Banks may charge approx 2-2.5% on every exchange transaction.They offer tourist level exchange rates, even on large sums of money. If you are making a big purchase - buying an overseas property for example - talk to us. We can access much better exchange rates than the high street banks, (with no transfer fees or commissions).

Lock into an exchange rate on a falling market
In a falling market, think long and hard about delaying buying your currency. It's too easy to hope that the rate will improve but delaying could  lose you money.

Buy currency now, pay for it later
If you need to buy currency in the future but don't have all the funds now - if you are waiting for a draw down on your mortgage for example - fix the exchange rate by buying a "Forward currency contract". Put 10% down and pay the balance when you need the money.

Send money straight to the notary or lawyer
 Foreign banks charge for all sorts of things, including just receiving money. If you are buying abroad, send the money straight to the end recipient such as the notary or lawyer rather than to your own overseas account. Using your account as a staging post will cost you.

Use IBAN
European banks now have a standardised bank account number. Called the IBAN (International Bank Account Number) it is a long sequence, with between ten and twenty digits depending on the country. Make sure you use this when sending money to an account since it speeds up the transfer process and helps avoid mistakes.