Emigrating Overseas

Emigrating Overseas:
Secure an Exchange Rate

Moving to a new country can seem daunting and it requires planning but you’ll also need to consider your finances. Moving money overseas comes with risk but you need to make sure you mitigate those risks by making informed decisions, which you can do by using a foreign exchange expert like NewbridgeFX. 

Foreign exchange rates are a huge consideration when moving overseas and, in a few weeks, exchange rates can change either way by a significant amount. So, you want to make sure you benefit when the market is in your favour, and minimise any risk when it is not. As a result, utilising a foreign exchange expert will ensure that you get the best rate and service possible.

Through an understanding of market news and behaviours, we can ensure that your money works hard for you. This might include taking advantage of market orders, rate alerts, and other tools ensuring you secure the best rate, at the right time.

Emigrating Overseas

Emigrating Overseas:
Transfer Money

Speak to a specialist at NewbridgeFX who can help you transfer your money when emigrating abroad 

Register and setup an account with NewbridgeFX

Once your account is setup you will have access to our online platform, our live exchange rates and risk management tools.

Speak to a specialist

Discuss with us your plan for emigrating, when you need to transfer money, what you need the funds for and your short- and long-term plan.

Strategy

We will work with you to formulate a strategy to transfer your money, at the best possible exchange rates, when you need it.
Register an account
Emigrating Overseas
Emigrating Overseas

Case Study:
Forward Contract

Make Sure You Budget Well

Once you arrive in your new country you are going to find that you have to meet several expenses.  They can range from buying a property, nursery fees and general costs of living. Yet, being short of cash is not something you want to experience from the start and so, you need to budget well. To be able to do this, you can secure your exchange rate using various products, such as forward contracts for example, that enable you to secure a rate, yet settle at a date in the future that suits you.

Secure Your Income

Whether your money is coming from pensions, investments or somewhere else, you need to think about transferring your income if it is coming from the country you are emigrating from. NewbridgeFX will ensure that all currency exchange and money transfers are safe, secure and regulated. You’ll also have access to specialist advice should you need it.

Buying A Property

You might opt to rent but many choose to buy as it makes their new home feel like home. Yet, purchasing a property is a big move, especially if you are using the proceeds from your previous home to cover the costs, meaning that a large amount of money will need transferring. This is where you need to make good decisions because getting the exchange rate and timing wrong could mean that you pay more, but getting it right might mean that you pay a lot less. Through the use of risk management tools, NewbridgeFX have the ability to let you know when it is time to pull the trigger and secure the best exchange rate.

Reduce Expenses

Payments between countries can cost a lot in fees, especially if you use your bank, which, unfortunately, many do for convenience. But these fees can soon add up but that doesn’t have to be the case. NewbridgeFX will offer rates that are more competitive than high street banks, and not charge any transfer fees, ensuring that you get more for your money and avoid large expenses at the same time.

Case Study:
Emigrating Abroad

Emigrating Abroad Case Study

Emigrating abroad comes with many challenges. This case study looks at how Mr. and Mrs. Richards had to consider the foreign exchange and international payments market when they decided to emigrate to America.

Mr and Mrs Richards chose to emigrate to Florida. They had already been to visit many times and decided to rent a house while they decided how and when to transfer their savings to their new home. First, they spoke with their bank who suggested they send their money to their new bank account in America in one lump sum. They also advised the costs for making the transfer which included a high spread on the exchange rate, and a payment fee.

Through a mutual friend, the Richards contacted Newbridge Foreign Exchange. We discussed all their requirements in-depth, and helped them to create a plan to transfer their funds to America when they needed them, and when the rates were favourable. This included sending funds immediately to cover living expenses. Securing a forward contract to secure the exchange rate for the property they planned to buy in 6 months’ time. And setting up a regular payment to transfer their pension on a monthly basis. All transfers were fee-free and arranged at the best possible exchange rate.

The Richards had benefited from the knowledge and experience of the team at Newbridge Foreign Exchange. We had the scope to find them a better rate than the bank could offer, and fix it in place in readiness for when they were ready, all at no cost, so the Richards transferred all their money to their new home.

Products:
Manage Risk

NewbridgeFX offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients. A lot of these products are ways for businesses, and individuals, to manage and mitigate currency risk, and are used frequently during times of increased volatility. Alongside up to date foreign exchange related market news, which works in tandem with our range of products. 

Spot Contract

Lock in an exchange rate for immediate onward settlement. Funds can be received the same day.

Forward Contract

Lock in an exchange rate today, but for settlement at a later date that suits you, up to 12 months in the future.

Market Order

We monitor the markets real time and take action to trade between currencies when your desired rate is achieved.

Rate Alerts

Set an alert for phone or email notification when an exchange rate has be achieved to take advantage at the best time.

FAQ:
Forward Contract

Answer

Yes, if you are not in a hurry to transfer the funds to the country you have emigrated to, then you can set an exchange rate alert and we will notify you when your specified exchange rate is available to book.

Answer

Yes, a spot contract is there for you to send money when you need it. We will give you a spot rate, and you can decide whether to proceed with the transaction. If you book the transaction you will need to send us your funds within two working days. Once received, the payment will settle into your nominated account.

Answer

Yes, once you’ve emigrated overseas, if you did not need to send all your funds immediately, a forward contract is useful to secure an exchange rate, and settle the deal at a future date. Once you’ve emigrated you may need to buy a property, but you may decide to rent first before buying, this is when a forward contract could become suitable for you.

Answer

Yes, like the forward contract FAQ, you may not need to send all your funds straight away. You may also want to wait to transfer your funds overseas until a specific exchange rate is available. In this case, a market order allows you to secure an exchange rate you want to achieve. If the market moves and reaches the level you want to achieve we will secure the rate for you and book the transaction. At this stage, you will transfer the sold currency to our account, and we will settle the payment to your account overseas. Unlike an exchange rate alert, if the rate is available in the market then we will immediately book the transaction for you.

Answer

Yes, we provide tailored solutions to suit your requirements. Once you have decided to emigrate overseas we can work together to decide on the best approach to transferring your money. This will depend on when you need funds available, what you are sending funds for, and the exchange rate available to you at the time.

Answer

When emigrating overseas, you may have a large sum to transfer. There are many products available to you, and once we have booked the transaction we can send the funds immediately. The value of the transaction does not impact the time it takes to settle, and there are no limits to how much you can send. Once the payment settles the funds can arrive in your nominated account the same day.

Benefits:
NewbridgeFX

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Multi-Currency Account In Your Company Name

Receive funds from your customers in to your own named collection account, using one account number for all currencies, or a local in-country account number still in your company name.

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Create And Manage All Your Beneficiaries

Add and manage your beneficiaries, perform bank account validation & verification checks as you enter your beneficiary details & bulk upload multiple beneficiaries via a CSV file.

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Make Fast & Secure Payments To Over 200 Countries

Real time Swift and local payments are settled the same day, within minutes (currency/country dependant) and payment tracking capabilities allow you to keep updated on the payment status.

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Multi-Currency Balances

Hold multiple currencies and access balance information in supported currencies. Receive, convert, send and move money between your multi-currency accounts without making payments.

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Convert Over 45 Currencies, 24/7, Using Multiple Devices

We provide informative, up to date market news, including updates on currency movements, upcoming economic events and announcements that can impact the foreign exchange market.

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Real-time Reporting And Tracking

View and track all conversions, payments and incoming funds using our online platform and receive email notifications when funds received, conversions processed and payments released.

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