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Money Transfers

Whatever your reasons for buying foreign currency, you should always be looking to benefit from the best possible exchange rates.

A favourable rate can mean saving thousands in $, £ or € on transactions such as buying a property overseas.

Smith and Ken's partner Global Currency Exchange Network (GCEN) buys currency in bulk and passes on savings to the client irrespective of whether they need to make regular transfers or a one-off lump sum payment.

GCEN was established in 2003 to challenge the stranglehold that banks had over commercial foreign exchange markets for the private and business communities. The success of the company is based on its ability to offer clients commercial foreign exchange rates and a proactive, personal service - neither of which are readily available at high street banks. GCEN's service makes it easy to save money on all currency transactions irrespective of size.

Take the risk out of paying for your property

Whether you have already found your dream home, or are still looking, it is important to know that even a minor change in exchange rates can have a dramatic effect on the price of your home.

As illustrated below, planning ahead and fixing a rate for the future can save you thousands of $, £ or €.

Protect yourself from fluctuations in exchange rates

The volatility in exchange rates can make an immense difference to the value of a property – whether you are buying or repatriating funds after selling a property.

The exchange rate between the GBP (£) and the Dirham (AED) fluctuated between a low of 4.99 to a high of 7.2793 over the last 24 months. This equates to a fluctuation in value of over £63,000 on a AED 1,000,000 property.

GCEN can offer you:

  • Superior commercial exchange rates
  • No fees or commissions
  • No telegraphic transfer costs
  • Your own currency dealer
  • Forward buying up to two years in advance
  • Regular monthly payments for pensions and mortgages at commercial exchange rates
  • Friendly and professional service
  • Notification of significant changes in currency rates

Please contact Smith & Ken today and we will arrange for our dedicated GCEN representative to help you setup your account.

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