Some advisers think currency transfer specialists like TorFX can only assist with the larger sums of money associated with property sales and inheritance cases – but this is not the case.
TorFX, five-time winner (2016-2020) of the Moneyfacts Consumer ‘International Money Transfer Provider of the Year’ award, are able to assist with currency transfers of as little as £100.
With that in mind, this month we’re looking at the 7th most popular reason that advisers’ clients trust TorFX – making payments to cover overseas bills.
TorFX offer a range of flexible currency transfer options, including an automated Regular Overseas Payments service and the ability to make 24/7 transfers through their online service and app.
If your clients are paying an overseas mortgage, have utility bills to cover or have international travel expenses to cover, TorFX can help them save time and money with highly competitive exchange rates, no transfer fees and exceptional customer service.
Exchange rates are always moving, but TorFX will monitor the currency market for your clients, keep them up-to-date with the latest market movements and help them pick the right time to move their money.
While a competitive exchange rate doesn’t make as much difference on smaller transfer amounts, your clients will still make significant savings by avoiding the transfer fees typically charged by banks and other providers.
A financial adviser owned a property in Spain and used his bank to send monthly mortgage payments to his Spanish lender.
His bank charged him £30 for every transaction, meaning he was spending £360 a year in fees.
His transfers were also being made at poor exchange rates.
The adviser set up a regular overseas payment by direct debit with TorFX.
The payments were automated, eliminating all the hassle, and the advisor saved over £360 a year.
TorFX is a multi-award-winning non-advisory provider of international currency transfer services. Their commitment to providing a personalised, client-centric service has enabled them to work seamlessly with the Wealth Management Industry.
Over the course of 2020 we’re showcasing the top 12 reasons that advisers’ clients make international transfers. Read our previous articles by following the link below.
January – Buying property overseas
February – Selling property overseas
March – International investments
April – Business requirements
May – Working overseas
June – International Inheritance
To discuss a client case or to speak to your Partnership Manager call +44-(0)1736 335740 or e-mail [email protected]
If you have your own currency requirements get a free quote now to find out how much you could save.
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