Transferring money overseas can be quite a daunting and confusing experience for many carrying out this type of transaction for the first time. To start with, there are a number of different terms used to describe essentially the same process of ‘transferring money overseas’. For example; international money transfers or global money transfers are one and the same thing.

Your IFX foreign currency specialist will be happy to guide you through their range of money transfer services which will help you maximise your position when buying foreign currency to complete on your property deal.

Many one time investors leave foreign exchange (Forex) or currency transactions to the last minute and in the hands of their High Street bank, not aware that specialist consultants with the skills and expertise to provide a responsive and personalized service are available and at considerably less cost than the commissions charged by High Street banks. The savings can be material.

Tom Greenwood, a Managing Consultant at specialist firm International Foreign Exchange explains the process.

"We generally spend time explaining the trading options to our clients, before we agree on the best process for them. Depending on the timing of the transaction, there are several low risk strategies available. The most important point: get support and advice from a specialist who knows the market and can execute your transaction without complications. And don’t bet on the markets."

"The most likely saving available is on the commissions charged for the execution of a currency trade. Typically, a High Street bank will take a percentage of the total amount of the transaction as a fee for executing the trade. Usually this is not done at the local branch, but at a busy centralized trading desk manned by back office staff. "

"Trades are executed on a first come first served basis without regard to the daily trend. Your cost, apart from some small potential to time the trade for a favourable rate, is the commission charged for the actual execution of the trade by the centralised desk."

"Because IFX has many clients executing trades, we are exclusively focused on the currency markets and as such, we are in a position to influence the timing of trades executed by our international banking partners. This can be helpful at times."

"The most important point however, is that a low profile specialist firm with relatively low overhead and management structure can provide a low risk service at a lower commission rate than any High Street bank. On a typical property transaction this saving can often amount to thousands of pounds."

"IFX consultants are experienced professionals who know and fully understand the processes involved in foreign exchange dealing. Most importantly, for you as their client, IFX are able to dedicate the time necessary to work with you as an individual and take real pleasure in executing favourable trades for their clients.

As each client is handled in isolation, IFX are also in a position to tailor investment strategies to their client’s individual circumstances."