Currency exchange brokers recommended to expats

Currency exchange brokers have been recommended to people who are considering moving abroad.

Rhiannon Davies, the director of expatriate advice website Shelter Offshore, advised people to think about international money transfers before they move abroad.

She added that pensioners in particular could benefit if they choose to go through a foreign exchange brokerage because they will be able to organise a forward contract.

This will let them know how much their monthly pension transfer will be worth in their new country of residence.

Research from Standard Life highlighted the need to consider state pension allowances when moving abroad.

The group advised pensioners to check if their UK pension would be frozen if they moved abroad or if their preferred destination is one of the countries to hold a reciprocal agreement with the UK.

Standard Life also found that Spain was found to be the favourite retirement destination for Britons.

Click here to make an International Money transfer to France

Posted by Eleanor Ward