To help make your money go further when migrating, FastrackOZ have partnered with the UK’s leading currency specialists, HiFX, to give you access to:
- Better exchange rates than your bank saving you up to 4% on each international money transfer.
- Simple, jargon free currency advice tailored to your individual circumstances.
- No hidden charges; no commission fees, transfer charges or overseas bank receiving fees.
- Guaranteed exchange rates for up to 24 months.
- Fast, highly secure payments for complete peace of mind.
- A global office network in the UK, Australasia*, North America and Europe.
Buying and selling currency - your options
I have access to all of the funds – what are my options?
The risk free solution would be to buy all of the currency now, thus fixing the cost at the outset. This is called buying currency for spot. You can then deposit the bought currency to earn some interest and send payment when needed.
I do not have access to all of the funds – what are my options?
If you do not have access to all of the funds at the outset you can still play it safe. The solution is to buy one or more forward contracts.
In essence, a forward contract means that you can buy the currency now, and pay for it later (when you need to make the further stage payments for example). You will be required to pay a 10% deposit now and the 90% balance upon the maturity of the contract. For example, if you wish to buy £50,000 worth of Australian Dollars, but do not need to send them for 3 months, you can agree the exchange rate now, place a £5,000 deposit, and pay the remaining £45,000 balance in 3 months. If the exchange rate moves at all in that 3 month period, you will not be affected, as you have bought currency at the originally agreed rate. You may actually fix a rate on all your currency requirements up to 24 months forward.
I have strong views about future exchange rates – what are my options?
If you have strong views about future exchange rates and are looking to achieve a specific rate, we can arrange a market order
Whichever option you decide is right for you, please remember:
The earlier you begin thinking about your currency requirements, the more likely you are to get the best exchange rate possible and make your money go as far as you do!
Additional exclusive deals for FastrackOZ customers through HiFX include:
Discounted flights with Qantas:
- Special Qantas one-way economy fares to OZ or NZ.
- Additional discounts for children and infants.
- Double baggage allowance.
For more information or to speak to a qualified foreign exchange specialist, call +44(0)1753 859159 quoting "FastrackOZ" for a priority consultation.
Alternatively, email fastrackuk@hifx.co.uk putting FastrackOZ in the subject line.