Foreign Currency Exchange and Overseas Payment Solutions

Time:   Date: 30/07/2010
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Foreign Exchange and International Payment Solutions

What is the best method to transfer money overseas?


That depends on how much money you want to exchange and what the purpose of the money transfer is. The majority of our private clients transfer money overseas to pay for property purchases, and recently we have seen a large increase in the number of clients transferring money back to the UK.

On amounts over about £5,000.00 it is essential you obtain advice from a specialist money exchange company otherwise you could be losing out. Pure FX helps thousands of clients transfer money overseas in a secure and cost effective manner. By using Pure FX for your money transfer, not only will you obtain a better exchange rate, we will be able to guide you through the entire process of sending money overseas.

For example when you transfer money overseas did you know that some banks will charge a receiving fee. This is a particular issue in Spain, where banks can deduct up to 0.6% from the money you transfer. So if you transferred €100,000.00 to an account in Spain you could see €600.00 deducted. Pure FX can alleviate this charge for you.


Regular payments overseas to France and Spain

Pure FX has launched a new money transfer service for regular payments to France and Spain without any transfer cost.

This facility is ideal if you have ongoing euro obligations, for example mortage payments, or are receiving a pension in sterling and want more value for money. Once it has been set up it is completely automated and hassle free.

Providing you send more than £500.00 per month you will benefit from better exchange rates and faster payments. Please contact us directly for more information.


How long does it take for Pure FX to transfer money?


We are often asked should clients use Pure FX for their money exchange, then how long does it take for the money to arrive, and is this longer than if the client used their own bank?

The short answer, Pure FX will transfer money overseas quicker than the client will be able to on their own.

How, well Pure FX only make overseas money transfers by priority same day transfer through Lloyds Group PLC, and does not outsource money transfers to any third party. Net result funds normally arrive on the same day or latest within 24 hours.

There is a small caveat because depending on which country you are sending money to, and also the currency you are transferring, it can take a day or two longer. For example if you transfer Australian dollars on a Monday because of the time difference your funds will have a value date of Tuesday.

Below is a table which will help you establish timescales on your foreign money transfers.

CurrencyCurrency codeValue date
Australian DollarAUDNext Day
British PoundGBPSame Day
Canadian DollarCADSame Day
Czech Republic KorunaCZKTwo days
Danish KronerDKKSame Day
EuroEURSame Day
Hong Kong DollarHKDTwo days
Hungarian ForintHUFTwo days
Indian RupeeINRTwo days
Japanese YenJPYNext Day
New Zealand DollarNZDNext Day
Norwegian KronerNOKSame Day
Polish ZlotyPLNTwo days
South African RandZARNext Day
Singapore DollarSGDSame Day
Swedish KronerSEKSame Day
Swiss FrancCHFNext Day
Thai BahtTHBTwo days
UAE DirhamAEDNext Day
United States DollarUSDSame Day


Money transfer services for companies


Corporate clients who use Pure FX for their money exchange tend to have an ongoing requirement for money transfers and probably fall into one of the following categories:
  • Importing / exporting overseas
  • UK subsidiary of International Corporation
  • Manufacturing
  • Recruitment, placing candidates overseas
  • International event management


It goes without saying that our corporate clients save thousands of pounds through better exchange rates and also by having the option of fixing exchange rates to protect costs / profits. However one cost saving, which is often overlooked is the fact that Pure FX can make all the foreign money transfers for the client, saving them the time and hassle.

One client recently told us he has saved over £500.00 just by not having to have the international option on their internet banking facility.

So to summarise, if you are buying a property abroad and need specialist advice on your money exchange, or work for a company with ongoing an ongoing requirement for money transfer services then Pure FX will certainly be able to assist.