Currency exchange specialists can 'save thousands'

People who are considering moving abroad could save "thousands of pounds" by using the services of a currency exchange specialist.

International money transfers and other services available through an independent foreign exchange broker could dramatically reduce the cost of the move, according to John Greenwood.

Writing in the Daily Telegraph, Mr Greenwood claimed that moving money through currency exchange dealers can help cut out on foreign exchange fees and offer a good rate of exchange.

Mark Bodega, marketing director for HiFX, explained the benefits of international money transfers to the paper: "The sooner you begin to understand what is happening with exchange rates, the more likely it is you will get a deal that is suitable.

"If there is a rate available and it will get you what you want, but you think it is a low rate, you should think about what it will mean to you if the rate gets even worse."

He added: "If it means that you won't be able to buy the property you want, then you should accept the lower rate."

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Posted by Eleanor Ward