Isas may impact international money transfers

Emigrants who need to access their funds abroad in order to make money transfers have been advised to take out Individual Savings Accounts (Isa).

The Telegraph recently encouraged Britons to apply for an Isa before they start their new lives abroad.

Expats needing to make international money transfers, such as repaying loans, may profit from the tax-free savings accounts.

The paper stressed that if Brits intend to use Isa investments internationally, it is important to take out new accounts prior to their international move.

This is because additional money cannot be stored in Isas abroad but savings can be accessed for international money transfers.

Furthermore, if potential expats see better rates for the accounts while they are still in the UK, they should consider moving their funds before changing countries.

In other news, sales of Croatian Kuna soared recently as increasing number of Brits transfer funds to the area.

Click here to make an International Money Transfer.

By Linsey Summers.