Foreign Exchange - Money Transfers - ONLINE & WORLDWIDE

By-pass your bank for a better deal, saving time and money.

This excellent service, with great rates and high quality customer service, by linking to the very best Foreign Exchange Platform – Currency UK

Questions and Answers

Currency UK - Key Facts

• Send & receive International payments online 24/7
• Track from start to finish
• Bank beating exchange rates
• Free registration without obligation (helps YOU to find out more)
• Fully Regulated by UK Financial Conduct Authority (FCA) & 100% secure
• Part of the Currencies Direct Group 

What does Currency UK do?

Currency UK   allows you to exchange currencies at market leading exchange rates. Currency UK will transfer your purchased currency to your nominated bank account anywhere in the world.

What does Currency UK NOT do?

Currency UK does not provide facilities for you to gamble on the currency exchange markets. Currency UK does not provide travel money for your holidays.

How can YOU get the the best exchange rate?

Currency UK  has developed smart technology to reduce the costs of trading currencies. We pass these cost savings onto our clients. Other currency brokers employ teams of highly paid traders to talk to clients and convince them to deal through their brokerage. This is an expensive way to run a foreign exchange trading company and the costs are passed onto their clients. Banks have a long established history of charging high fees and providing poor rates of exchange which nets them fat profits at the expense of their clients

What hours are Currency UK open for business?

Currency UK is open for online trading 24 hours per day, 7 days per week, 365 days per year . Currency UK is open for telephone based trading between the hours of 9am and 5pm British standard time.

How can I get help or support?

Currency UK is fanatical about providing a fantastic support to our clients. Between the hours of 9am and 5pm British standard time, call us on +44 (0)203 004 4444. Email us 24 x 7 there is always someone ready to respond.

How do I open an account with Currency UK ?

Any private individual or company can open an account  through  Currency UK. Click the 'Open Account' button on any of the Currency UK pages. You will need to fill in a few pieces of information but it is a very quick process. In fact, we aim to open your account and have you up and trading within 5 minutes of you clicking the open account button. Note that we do have strong anti-money laundering procedures in place.

What are the fees, charges and commissions?

Opening an account is FREE. Trading amounts over £3000 is FREE. Currency UK will wire your purchased currency to your nominated bank account anywhere in the world for FREE. Fixing a rate for the future is FREE. Placing an order to be executed if the currency exchange rate reaches a particular level is FREE, even if you cancel the order 5 minutes later. Currency UK does not apply any hidden commissions or fees. The only fee ever charged is if you exchange an amount below £3000. In this case we will charge you £10 for the telegraphic transfer fee to deliver your purchased funds to your destination account. Currency UK earns revenue by applying a small price difference between the exchange rate at which we buy currencies and the exchange rate at which we sell currencies.

What are the maximum & minimum amounts that can be traded ?

You can trade any amount from £100 or equivalent upwards.

How will I know the status of a trade or payment?

We confirm by email when you have agreed a trade. We confirm by email when we have received your payment to fund the trade. We confirm by email when we have sent your purchased currency to your nominated account. You can log into your account 24 hours per day, 7 days per week to review the status of your trade. You can contact us anytime to request a status.

Can I trade on-line?

Yes, Currency UK has developed a unique online trading system which is easy to use yet very powerful. This system is not available through any other currency broker or bank and is unique.

Can I trade via telephone?

Yes, some of our clients don't like to trade online and prefer to call or email us.

Can I fix a rate for the future?

Yes, there is no need to be exposed to future currency fluctuations. You can fix a rate for all major currencies up to one year. When you fix a rate for the future, we require you to put down a 10% deposit to secure the future rate. We have to do this in case the exchange rate moves against us and a client defaults on the trade. Surprisingly, future exchange rates can sometimes be cheaper than the current exchange rate. It is always worth checking the future rate of exchange.

Can you predict future exchange rates for me?

No and please don't trust anyone that says they can. Anyone who could accurately predict the currency exchange rates would have a limitless supply of money and would be living on their own island somewhere. Currency exchange rates are acknowledged as the most difficult rates to predict within the financial markets. Treat them with respect and reduce your exposure to currency fluctuations where ever possible by fixing a rate for the future.

How do I pay for my purchased currency?

The best way to pay for your purchased currency is through electronic bank wire. Contact your bank and ask them to transfer the required amount to Currency UK
bank account held at Barclays Bank in London. Our bank account details can be found by logging onto our system. If you are based in the UK, your bank can provide the FASTER PAYMENT SYSTEM and this normally takes less than two hours. If you are based outside of the UK, your bank can provide a SWIFT payment.

How do I receive my purchased currency?

