Avoid losses and stress when making regular overseas payments

The financial organisation involved in making an overseas move doesn’t just end the minute you complete on the property. You will likely have a number of regular payments that you need to make, and receive, to, and from, the UK for your mortgage, salary, or from pension payments.

As your regular payments will involve transferring currency, they too will be subjected to the volatility of the currency exchange rates market. If these regular payments aren’t effectively managed, the additional costs you might incur could end up making quite the financial dent in your savings.

Smart Currency Exchange’s Regular Payments Plan is perfect for you if you need to manage a number of regular overseas payments.

We recommend you speak to our trusted partners, Smart Currency Exchange, who can continue to save you money on all your regular currency exchange payments, including:

• Pension transfers
• Mortgage payments
• Property service fees
• The repatriation of funds back to the UK

Smart Currency Exchange’s Regular Payments Plan

Smart Currency Exchange’s Regular Payments Plan is perfect for you if you need to manage a number of regular overseas payments. Plus, they can help you to make sure you never miss a payment, and that you save money on every transfer.

The plan is efficient and easy to set up – you can set up a standing order for no extra cost, and the first payment can be in your overseas bank within just a few days, rather than the few weeks you can expect with direct debit payments. The subsequent payments will then all be made automatically at intervals that you pre-determine.

Smart Currency Exchange’s Regular Payment Plan can ensure you protect yourself against currency fluctuations when paying your Italian mortgage, or transferring your pension to Italy.

Smart Currency Exchange can also allow you to take advantage of a Forward Contract on these regular payments – meaning you can set the exchange rates for all of your payments for up to a year. This is an invaluable budgeting tool, especially in those first few precious months when you’re still getting in the swing of things, and learning about what your new life in Italy costs you. Although locking in a rate for your regular payments may not seem as pressing as for transfers of larger sums, the amounts you can lose at the hands of these exchange rate fluctuations can really add up. Setting up a Forward Contract means you will always know how much is coming out, and going into your account each month.

Benefits of the Regular Payment Plan

• The opportunity to save money on every currency transfer
• Easy set up and automated service
• No penalties for small transfers
• ‘Fixed’ exchange rate option with a Forward Contract
• Expert personal finance guidance
• No contract tie-in

A forward contract lets you set an exchange rate with your personally dedicated trader for a defined period of time, which can stretch up to a year.

Forward buying your currency for regular payments

A Forward Contract allows you to set an exchange rate in advance. This will help you avoid the losses associated with exchange rate changes, and will ensure you receive the same amounts each month from your regular salary or pension payments.

Here’s how a forward contract works: you set an exchange rate with your personally dedicated trader for a defined period of time, which can stretch up to a year. You will then pre-book the amount that you will plan to transfer in this period. The amount that you have set for each regular payment will be taken out of this pre-booked amount each month at the agreed exchange rate. This means you’ll always know the exact amount coming or going, regardless of movements in the market.