doesn’t mean that you should shelve any plans to move abroad in 2018.

While the pound did plummet in the wake of the UK’s decision to leave the EU, it recovered from its worst levels in 2017 and concerns that the GBP/EUR exchange rate would reach parity (where one pound would be equivalent to one euro) were never realised.

If you’re planning to move to France this year or are thinking of buying a property there, it’s still possible to get a good deal on your currency transfers – you just need to do your research.

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Many people use their banks to transfer money overseas simply because they don’t realise that other options can be simpler and more cost effective. A specialist currency broker, for example, can handle international money transfers quickly and securely, and at bank-beating exchange rates. Reputable currency brokers will be authorised by the Financial Conduct Authority (FCA), so you’ll know your funds are in safe hands, and as currency transfers are their only focus, they’ll be able to give you access to a range of specialist services that the banks can’t.

GET THE BEST EXCHANGE RATE

Since the Brexit vote, pound exchange rates have been in the news a lot more often, but what do you really need to know about currency movements?