Case Studies

Angela Peden, a chartered accountant from Hemel Hempstead, was looking to find an investment that would not only offer a notable return, but would also be more fun than stocks, bonds, or shares," when, while researching on the internet, she came across Florida and it’s wide array of fantastic properties. And it wasn’t just the allure of an ostensibly more exciting investment that drove Angela’s decision to consider an overseas property purchase; spreading her savings across a variety of geographic regions was also a key factor. "I believe that having all of your assets in one country is too risky," says Angela. A variety of reasons however, from a year-round warm climate to beautiful beaches, attracted Angela to purchase a spacious four-bed villa in Florida. Although her property is not on the rental market, she uses it on a regular basis and as a result needs to transfer lump sums to maintain the running of the property and to pay for her frequent visits. "I originally transferred money to America through my bank but they were inflexible, unhelpful and the whole process was time consuming. I found myself having to wait for money to clear which caused me to fall short with important payments on more than one occasion which was quite an emotional strain."

However, three and a half years ago Angela discovered foreign exchange specialist Foremost Currency and finally realised that transferring her money from the UK to America need not be so stressful. "When I transfer funds I do so via online banking which is very convenient. I transfer my money to Foremost Currency, and send them an e-mail to flag the transfer and when I need the money by. They then do the rest whilst ensuring I receive the best rate possible. The process is simple and I was asigned a personal broker which gave me peace of mind." As a result of her experience, Angela is very quick to recommend the services of a foreign exchange specialist to both her friends and her clients. "Individuals and even the many businesses I deal with rely too heavily on their banks and trust them implicitly when it comes to currency exchange. I try to turn their attention to the offerings of foreign exchange specialists and explain how much they can benefit from their services over those offered by a bank. Shopping around to find the best deals will ensure you do not lose out either through being offered uncompetitive exchange rates, or being charged commission and hidden transfer fees."

Angela also highlights the benefits to be found in the specialised foreign exchange tools that a broker should offer. For those people that prefer to be more hands-on and make their own decisions regarding currency, Angela also recommends Foremost Currency’s online trading platform. "It’s great for people who really want to take control of their own transactions and learn about the foreign exchange process. The platform allows people to watch the money markets and make online transactions to overseas accounts themselves." As a result of utilising a foreign exchange specialist, Angela can now enjoy her holiday home in the Sunshine State to its fullest without worrying about whether her money will make it across the Pond in time to join her.