Transferring funds for Cyprus property can be a costly business, with bank charges, commission fees, exchange rate fluctuations and much more.
We strongly recommend you call one of the currency brokers we recommend on the links page.You must quote our web site to qualify for the free transfers which we have negotiated on your behalf when you speak to an advisor.
Currencies Direct pride themselves on providing good rates and personal after care service, even free transfers for our clients (must mention www.Living-Cyprus.com to your dealer) They offer excellent guidance on the volatility of the currency markets and even hold the rates static for up to one year. They will also be happy to purchase currency once it reaches a certain rate that you specify. Once you make contact, you will be assigned your very own currency dealer who will manage you account throughout your transaction. Currencies Direct offer a free transfer for our clients, just mention R-LVCY to qualify.
Remember, you will save pounds on your Cyprus property this way so contact them today quoting Living-Cyprus.Com for FREE transfers.
You can fix the exchange rate once you are back in the UK by using a currency broker. They will buy currency for you on a “spot” basis or a “forward” basis. This means that you can fix the rate of exchange today, therefore knowing exactly what your costs will be when you come to wire the funds over. You do not have to provide the funds now in most cases, just a deposit like 10% for forward trades. As you may only have paid a reservation fee whilst in Cyprus, you will have agreed terms of payment with the vendor. These are the dates you will want the money sent out there. Our recommended currency brokers will not charge you the cost, anything from £15 upwards, to wire the money if you mention Living-Cyprus.com to qualify. The receiving bank should only charge a nominal amount because the funds are in Cypriot pounds for credit only. Some banks do not charge to receive funds to your own account.
By using a service such as this, we saved over £1000 on commissions, fees and costs. Mail us for further details of providers.
