Why Currency Exchange is so Important

When purchasing a property in Spain, payment must be made using Euros and therefore you will likely need to exchange your currency. The currency exchange rate and deal you get could dramatically affect what you are able to afford and how much you pay for a property.

The currency exchange market can be volatile at times with rates fluctuating constantly. Depending on where you go you may be charged additional fees. Banks for example are known to offer higher exchange rates with different additional fees. They can take up to 5% of your total transfer – that’s a huge £10,000 on a £200,000 transfer. This could potentially mean the difference between being able to afford your dream home or not. It is therefore important to choose how you transfer your funds very carefully.

Our Currency Exchange Partner

At Las Colinas Property For Sale, we have carefully selected our currency exchange partner, Excel Currencies, to ensure our clients receive the best deal and the best service possible. Excel Currencies say:

“Our core values are the same today as they were when we started in 2004. We are disrupting the international money transfer industry by combining a fair price, fast delivery of funds and exceptional customer service”.

Excel Currencies are FCA regulated meaning they are authorised by the Financial Conduct Authority, keeping your money safe and secure at all times in your own E-wallet account. With no transfer fees, transparent exchange rates, your own personal account manager and free market reports and rate alerts, you could save 5% compared to your bank. Money transfers can be made online, via email, over the phone or in person. If you need money quickly then they offer money transfers in less than 2 hours meaning you never have to worry.

Conversion Options

Excel Currencies offer several different conversion options, perfect for varying currency transfer needs. From purchasing a property to transferring a regular income moving forward, you can choose what suits you best.

Regular payment – Ideal for a regular income such as a salary or pension, you can set up a standing order with your bank.

Spot payment – For when you are in a hurry, spot payments usually reach your account within 30 mins to 2 hours.

Flexi-spot payment – You are able to secure your exchange rate and send your funds over the next 5 days with no deposit

Forward payment – This is essentially a ‘buy now, pay later’ transfer option where a deposit is generally needed. You can secure the exchange rate now for a date in the future.

Market order payment – You can place an order for funds to exchange when the rate hits a specific number.

If you have any additional questions about currency exchange please do not hesitate to contact us at Las Colinas Property For Sale. Alternatively you can contact Excel Currencies who are always happy to assist with any questions or currency exchange needs.