The top currency firms will offer another advantage in the form of a dedicated dealer. For large transfers, like property purchase, luxury payments, emigration, or business, there’s a certain level of complexity involved. It’s not only a matter of trading the currency at the price, but also at the right time, where conditions are most favourable. These companies will offer you impartial expert advice with the hope of saving your money.
Your dedicated currency dealer will:
- Weigh in the different options that you have, by educating you about different type of contracts that allow you to lock future price with today’s rates, or watch the exchange rates on your behalf and notify you once the rate has reached a certain point.
- Provide you with his expert opinion on currency trends. He will explain his forecast and reasoning, and can potentially save you thousands by telling you to lock the rate at the right time.
- Help you execute the payment itself, including options like regular payments (for things like salary, pension, mortgage). He will optimize the payment plan so the least amount of fees (including recipient banks’ fees or taxes) will be incurred.