There are many reasons why someone may want to transfer funds from one currency/country to another, from business deals and transactions, holiday funds, pension/wages to property purchase. Foreign currency was traditionally bought in several ways, Bureau de Change, Travel Agents and Banks, but since the late 90s, competitive dedicated currency companies have grown to dominate the market. The huge advantage currency trading companies have over the traditional options is their sole dedication to the one objective, providing their clients with the best currency dealing rates and service.
Preparation, as always, is essential; opening an account with a foreign currency exchange broker is easy and can make the difference when funds need to be transferred quickly, without stress and with the best possible rates. These days online access to your account is essential allowing you to transfer funds at a moment’s notice. Our currency exchange partner HiFX provides all the necessary tools to help facilitate easy, effortless currency transactions with access to your account 24 hours a day, seven days a week. You can open an account online in minutes, there are no fees, no obligation to trade, no ongoing account costs, and giving you the facility to organise and transfer funds in minutes in a secure environment using the best exchanges rates available.
An account can be set up in around 3 minutes and once approved gives you access to real-time quotes on 60 foreign currencies, 24/7, and provides a secure online platform to make international money transfers easy and stress free.
HIFX are proud of their achievements to date. From over 8,000 reviews, more than any other currency specialist, TrustPilot have awarded HIFX with a score of ‘5/5 excellent’ confirming the company’s hard earned reputation for providing excellent value for money and complete peace of mind.
Founded in 1998, HiFX is one of the largest and best known international money transfer specialists in the UK with a reputation for consistently offering highly competitive, bank beating exchange rates to both private individuals and businesses alike. HiFX, to date, have transferred for its clients in excess of £100 billion. They currently help more than 75,000 people and 5,000 businesses transfer money every year quickly, easily, securely and at bank-beating exchange rates, 24 hours a day, seven days a week. Trading in 60 world currencies, HiFX is able to transfer money to over 170 countries.
Advantages of using HiFX over conventional methods of currency tranfer
- Access to live competitive currency rates
- Use of a secure online platform that uses the highest protection available – Norton Security (as used by 97 of the top 100 banks)
- From your online account you are able to make transactions, track your payment 24/7 and manage your account
- If transfering funds on a regular basis, HiFX will assign a dedicated dealer to you who will be able to advise on the most effective transfer options available
- No hidden fees. A fee of £9 is charged for transfers under £3000, for all transfers over £3000, no fee is payable
How to make a currency transfer with HiFX
- Determine how much you want to transfer, either in terms of the currency you are paying by or the destination currency.
- Agree an exchange rate, known as a spot rate (rate of exchange agreed on the spot), securing the best rate at the time for your currency transfer.
- Designate to whom the funds are to be sent. This can be to a third party or to your own bank account in another country.
- Pay in your chosen currency the amount payable. This has to be paid within a certain time period
- Once HiFX receives the payment from you, the funds will be forwarded to the designated overseas bank account.
HiFX offer a selection of options regarding how and when to make your transfer
This is a contract where you can agree a rate of exchange in advance of actually making the transfer. These can be agreed on up to a year in advance. A 10% deposit is necessary to lock in your agreement.
A limit order allows you to set a desired exchange rate and only when that rate is reached will the transfer take place. Notification is made by either email or telephone.
Setting up a rate watch is you asking us to watch and monitor the market notifying you when your desired rate becomes available. You are under no obligation to trade.
The registration process
To start the process, click on the appropriate link below which will land you on the registration page of HiFX. You’ll be asked for your personal details and a little information regarding future transactions. On completion, HiFX will process your application, usually within 24 hours, and then notify you when you can start using your account, either by email or telephone, depending on the urgency. Once your account is set up you are free to transfer funds as and when you like.