Your Dream Home In France - Moving Money To France

December 23, 2007

If you already live in France, or intend to finance your property

purchase from equity in your UK home, chances are you'll want to move

some money abroad.

Transfering money from the UK to France requires someone to handle the

transfer on your behalf and usually your bank will be happy to assist

you but beware, though convenient and familiar, your transfer might

cost you more than it needs to.

Instead you may be better contacting a currency house, a company which

exists specifically for the purpose of moving money; both large single

amounts for your property purchase, and lower regular amounts such as

a monthly pension.

Transferring money via a currency house is often cheaper than using

your bank for two reasons; firstly their charges may be lower than

your banks, but more importantly the exchange rate you receive is

likely to be more attactive than the rate offered by your bank which

is typically a tourist exchange rate and signifcantly lower than the

rate you see published in the financial press.

Better yet, both spot and forward methods are available. The former

converts your money at the prevailing exchange rate when the money

transfer is made and is the method most of us use unknowingly, whereas

the forward method allows you to fix the exchange

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