Thinking about transferring money between currencies?

If, like many people, you keep an eye on exchange rates you will have seen that Sterling is looking stronger against the US Dollar. This means that if you are considering transferring Sterling to US Dollars, UAE Dirhams or any other currency pegged to the US Dollar, this could be a good time to take action.

Whilst it is impossible to predict how rates will move, if you have been considering moving your money, this could be a good time. Even if you do not have funds available at the moment, did you know that you can still take advantage of the exchange rate by forward fixing?

multi currencyIf you are planning on a currency transfer of a minimum of GBP 2,000, AED 12,000, or equivalent in any currency, you can take advantage of wholesale exchange rates that are significantly more competitive than those offered by your own bank and save up to 3% on the cost of transferring, without any fees.

Of course the same applies to other currencies that are pegged to the US Dollar, such as the Omani Riyal, Bahraini Dinar, Qatari Riyal, Saudi Riyal, to mention just a few.

Another useful service for anyone travelling either on holiday or on business is a facility to organise a prepaid currency card. Rather than carrying large amount of cash or being charged hefty fees on your ATM withdrawals, you can order a card pre-loaded with US Dollars, Euros or Sterling. No currency risk and no danger of losing cash.

The company that I use personally, as well as recommend to my clients, has its head FCAoffice in the UK, is fully authorised by the UK Financial Conduct Authority (the new name for the Financial Services Authority) and uses a major international bank for transfers. Transfers are available to and from any tradable currency. This system can be used by both individuals and companies.

Transfers are quick, easy and secure. We all want to get the most for our hard-earned money and a few minutes of effort could reward you with significant savings. You get a friendly and efficient service from a human being and will usually deal with the same currency dealer each time you call.

Contact me on keren@holbornassets.com for details of how you can save on your next currency transfer. Or register directly using the ‘currency exchange’ link on the home page.

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About financialuae

A qualified and experienced Independent Financial Adviser based in Dubai, UAE. Professional and ethical. Freelance writer on personal financial issues & the On Your Side column in The National. Regular radio guest. Senior Partner at Holborn Assets LLC, Dubai, UAE.
This entry was posted in General financial information and tagged , , , , , . Bookmark the permalink.

2 Responses to Thinking about transferring money between currencies?

  1. therealgeordiearmani says:

    Thanks for sharing this information.

  2. Mustafa Ayad says:

    Useful information’s! thank you

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