Relocating for Work

Relocating for Work:
Buying & Selling

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.

Relocating for Work

Relocating for Work:
Key Factors

Speak to a specialist at NewbridgeFX who can guide you through your overseas property transaction.

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.

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Relocating for Work
Relocating for Work

Relocating for Work:
Considerations

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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

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, you can set an exchange rate alert, advising us what your target rate is, or at what level you would like us to notify you. If the exchange rates move in your favour and the specified level is available, we will notify you and you can decide whether to book a transaction or to keep watching the market.

Answer

Yes, a spot contract can is useful to send money overseas when the payment is due. You will receive a spot rate at the time of booking the transaction, and the payment settled immediately.

Answer

Yes, this is a good way to reduce the risk of currency movements. You may decide to buy a property overseas today, but may not need to send any money for many months. During that time the exchange rates would have fluctuated. A forward contract enables you to secure an exchange rate today, but for settlement at a future date thus removing any risk of exchange rate movements.

Answer

Yes, you can specify the exchange rate you would like to achieve before sending money to buy the property. Unlike an exchange rate alert, if the rate is available in the market then we will immediately book the transaction, and settle the payment upon receiving your sold currency.

Answer

Yes, we provide tailored solutions to suit your requirements. The best approach depends on many factors which we will discuss with you in-depth. Such as your budget, attitude to risk, timeframes, and the structure of buying the property.

Answer

The timeframe to transfer funds abroad does not differ based on the value of the transfer. Once you confirm the transaction, and you send the funds, the transaction will settle immediately and can arrive in the recipient’s 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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