Friday, 29 July 2011

Top tips on currency exchange

For those of you who need to transfer money to relatives overseas or to make payment on an overseas mortgage it is worth checking out if you are getting the best possible deal. One thing is for certain, the banks are not offering the most competitive rates.

It is worth bearing in mind that transfering money is usually cheaper to do online than in the bank or store as there are less staffing costs involved. If you are going into the bank, a charge of £25 - £40 is likely. 

If you compare this to Money corp, a fee of £15 applies for a telephone transaction and online transfers are £10 per transaction. Furthermore, if you take advantage of their regular payment plan, fees are as low as £4 per transaction.

The rate of foreign exchange is also worth considering. Rates from banks are usually a few points worse than using a broker such as Hifx, on the flip side however is whether the low transaction fee means a worse exchange rate as that is where the brokers can make their money. 

Confusing isn't it?

Therefore, it is worth worth looking at the full picture of costs and exchange rates and hopefully it will make your money go further.

Good luck!

Road trip holiday? Check your vehicle first for a stress free time

If you are planning a stay cation this summer or a holiday to Europe by car, it is well worth checking that your car will be able to withstand a few thousand miles without any problems.There are a few things to check before you take that well earned break:

1 - Fluids. Not that you have enough lemonade for the journey but under the bonnet. Make sure that your oil levels are good and if your car is due an oild change, it may be a good time to do this.
It is also worth checking the water levels so that your car is not at risk of overheating on long journeys in hot climates.The final one that everyone can do themselves is washer fluid levels to get rid of those stubborn flies!

2 - Brakes and Air. It is worth checking the wear on your pads and also the air filter on your car prior to setting off. If your air filter is clogged it can lead to nasty consequences for your engine.

3 - Tyres - Please make sure that your tyres are the correct pressure for summer driving and have plenty of tread. The Gendarme's can be ruthless at times!

Buckle up, drive safely and have a great holiday.