Currency UK will transfer your purchased currency to your nominated bank account anywhere in the world using the fastest electronic bank wire method available for the receiving country. Outgoing payments are cleared the same day in the UK and same or next day in the US and Europe. Allow 1-2 days for payments to clear outside of the UK, Europe and the US. However, we are always seeking to improve our service to clients and recently we have cleared payments to China the same day so don't be surprised if your payment arrives earlier than expected.

 Financial Pages in Spain

Though Financial Pages in Spain is a website and Blog for British and Irish expats and property owners in Spain, we can also offer trading in Worldwide currencies through our preferred supplier Currency UK 

YOUR link Currency UK

David Goodall

Financial Pages in Spain

davidgoodall.spain@gmail.com

Spain – The Sun still Shines and Lifestyle is Healthy

Spain is great  for holidays, working, living & retirement

The beaches are clean, the Mediterranean is still blue, the food is fresh, lots of cheap flights, great deals on hotels and apartments but forget all that the headlines are bad! UK Press always give SPAIN a hard time

Personal Experience 

We bought our first house in Spain on 7^th June 2002; it was memorable for another reason. It was the World Cup in Japan and South Korea, England played Argentina and won 1 – 0 thanks to a penalty by David Beckham.

I thought I’d write down a few reasons why we bought and let you, the reader, decide whether some, all or none of the factors still apply. This is random in no particular order;

• The climate is great and the sun shines all year round
• It’s two and half hours from home
• The flights are cheap if your dates are flexible
• We love the lifestyle, street markets, restaurants, entertainment, the beach and I could go on
• House prices are cheap compared with the UK
• A second home is for the long term, especially retirement
• The exchange rate is more favourable than it has been
• We needed and easily got a 50% mortgage
• We found someone reliable to look after the place when we are not there, giving peace of mind
• The family think it’s a great idea

I could go on but I think those 10 reasons cover most of why we bought in Spain.

The fundamentals haven’t changed and there are bargains to bought. There is now also plenty of evidence that people like the concept of Rent before you Buy.

So here are three ideas

• Rent before you buy in Spain

• Always get Professional Advice

• BEAT the BANK get better rates for foreign exchange

Viva Espana

David Goodall

Financial Pages in Spain

davidgoodall.spain@gmail.com

PS

From the ‘Guardian’ in 2013

Spanish have the HIGHEST healthy life expectancy in Europe

Read the article

Financial Pages in Spain - Key Issues

Since starting in August 2010, Financial Pages in Spain has grown to over 150 posts. Whilst time moves on, many of the issues remain the same, but need updating. This is a summary of the most popular posts over the last year, by important categories;

Pensions

• UK Pension Scheme but you Live in Spain

This post lists 30 different types of UK Pensions Schemes to help readers understand what the might have. There are then a series of questions and answers

http://expatsfrombritain.blogspot.co.uk/2011/08/uk-pension-scheme-or-plan-but-you-live.html

• QROPS – Comparing Jurisdictions

Following very substantial changes to the rules and regulations, in April 2012, QROPS (Qualifying Recognised Overseas Pension Schemes) have changed substantially. Here is an update of the key jurisdictions for QROPS

http://expatsfrombritain.blogspot.co.uk/2012/08/qrops-2012-comparing-jurisdictions.html

• QNUPS (Qualifying Non-UK Pension Schemes)

These were introduced in 2010 under arrangements to shelter retirement income producing assets from UK Inheritance Tax (IHT). British nationals who are Spanish residents often, mistakenly, think that IHT doesn’t apply to them

http://expatsfrombritain.blogspot.co.uk/2012/07/qnups-qualifying-non-uk-pension-schemes.html

• UK Overseas Pension Schemes

This summary will be of interest to expats who work, are near retirement or already retired. It includes a summary of Section 615 schemes for those who work in Spain.

http://expatsfrombritain.blogspot.co.uk/2012/08/overseas-pension-schemes-updated.html

Our hard earned pensions are often our second biggest asset (even if you didn’t know it). You need PROFESSIONAL ADVICE to look after your future income and protect its capital value. Please email to be referred to an adviser I have thoroughly checked.

