In recent years specialised currency companies have broken the monopoly on the supply of currency services. Banks and high street exchanges are no longer the go to choice for changing currency.
These currency companies deliver much more competitive exchange rates to consumers, more personalised service, and faster transfer times than banks offer. It’s no surprise than savvy overseas property buyers and expats choose these companies to get a better deal.
A high street bank may seem like the easy option or convenient option, and may be your choice through habit, however using a specialist foreign exchange company is just as easy and more importantly works out much cheaper.
More For Your Money
Using £12,500 to purchase Euros, compare the amount you would receive from a selection of high street banks PayPal in comparison to a specialist currency broker. With a broker you would get and average €427 extra, in your pocket compared to the banks!
Lloyds TSB – €14,412
NatWest – €14,385
Barclays – €14,229
Pay Pal – €13,821
Broker – €14,769
Source for rates: moneysupermarket.com currency exchange comparison 23rd February 2012.