Many people do not plan or even realise the effect of currency fluctuations and take a significant risk with their finances when they buy property or invest abroad. Currency fluctuations can affect a house/motor yacht purchase, savings or pension/mortgage payments, and every year many people lose money through lack of knowledge or good advice.

When transferring funds abroad people should consider the exchange rate, the costs involved in transferring large amounts of money and the personal service that foreign exchange companies like World First are able to give. 
 
When transferring funds abroad people should consider the exchange rate, the costs involved in transferring large amounts of money and the personal service that foreign exchange companies like World First are able to give.

There are a number of currency exchange services that World First offer to help clients moving money abroad. Along with our unbeatable exchange rates, you have the option to:

- Purchase a forward contract. We can fix the exchange rate for your purchase up to one year in advance
- Make a same-day, urgent payment
- Use our market watch service. We monitor the currency market for you and let you know when it reaches a pre-agreed rate
- Set up regular transfers to cover, for example, mortgage payments or living expenses

The first mistake most people make is assuming their bank is the best option for transferring large sums of money. However, most banks charge hefty transfer fees and offer poor exchange rates. Savings can be between 0.5%and 3%of the amount being transferred.

This can mean that on a one-off transfer of €150,000, a bank may cost up to £2,000 more than World First. For example:

	World First	Bank
Exchange Rage	1.2585	1.2403
Transfer Fee	£0	£30
Total Cost	£119,104	£120,938
Total Saving	£1864

For more information about our services and to speak to a foreign currency expert, call World First 0800 783 6022.
 www.worldfirst.com