Money Exchange News

Money Exchange

Foreign Currency Direct are my go to team for all of my clients. When it comes to moving money around, this team have helped my clients for a decade and have never let them or me down. With house purchases and selling, the difference between a good and mediocre exchange company can save or lose you thousands on your currency exchange.

A few weeks ago we had some great news from them.

We are almost a month into the New Year, and the newly agreed trading terms between the UK and EU. Whilst the reaction to this from the currency markets has been fairly muted, there have been some changes to the way in which we are able to service clients both living in, and sending money to, the EEA.

We have identified that in some cases, Spanish banks are charging clients to receive funds, citing the fact the UK is no longer part of the EU as justification. 

Naturally, we have been working to try and find a resolution for this issue so we can continue to provide the competitive and convenient service our clients are used to. By working with Barclays Bank, we have a solution which avoids these receiving charges, so if you have a payment to make to Spain you can continue to do this without the worry of additional charges being levied.

This function has been put in place today and is effective immediately. You don’t need to do anything differently when making payments, just provide us your recipient’s bank details as usual and we will do the rest.

This issue continues to impact many currency exchange providers and their clients. We’re keen to assist any person sending funds to Spain wanting to avoid these charges.

We will continue to develop the services we offer our customers in line with the changing economic landscape, and have some exciting updates to share with you throughout this year.

If you would like a personal chat with the team, please drop me a line and I will put you in touch.

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