Repatriating funds from France
Transferring funds across borders
After living and working in France, Dr Whiteley was looking to return to the UK. As a result, he needed to repatriate the funds from selling both a GP Practice and a home, but was unsure of how to proceed in order to secure a transfer that offered him good value.
"I found that using high-street banks would lead to high fees and poor rates. I looked for alternatives and selected moneycorp because, in addition to rates that were 3-4% cheaper, I could see they were an established organisation with a good track record."
Achieving great rates and receiving support
The rates weren’t the only issue, however. It can be complex managing overseas transfers and in addition, volatility within the currency market means that the rates fluctuate and can impact the amount of money received on a transfer. On large sums such as those resulting from the sale of the practice and a house, even a fraction of a percentage point can make a big difference to the overall total and so the timing of a transfer is important. It is also felt that high street banks may not be set up to offer the necessary level of visibility during the transfer process, so by having an appointed specialist like moneycorp to provide support throughout the process can be invaluable.
"My account manager provided guidance and support, including regular updates on the market, and it was great to have a named contact to speak with for additional reassurance."
Trusting a specialist.
As a specialist, moneycorp carry out roughly seven million transactions a year and as experts, can provide a swift, secure and professional service which takes some of the stress out of transferring large sums of money.
"The transfer process went very smoothly, and I was kept informed throughout. In contrast to high street banks which can take 2-3 working days for a transfer, the funds were in the UK very quickly and it was totally transparent the exact rate I had selected for the exchange."
moneycorp offer great exchange rates, low fees and an expert service with the personal touch for all your international money transfer needs. In addition, RCGP members receive their first transfer free – simply quote RCGP when opening your account.
"I have since recommended moneycorp to friends and colleagues and would not hesitate to do so again. It can be hard to know the best way to send funds overseas but I can wholeheartedly recommend moneycorp, both for a great value, secure transfer and for their professional service standards."