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Making the most out of money transfers during the festive season

by Gemma Blommaert | Sep 12, 2008
  • Despite the economic peril that has flooded the UK’s financial markets, and with Christmas festivities around the corner, expert financial services and migration group, 1st Contact, offers some tips and tricks to curb the bitter aftermath brought upon by a waning economy over the festive season.
    Forex

    The biggest word of advice that 1st Contact gives to young travelers and professionals is to take their financial affairs into their own hands, so as to be smart, nimble and quick in responding to market fluctuations in order to safe guard themselves from incurring unnecessary additional financial strain during the festive season.

    The following 1st Contact tips apply to make the most out of the festive season within an uncertain UK economy:

    * Track Exchange Rate Fluctuations Regularly: Continuously monitor market fluctuations, enabling you to become agile in responding intelligently to favorable market conditions, when transferring funds to international destinations. Subscribe to 1st Contact’s online exchange rate notifier and currency review to receive the latest news on market movements and regular alerts of exchange rate fluctuations, so as to make the most out of an uncertain economy.

    * Shop Around: You will only get the best exchange rates if you are willing to shop around, canvass and assess a variety of different options. It is crucial to only use reputable companies who are well established, as a measure to safeguard against unnecessary risk given the current economic climate. Be aware of smaller companies who are likely to be experiencing cash flow problems, during the economic strife, which will ultimately diminish and compromise the safety of your funds.

    * Always Ask for Upfront and Transparent Exchange Rates: When you shop around, it is essential to ensure that companies are presenting you with the actual exchange rates that they have secured for you. Time and time again, traditional Forex companies have been known to present consumers with one rate whilst securing a different rate. This leads to disappointment when less money than what was originally anticipated clears into these individuals’ bank accounts. 1st Contact Forex has developed a unique platform enabling the most transparent and upfront method of transferring money to international destinations through the use of a debit card. This unique functionality is as transparent and upfront as it gets, by truly ensuring that the rate you see is the rate you get.

    * Find Out About Receiving Fees: Always be sure to ask whether you will be charged receiving fees, as most banks and traditional Forex companies have been known to charge hefty fees. 1st Contact are one of the few Forex providers who will openly reveal all hidden costs, ensuring that the rate you see is the rate you get.

    Contact 1st Contact Forex to plan your money transfer requirements safely and intelligently over the festive season: Visit http://www.1stcontactforex.com/ or money@1stcontact.com or call 0800 856 2470 (free phone within UK)

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

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    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services Licence issued by ASIC to deal in foreign exchange (1st Contact Group - AFS Licence number 335 126).

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