International money transfers help cover costs

International money transfers can help people with overseas property to cover unexpected costs.

Research conducted by the Post Office International Payments has revealed that 40 per cent of overseas homeowners have had to fork out unexpectedly for extra costs involved in the upkeep of their house.

Indeed, 65 per cent of people who own a property abroad have had to transfer money occasionally from their sterling funds to the local currency, while a further 26 per cent claim to be doing so on a regular basis.

Council taxes, shared upkeep fees, central heating and air conditioning were among the causes for the extra expenditure.

Sarah Munro, head of international payments at the Post Office, said: "Those who have a property abroad should ensure they fully research their money transfer service to ensure they are not being charged to move their money."

Using an international money transfer service to move the funds will allow consumers to benefit from a competitive rate of foreign currency exchange.

Click here to make an International Money transfer

Posted by Eleanor Ward