Taxation

• Tax Avoidance and Tax Evasion

These issues are topical though I am regularly annoyed that newspapers, broadcasters and politicians confuse the two. Its easy to deal with tax evasion – it’s illegal. Tax avoidance is legal but much more complex. Seems to me that most taxpayers, in any country, want to AVOID tax as long as they are not illegally EVADING tax!

http://expatsfrombritain.blogspot.co.uk/2011/04/tax-avoidance-and-tax-evasion.html

• Five Non-Resident Taxes

This is an issue which never fails to amaze me.  I’ve produced a PDF which anyone can request. I suspect that everyone who owns property in Spain should be checking out. Just email me

http://expatsfrombritain.blogspot.co.uk/2012/04/five-spanish-non-resident-taxes.html

• Spanish Inheritance Tax (ISD) - Impuesto sombre sucesiones y donaciones

The first important fact that expats and property owners should know is that UK IHT and Spanish ISD are not covered by a Double Taxation Agreement or Treaty. British nationals are often shocked to learn that ISD is payable on the death of the first spouse or partner.

http://expatsfrombritain.blogspot.co.uk/2011/06/spanish-inheritance-tax-isd.html

Whatever your taxation position and even your liability in the future, planning is key. Email and I’ll link you to a professional if you give me a brief outline.

Investment Planning

• Why Invest Offshore?

Well certainly NOT for tax evasion! Offshore investment suits a surprisingly large number of expats and property owners. It’s certainly worth investigating but only through professional advice.

http://expatsfrombritain.blogspot.co.uk/2012/07/why-offshore-financial-planning.html

• Tax Efficient Savings for Expats

This includes long term investments as well as traditional savings. For the expat there is often the added complication of foreign exchange differences too.

http://expatsfrombritain.blogspot.co.uk/2012/03/tax-efficient-savings-for-expats.html

Other Important Issues

• 10 Things that some advisers won’t tell you

When someone first told me, I didn’t believe it! Many advisers, even those saying they are regulated by FSA, refuse to disclose commission which has been a UK rule since 1993. These nine other abuses too. I can refer you to advisers I have carefully checked if you email me.

http://expatsfrombritain.blogspot.co.uk/2012/09/ten-things-some-advisers-wont-tell-you.html

• Getting a Second Opinion

Financial Pages in Spain will gladly give a second opinion to any advice received – just ask!

http://expatsfrombritain.blogspot.co.uk/2012/09/getting-second-opinion.html

• La Torre Fx – Foreign Exchange

It’s online and available 24 hours per day, every day of the year. After setting up the account, it can be used over and over again. Your first use takes a little longer to comply with necessary ID checks, but after that it’s super-quick! The rates offered have been specifically targeted at beating the banks and giving you the bonus

http://expatsfrombritain.blogspot.co.uk/2012/05/unrivalled-foreign-exchange-la-torre-fx.html

Enjoy Spain – avoid the usual pitfalls and can I suggest that you follow ‘Financial Pages in Spain’

@davidgspain                                 Twitter

DavidGoodall.Spain                        Facebook

davidgoodall.spain@gmail.com    Email

David Goodall

Financial Pages in Spain

Spain – The Sun still Shines

Someone in the UK said to me ‘Not sure I’m going to Spain this year, due to the Economic mess’

The beaches are clean, the Mediterranean is still blue, the food is cheaper than last year, lots of cheap flights, great deals on hotels and apartments but forget all that the headlines are bad!

Spain is still a great place for holidays, working, living and retirement!

We bought our first house in Spain on 7^th June 2002; it was memorable for another reason. It was the World Cup in Japan and South Korea, England played Argentina and won 1 – 0 thanks to a penalty by David Beckham.

We forgot to have our 10 year party!

I thought I’d write down a few reasons why we bought and let you, the reader, decide whether some, all or none of the factors still apply. This is random in no particular order;

• The climate is great and the sun shines all year round
• It’s two and half hours from home
• The flights are cheap if your dates are flexible
• We love the lifestyle, street markets, restaurants, entertainment, the beach and I could go on
• House prices are cheap compared with the UK
• A second home is for the long term, especially retirement
• The exchange rate is favourable
• We needed and easily got a 50% mortgage
• We found someone reliable to look after the place when we are not there, giving peace of mind
• The family think it’s a great idea

I could go on but I think those 10 reasons cover most of why we bought in Spain.

The fundamentals haven’t changed, there are bargains to be bought BUT without question the biggest factor affecting the property market is a LACK OF CONFIDENCE.

So here are three ideas

• Rent before you buy in Spain

http://expatsfrombritain.blogspot.co.uk/2012/02/rent-before-you-buy-in-spain.html

• Always get Professional Advice

http://expatsfrombritain.blogspot.co.uk/2012/01/getting-professional-advice.html

• You can get better rates for foreign exchange

http://expatsfrombritain.blogspot.co.uk/2012/05/unrivalled-foreign-exchange-la-torre-fx.html

Viva Espana

David Goodall

Financial Pages in Spain

davidgoodall.spain@gmail.com

May 2012 Review – Financial Pages in Spain

Topical issues

May 2012 was the second best month in the history of ‘Financial Pages in Spain’. There are many changes taking place which affect property owners and expats in Spain. Following this blog is a great way of keeping up to date.  Follow

At the end of the calendar month, I like to reflect on the main issues and topics on ‘Financial Pages in Spain’ during May 2012. The issues which were most read during the month covered these subjects

• QROPS 2012

• Non-Resident Taxes in Spain

• Tax Avoidance and Tax Evasion

These are the issues that contributed the most readership. I’m always pleased to receive emails either to seek further advice or to comment on my articles.

