Moving Abroad

Emigrating Overseas:
Secure an Exchange Rate

Moving to another country can seem daunting – it requires careful financial planning. Moving your finances abroad comes with risk; informed decision making helps mitigate those risks.

Foreign exchange rates are pivotal for a move oversea. Within a few weeks exchange rates can fluctuate significantly, so you want to make sure you benefit when the market is favourable to you and minimise risk when it is not. Utilising the expertise of foreign exchange expert will ensure that you obtain a competitive exchange rate, providing invaluable support while you focus on other aspects of the move.

Through an understanding of market news and behaviours, we can ensure that your money works hard for you. This might include taking advantage of market orders, rate alerts, and other tools ensuring you secure market leading exchange rates, at the right time.

Emigrating Overseas:
Transfer Money

Speak to a specialist at St. George Foreign Exchange who can help you transfer your money when moving overseas 

Register and setup an account with St. George Foreign Exchange

Once your account is set up you will have access to our online platform with our live exchange rates, allowing you to complete your transactions.

Speak to a specialist

Discuss with us your timeframe for emigrating: when you need to transfer money, what you need the funds for and your short/long-term milestones.

Strategy

We will work with you to formulate a money transfer strategy at market leading exchange rates, exactly when you need it.

Emigrating Overseas:
Considerations

Make Sure You Budget Well

Once you arrive in your new country there are new expenses to meet.  Budgeting well can help you avoid being short of cash from the outset – selecting your exchange rate using products such as forward contracts will enable you to secure a favourable rate when you choose and settle at a future date to suit you.

Secure Your Income

Whether your money is coming from pensions, investments or elsewhere, you need to think about how you’ll be moving your finances abroad on an ongoing basis. St. George Foreign Exchange work with FCA regulated providers to ensure that all currency exchange and money transfers are compliant, safe and secure – with  access to specialist support should you need it.

Buying A Property

You might opt to rent but many choose to buy as it makes their new home feel like home. Yet, purchasing a property is a big move, especially if you are using the proceeds from your previous home to cover the costs, meaning that a large amount of money will need transferring. This is where you need to make good decisions because getting the exchange rate and timing wrong could mean that you pay more, but getting it right might mean that you pay a lot less. Through the use of risk management tools such as spot contracts, forward contracts and market orders, St. George Foreign Exchange have the ability to let you know when it is time to pull the trigger and secure a competitive exchange rate.

Reduce Expenses

Payments between countries can cost a lot in fees, especially if you use your bank, which, unfortunately, many do for convenience. But these fees can soon add up but that doesn’t have to be the case. St. George Foreign Exchange will offer rates that are more competitive than high street banks, and not charge any payment fees, ensuring that you get more for your money and avoid large expenses at the same time.

Case Study:
Emigrating Abroad

Emigrating Abroad Case Study

Emigrating Abroad Case Study

Moving abroad can be both exciting and complex. This case study highlights how Mr and Mrs Bloomfield navigated the foreign exchange and international payments landscape when they decided to emigrate to the United States.

Having visited several times, the Bloomfields chose to settle in Florida. To give themselves flexibility, they initially rented a property while deciding how and when to transfer their savings. Their first step was to consult their bank, which recommended transferring their funds in one lump sum to their new US account. However, this approach came with notable costs, including a high exchange rate margin and transfer fees.

Through their solicitors, the Bloomfields were introduced to St George Foreign Exchange. After an in-depth consultation, we worked closely with them to develop a tailored strategy that aligned with their plans and timing. This included making an initial transfer to cover immediate living expenses, securing a forward contract to lock in an exchange rate for a property purchase planned in six months, and setting up a regular payment to transfer their pension each month. All transfers were arranged fee-free and at highly competitive exchange rates.

By working with St George Foreign Exchange, the Bloomfields benefited from expert guidance and a more strategic approach to managing their currency needs. With access to better rates than those offered by their bank, and the ability to secure those rates in advance, they were able to move their funds with confidence and maximise their financial position as they settled into their new home.

FAQS:
Emigrating Overseas

Can I receive exchange rate updates before I transfer money?

Yes — if your transfer isn’t urgent, you can set an exchange rate alert, and we’ll let you know when your desired rate is available to book.

Yes, a spot contract is there for you to send money when you need it. We will give you a spot rate, and you can decide whether to proceed with the transaction. If you book the transaction you will need to send us your funds within two working days. Once received, the payment will settle into your nominated account.

Yes — once you’ve emigrated, if you don’t need to transfer all your funds immediately, a forward contract can help you lock in an exchange rate and settle the transaction at a future date. For example, you may plan to buy a property but choose to rent first. In this case, a forward contract can be an ideal way to secure the rate you need when you’re ready to purchase.

Yes, like the forward contract FAQ, you may not need to send all your funds straight away. You may also want to wait to transfer your funds overseas until a specific exchange rate is available. In this case, a market order allows you to secure an exchange rate you want to achieve. If the market moves and reaches the level you want to achieve we will secure the rate for you and book the transaction. At this stage, you will transfer the sold currency to our account, and we will settle the payment to your account overseas. Unlike an exchange rate alert, if the rate is available in the market then we will immediately book the transaction for you.
Yes, we provide tailored solutions to suit your requirements. Once you have decided to emigrate overseas we can work together to decide on the best approach to transferring your money. This will depend on when you need funds available, what you are sending funds for, and the exchange rate available to you at the time.
When emigrating overseas, you may have a large sum to transfer. There are many products available to you, and once we have booked the transaction we can send the funds immediately. The value of the transaction does not impact the time it takes to settle, and there are no limits to how much you can send. Once the payment settles the funds can arrive in your nominated account the same day.

Products:
Manage Risk

St. George Foreign Exchange offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients when sending money overseas, and are ways for businesses and individuals  to manage and mitigate currency risk. 

Spot Contract

A Spot Contract from St. George Foreign Exchange gives you access to the current market rate with immediate settlement — delivering speed, certainty, and seamless execution.

Forward Contract

A Forward Contract from St. George Foreign Exchange secures an exchange rate for a future date, safeguarding your transactions from currency volatility.

Market Order

A Market Order from St. George Foreign Exchange lets you set target exchange rates, automatically executing transactions when the market meets your desired rate.

Rate Alerts

Rate Alerts from St. George Foreign Exchange notify you of favourable currency movements, helping you make informed exchange decisions at optimal times.

Benefits:
St. George Foreign Exchange

Tailored Currency Solutions

Customized strategies to meet unique business and individual needs, ensuring efficient and personalized service.

Competitive Rates

Favorable exchange rates help them reduce costs and boost both cash flow and profitability.

Risk Management

Tools like Forward Contracts, Spot Contracts, and Market Orders reduce exposure to currency fluctuations, providing stability in financial planning.

Efficient Global Payments

Seamless international transactions for paying overseas staff, suppliers, and other foreign exchanges, simplifying global operations.

Market-Leading Online Platform

A secure, user-friendly platform to manage foreign exchange transactions in real-time, offering convenience and control.

Proactive Support

Dedicated, customer-led support helps clients make informed currency decisions, ensuring optimal timing and pricing for transactions.