When you are buying French real estate and you are going to transfer money from another currency into Euros you can take advantage of one of the options a Currency Exchange provider can offer you to potentially help you reduce the cost of the purchase of your French real estate.
Here is an explanation of what a Limit Order is from a Currency Exchange Provider:
Below is an example between Euros and Sterling.
What is Limit Order? A Limit Order is an automatic purchase instruction at a target rate. For example, if a client had a LO in place to buy €200,000 at €1.20* the peak at midday yesterday would have triggered the purchase of euros and at 1.20 cost in Sterling was around £166,667. However, if the client had a Rate Watch alert in place for €1.20 their Dealer would have tried to call to see if they want to trade but if they were unable to take the call, or perhaps working and not able to pick up phone messages until after 2pm then by this time the same purchase would have cost approx. £168,000…. If they didn’t get back to us until this morning the same transfer will currently cost around £169,500….
Limit Orders are perfect for clients with time to wait but who are not always easily contactable… Yesterday is a perfect example of a shortlived rate spike that a client can capitalise on without having to do anything, plus it’s fully flexible so it can be amended or cancelled at any time (unless the rate is reached) * rates are subject to change and just used as an example in this explanation. “
That is helpful to know!
If you would like to be placed in contact with a currency exchange provider to learn more about the services offered so you can compare with what you get from your own bank. Send me an email here for an introduction.
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