The Importance of FX for Expats
Foreign exchange (FX) is an important aspect of life for most expats. If you’re living abroad, chances are that you regularly send money overseas or exchange currency in some capacity. If you hold or invest money in a different currency to what you spend, your wealth could be at risk of unfavourable exchange rates.
Finding the right foreign exchange will mean making your money go further.
Whether you receive your income or salary in a foreign currency, exchange income for saving or investing purposes, or perhaps you need to transfer the proceeds of an international property sale to your home currency.
Whether you are earning money or investing overseas, working with the right FX provider is crucial to protect the value of your money. Some providers offer services which are specifically designed for travellers and expats, operating at faster times and charging lower rates than traditional banks.
If your money is not exchanged at the right rate, and at the right time, your wealth could be negatively impacted, especially if you are converting currencies regularly.
As exchange rates are subject to constant fluctuations, using a well established and knowledgeable foreign exchange provider can help mitigate potential risks to your money, and they may even be able to hedge against potentially harmful fluctuations, or offer other risk management strategies.
The Wealth Genesis works with a curated panel of expert FX providers who offer the best solutions for expats:
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XE
Founded in 1993, XE has become one of the world's most trusted and established authorities on foreign exchange. They have processed billions of global payments through their XE Money Transfer service.
For simple conversions and transfers, XEs service is transparent, reliable and easy to use.
Aston CM is a privately owned and highly experienced FX provider, offering transparent guidance and a more tailored and personal experience when it comes to foreign exchange.
Aston CMs services allow clients to set up an account to hold funds, make international payments from anywhere in the world, buy and sell 14 currencies and hedge 80 currencies.
FX Advice for Expats