Emigrating or having a second home abroad is increasingly common, with over 208,000 people moving overseas last year alone and, as a result, the requirement for transferring money regularly to support a life in the sun has increased. In direct response to this trend, Currencies Direct has made
its Overseas Regular Transfer Plan completely free, saving customers £300 per year on charges alone.
A recent focus group held by Currencies Direct amongst its customers living in Spain, revealed that many felt transferring funds regularly via their traditional bank was expensive, typically with a minimum charge of £25 for even the smallest amount. Customers also reported they are repeatedly subjected to poor rates because of their need to transfer lower sums of money and in an attempt to combat these issues, many were being forced to
make one-off lump sum transfers two or three times a year from funds in the UK to pay for ongoing expenses.
"Money worries don't evaporate on receiving the keys to your dream home in the sun," said Neil Redcliffe, managing director at Currencies Direct. "Juggling house maintenance, mortgage payments and even the weekly shopping bill is very hard without having the ability to dip into UK funds at least on a monthly basis. Most people want regular monthly transfers from their UK bank account but they don't want to be, and shouldn't have to be,
penalised by their banks for the privilege."
