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If you’re relocating for work, you’re likely to be embarking on a new adventure but there’s a lot to think about. You’ll need to think about moving your possessions, maybe selling your car and purchasing a new one and even purchasing a new home. Whatever it might be, you’re going to need to think about transferring your money overseas.

While you might think that this is a simple process, it is one that requires expertise but opting for a sub-standard service or even relying on your own bank could result in problems and you might even lose or spend more money than you need to.

Why You Need A Professional Service

Whether you are transferring all of your money or part of your savings overseas, you’ll need to consider the currency you are moving to but the most important factor is the foreign exchange market. This is where the exchange rates between currencies move on a minute-by-minute basis and so, having insight and expertise in this can make a huge difference to the entire process.

Markets are forever changing and shifting and the exchange rate between your current currency and the new currency can fluctuate. Therefore, there are risks associated when transferring money overseas. This can include losing money through something as simple as making a decision at the wrong time. Along with this, you’ll also need to make sure you don’t overspend on fees. Banks are known to be the most popular choice for those relocating overseas because of the simplicity of being able to approach their bank and going through the process. However, with this comes the risk of not understanding the right time to make the transfer, resulting in you potentially losing a lot of your money. They’ll also charge high fees that will also be deducted from your money.

It’s imperative that you make your money work as hard as possible for you. Using foreign exchange specialists, you’ll be able to take advantage of insight and a clear understanding of the markets, helping to mitigate risks that are associated with making international transfers.

You’ll benefit from first-class support and market monitoring that will enable you to make an informed decision when transferring the funds. One shift in the wrong direction could see you lose thousands of pounds but one shift in the right direction could result in your money increasing – it’s the ability to monitor and identify currency movements that enable you to avoid negative impacts on the Foreign Exchange markets.

There is also the potential to lock in exchange rates using forward contracts instead of, or alongside the securing the spot rate – something that you might not benefit from when turning to a high street bank.

Using an expert service will provide you with access to a wealth of knowledge that you can trust and rely on. Transfers are seamless, quick and efficient, ensuring you take action at the right time. You’ll save money too, ensuring you transfer as much of your own funds as possible.

NewbridgeFX can help you to transfer your funds when relocating for work by offering a fee free, fast, efficient and secure service. For further information on how NewbridgeFX can help please contact us

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