Using the statistics provided by my service contractor, I can also indicate the most popular posts in terms of the number of people who visited the pages. They were, in order;

1. New Generation QROPS 2012

Major changes have been made by the UK Government to the rules and regulations about Qualifying Recognised Overseas Pension Schemes (QROPS). Though only formally announced on 21^st March 2012, these changes became effective from the start of the new UK Tax Year on 6^th April 2012.

New Generation QROPS shows more detail.

2. Five Non-Resident Spanish Taxes

It has been gratifying to see this post as a popular selection since it shows that it is read not only by expats who have become Spanish residents but also Non-Resident Property Owners. One disturbing aspect is that I have had people say that they ‘did not know’ about taxes that are due until they received final notices or maybe worse, letters to their UK address!

Non-Resident Taxes in Spain

I was also contacted by a responsible Estate Agent who is using the information for his clients. I can send a .pdf format leaflet for anyone who asks. Just email me

3. Tax Avoidance and Tax Evasion

Question: What is the difference between Tax Avoidance and tax Evasion?

Answer: A prison cell

Somewhat dramatic but since tax evasion is illegal and can lead to a prison sentence (in Spain or the UK) well worth remembering. Tax avoidance, though not illegal does sometimes come into sharp focus, as organisations seek to find loopholes in legislation.

Tax Avoidance and Tax Evasion is the detailed post, including definitions

* * * * * * *

Financial Pages in Spain continues to grow, as I can see from the statistics. Whilst Spain and UK dominate the views of both the Website and Blog, there have been readers from many other countries including France, Malta and Canada. There is also a big readership in Ireland.

Any issues which arise can be answered on an individual basis if you email me. I’m happy to receive questions from anywhere but my real expertise relates to the UK and Spain.

I am happy to take suggestions from readers about future articles. Please email me with your own ideas or issues that you think need raising.

REMINDER from Financial Pages in Spain

I’ve owned property in Spain since 2002 and hate to think how much I’ve wasted on exorbitant bank charges on foreign exchange of the years!

So I’ve linked up for a new foreign exchange service. It is available in any major currency around the world but doesn’t offer cash transactions. This is a bank to bank arrangement and is priced to beat the major banks.

But you can test it for yourself! Get a quote from your normal supplier, and then get a quote from La Torre Fx.

Even on a transfer from the UK branch to the Spanish branch of my own bank, I made a big saving using La Torre Fx. It costs nothing to get a quote. But if it’s a better deal for YOU the application process is quite straightforward. Check here

Thank you for previous feedback and requests for referral. I’m looking forward now – June is my favourite month of the year in Spain

Recuerdos

David Goodall

Financial Pages in Spain

davidgoodall.spain@gmail.com

Seeking professional advice

First anniversary week – Day one

This is the first of five posts on major issues affecting British and Irish expats and property owners in Spain. On first view it may not look like a major issue but I know from emails received that it certainly is.

No trick question but where do think is the best place to seek advice?

• A man in a pub. The classic quote I hear so often is ‘I heard somewhere………’
• An unauthorised, non regulated and unqualified person or company who calls themselves an ‘adviser’
• A properly trained, fully qualified, authorised and regulated, individual or company who not only give you the best advice, but as part of their professionalism carry PI (professional indemnity) cover in case things go wrong.

Is there really a choice?

Why would you not use a professional?

Apart from owning property in Spain for nine years and struggling to find professional advice, in the last year my Blog has lead me to many professionals. If you need advice, please email me.

My own connections included the following professionals;

• Regulated financial advisers( FSA, CNMV, DGS)
• Suitably qualified accountants
• Professional lawyers
• Chartered surveyors in Spain
• Members of the Association of Property Professionals
• Company formation for property ownership specialists

If you email please let me know your question and where you live. I may be able to answer myself, just point you in the right direction or refer you to a suitably qualified person.

For more detailed reading you may wish to look at previous posts to my Blog

http://expatsfrombritain.blogspot.com/2011/04/professional-connections.html

http://expatsfrombritain.blogspot.com/2010/11/unauthorised-advisers-about.html

Please remember that my Blog is about unbiased, factual financial information. You can look elsewhere for information but remember that an advert will certainly be biased towards the company who paid for it. I have no problem with that but remember it’s biased!

David Goodall

Financial Pages in Spain

davidgoodall.spain@gmail.com