As a real estate professional, you want to help your customers make the most of their budget. Whether you have overseas customers, or U.S. customers buying overseas, they’ll need to make a U.S. dollar/foreign currency exchange.
Here we explain, when you partner with a foreign exchange specialist you can help your customers increase their purchasing power to the tune of thousands.
1. Get better exchange rates
Your overseas customers are going to want to try and get the most dollars for their foreign currency (and vice versa) possible. That means getting the best exchange rate.
For example, look for exchange experts who offer exchange rates 3-4% more competitive than a bank. That can yield an extra $3,000-$5,000 out of a transfer of £100,000 into dollars.
2. Avoid high transfer fees
A standard bank will typically charge $25-$50 for international money transfers. If your customers find themselves making monthly transfers they could pay as much as $600 a year. Look for a company with lower transfer fees, such as Moneycorp, whose fees begin at $4, for example, which can result in hundreds a year in savings.
3. Help your customers make the most from the market
The foreign exchange market is famously complex and exchange rates change constantly. This means that your customers need to be careful when buying currency as they could easily be caught with rates moving against them. However, it also opens up the opportunity to boost their budgets and make the most of exchanging their money.
To help your customers make the most of exchange rates and avoid any pitfalls, look for a company that offers them a personal account manager. Account managers will give expert guidance on the foreign exchange market and help you time overseas transfers to get better exchange rates from the market.
4. International money transfers are easy to make online
International transfers can be as easy as managing banking online. Be sure your partner offers simple convenient online access to manage accounts and easily make overseas payments 24 hours a day, 7 days a week, online.
5. Make sure you’re recommending a trusted transfer company
You want to send your customers to a money transfer company you can trust. Moneycorp, who are authorized and regulated by the Financial Conduct Authority and has helped thousands of individuals move money since 1979. Last year they handled over 6.4 million transactions trading over £10 billion in currencies.
For more information on Moneycorp and their partner program, visit: www.moneycorp.com/usa or call +1 877-252-8232.