Most expatriates have their finances arranged in two, three or even more currencies. Bank accounts, assets, liabilities and responsibilities in different countries mean that most of us soon become very proficient at switching and knowing the exchange rates between the various currencies we use.
For small purchases and transactions we don’t really notice a difference in rates or charges, but for large transfers these can have a significant impact on overall costs. Typically banks will charge a 1%-4% foreign exchange charge on currency transfers. With more ‘exotic’ currencies this can be significantly higher. These charges hit you in the pocket which is why Manentia Wealth Consulting Group has partnered with Aston Currency Management.
Our partnership agreement gives Manentia Wealth Consulting Group clients a significantly better and preferential rate of exchange as well as a number of other key benefits:
- Tailored service to individual requirements
- Access to market reports and commentary
- Prompt payment processing
- No transaction charges
Aston’s service is for significant foreign exchange transactions involving amounts of at least US$50,000 or the equivalent in any currency. So while that rules out changing up your holiday money it could save you thousands when it comes to major expenses requiring a currency transaction such as:
- Property Purchase
- Mortgage payments
- Asset purchase
- Salary conversion
- Quarterly expenses
- Education expenses
- Alimony payments
If you would like to find out more about using Aston’s foreign exchange service get in touch with us or refer to the FAQ.