How do I get the Best Exchange Rates?

The likelihood is that when you’ve been on overseas trips in the past, you probably haven’t been too concerned about the exchange rate you received.

Obviously it’s great if you do happen to pocket a little extra spending money, but the difference the exchange rate makes on a few hundred pounds of business expenses or holiday money is likely to be minimal. In brief; you’re unlikely to be having long, sleepless nights fretting about whether you exchanged your funds at the right time.

However, if you are regularly making foreign exchange transactions or you need to transfer larger amounts then it can be worthwhile to consider your options.

Firstly, forget moving money through high street banks; the best exchange rates and the most comprehensive service are available through currency exchange specialists. These companies can move your international payments just as quickly as banks. And, in addition to immediate payments, they can arrange ‘forward contracts’, allowing you to secure an attractive exchange rate up to two years in advance. A specialist will also be able to deliver rates that the banks will not or cannot offer.

So just how much difference can it make?

Let’s assume you’re emigrating to Australia and have accumulated a net wealth of £250,000 after the sale of your house, car and other assets. Had you exchanged your currency on the 24 March 2015 you would have arrived with AUD$471,455. But if you had waited a few months until the end of July 2015 you would be departing with AUD$538,178. That’s a difference of AUD$66,723 Aussie Dollars in only 4 months – and it’s solely due to exchange rate volatility.

What’s more, the foreign exchange markets are constantly moving; so that volatility throws up these sorts of opportunities on a more regular basis than you might imagine.

Sadly, there is no crystal ball that allows you to predict just when it is the right time to exchange your funds but there are undoubtedly clear opportunities to transact at the right time. These are governed by a number of factors including a countries’ economics, geo political conditions, market psychology and international investors’ attitude to risk. A good foreign exchange specialist will understand currency movement chart the market and provide guidance to help you make informed choices on your currency management.

To find out how you can take advantage of positive fluctuations in the market and exchange your currency at the right time to get the best possible rate, call 020 7350 5474 or visit

Written By David Johnson, Senior Analyst, Halo Financial

“Halo Financial has been invaluable in planning our foreign currency requirements. They have kept us in touch with the markets and provided accurate market analysis enabling us to hedge our foreign currency risk. As a result, we have been able to achieve significant savings compared to our previous currency partner. We particularly like the personal service and prompt attention we receive from the whole team and would definitely recommend their services.” Recent Customer quote – from

Authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, FRN: 528727.

Her Majesty’s Revenue & Customs MSB registration No. 12197454.

© 2015 Halo Financial Ltd. Registered in England No. 5155787.
How do I get the Best Exchange Rates17Aug2015


The contents of this article are for reference purposes only and do not constitute financial or legal advice. Independent financial or legal advice should be sought in relation to any specific matter. Articles are published by us without any knowledge or notice of the circumstances in which you or anyone else may use or rely on articles or any copy of the information, guidance or documents obtained from articles. We operate and publish articles without undertaking or accepting any duty of care or responsibility for articles or their contents, services or facilities. You undertake to rely on them entirely at your own risk, and without recourse to us. No assurance of the quality of articles is given or undertaken (whether as to accuracy, completeness, fitness for any purpose, conformance to any description or sample, or otherwise), or as to the timeliness of the publication.

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Mother of three grown-up daughters I am the ultimate multi-tasker and am passionate about my role as Silversurfers Website Editor and Social Media Manager. Always on the lookout for all things that will interest and entertain our community. Fueling fun for the young at heart!

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11th Nov 2016
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Plenty of advice of moving money abroad for savings or emigrating etc., but can we have advice on how to find the best rates just for holiday cash. I am off to New |Zealand for 6 weeks and am trying to find out the best deal to get cash, or should I do a bank transfer of money to my sisters bank account in NZ ?
Help please

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