Cesar Crespo is beaming on the day of our meeting. Having taken over the post of Regional Manager of Moneycorp just this year, he states, “I am really pleased to have joined Moneycorp during a time when our services are in such high demand.”

Unlike typical financial institutions, Moneycorp has been specialising exclusively in currency exchange for thirty-six years and last year the company transferred just under GBP14 billion in foreign currencies on clients’ behalf.

Moneycorp is authorised and regulated by the Financial Conduct Authority (FCA) and is a registered Money Service Business with HMRC so you know that your money is always in safe hands.

As an authorised Payment Institution, the company is legally required to safeguard client funds. For an excellent review of its services, see Feefo.com, where over 3,825 users give the company a 97 per cent rating.

To enlighten me on how much better an exchange rate I could receive from Moneycorp, Cesar shows me a comparison for an amount of £100,000. Compared to the exchange rate I would receive from some of the UK’s most famous banks, I could save as much as £4,000. “The amount saved can be impressive,” says Cesar, “especially for those purchasing a home. The savings alone can be sufficient to help in the furnishing of their new property.”

Cesar notes that most of his clients on the Costa del Sol hail from the UK, Scandinavia and a mix of other non EU countries: “Many have identified a property they intend to purchase and want to ensure they don’t lose out on the currency exchange; others rely on us to exchange their pensions into euros.” Moneycorp can help you with:

Purchasing a home in a foreign country
“The company deals in over 90 currencies and its online platform gives clients access to up to 27 currencies, ” Cesar says, adding, “Timing is everything when you are making a large transfer.

We assign each client their own personal dealer, who will take the time to understand each client’s currency requirements and offer specialised tools to protect them from currency fluctuations to make the best transfer at the best possible time.”

Other services offered include “forward contracts,” which fix an exchange rate for up to two years in advance to ensure you are not negatively affected by exchange rate fluctuations during the purchase period. “Clients can also target a specific exchange rate via a ‘Watch Order’.

Moneycorp is able to act quickly. For example, “If the transfer needs to be made speedily, we can arrange urgent exchanges and transfers that in most cases reach the recipient’s bank account within the same day.”
*Priority sending to Spain.

Making smaller transfers
Clients can go online and opt to make regular payments. Cesar says, “For recurring transfers, we have a fully automated Regular Payment Plan (RPP), under which we collect your sterling via direct debit and automatically send the foreign currency abroad.”

Transfer schedules are flexible, so you can make payments weekly, monthly, bimonthly or as desired.” Some of the many typical transfers include mortgage payments, utility bills and paying for maintenance fees abroad.

Converting rental income back into your desired currency
“Some clients rent their holiday homes abroad and wish to have access to monthly payments in their own currency.”

Returning Home / Repatriation
Clients who have just sold their home or business in Spain can save by using Moneycorp’s services via our exclusive Currency Repatriation Service.

Transferring money to friends and family overseas
When gifting money to friends or family, the latter should ideally receive the maximum amount possible; Moneycorp can ensure this is the case.

Becoming a Moneycorp client is easy. “All it takes,” says Cesar, “is identification such as a passport and proof of address typically suffice.” You can then rely as much as you need on your personal dealer or make your own exchanges when you see fit via the online service or your personal dealer at Moneycorp. The online accounts are simple and straightforward, so making the transaction you need is quick and easy.

With over 125,000 traded customers and over 97 per cent of clients stating they would rely on the company again, Moneycorp offers a great service and ensures that your money remains just that: yours, with no hidden fees, no over-the-top commissions and with the peace of mind of knowing your money is with a company you can trust.

Words Marisa Cutillas Photography Courtesy of Mugge Fischer

Centro Comercial Cala Sol, Blvd. La Cala, Edificio B, Local 10, La Cala de Mijas. Tel: 952 587 657.

www.moneycorp.com/spain or email essential@moneycorp.com