If you would like to ask further questions, simply call 0870 010 0095 and we will be more than happy to help.

If you are unsure of what some of the words mean, click here

How does the service work?

Once you have opened a trading line with us you are under no obligation to trade. You can use the facility any time to transfer payment for your overseas property directly to the agent or proprietor abroad. If you have the funds to hand, and wish to transfer the funds immediately, you can simply make a ‘spot transaction’. You call us for a current commercial rate (spot rate) and order the payment over the phone. We’ll fax, email or post confirmation.

Most people choose to use a ‘forward contract’ to secure a favourable rate now for a completion date any time up to 2 years in the future. With a low deposit you agree to make a payment on a future date, at a locked rate. No matter what happens to exchange rates in the meantime, you know how much your property will cost.

What rate of exchange will I get?

Your dedicated Travelex currency dealer will secure you a current commercial rate of exchange. Because foreign exchange is all we do, we can beat the ‘tourist rate’ and quote more competitively than high street banks or other sources. Unlike many agents who may quote an average or estimated conversion rate, we quote ‘live’ rates. And remember, we charge no fee or commission for large transactions*.

What happens if the exchange rate moves?

If you choose a forward contract, that means you agree to buy a certain amount of foreign currency from us, on a certain date, at a certain rate. Whatever happens to the exchange rate during that time it does not affect your agreement with Travelex.

Can I renegotiate if the exchange rate changes?

No.

Do I have to pay the full amount in advance?

Not if you take out a forward contract. We require a low deposit of the amount booked, but the remainder is only payable 2 days before the completion date. You can open a Home Buyers account prior to securing funding, as long as funds are in place by the time you book the deal. Of course, if you use a spot transaction for an immediate payment, you will need to pay the full amount straight away.

We accept the following methods of settlement:

Direct Debit Hold – THIS IS FOR REGULAR PAYMENTS
With this method of payment, all your transactions can be completed by direct debit. The direct debit is cleared through your bank prior to the release of your payment, which takes five working days.
Direct debit dates are the 1st, 7th, 14th, 21st and 28th of each month.

Cheque
We will arrange for prompt clearance of your cheque, this takes 5 working days from the date we receive your cheque.

CHAPS
You can arrange a CHAPS payment through your bank to be paid into a Travelex account. Your electronic transfer or draft payment will be released immediately on notification from our bank that the funds have been credited.

CHAPS
Your cheque.

BACS
A BACS payment can be organised through your Bank to be paid into our account. We normally receive this within 3 working days from the date you initiate the BACS. Payment will be released immediately upon receipt.

PLEASE NOTE THAT WE ARE UNABLE TO ACCEPT CASH FOR ANY PAYMENTS

How long does it take to set up a trading line?

As you’d expect from the world’s leading foreign exchange specialist, we have the fastest and easiest systems that speed up and simplify the process for you. Once we have received your application, complete with proof of identity and property purchase details, we can arrange your foreign exchange payments by phone or fax instantly.

What information do I have to provide?

The Home Buyers application form requires the proof of your personal details (a certified photocopy of a driving Licence or a passport), proof of residence (photocopy of one utility bill e.g. electric/council tax/residential phone – not mobile) not more than 3 months old, and your bank account details. We also require details of your property purchase and your solicitors contact details. We have to take all of this information under UK regulations.

What is money laundering?

The term ‘money laundering’ describes the various methods used by criminals to disguise the proceeds of their activities. This includes placing the money in a financial product, often using a false identity, before transferring it into other accounts where it becomes difficult to trace. We have a legal and moral duty to prevent accounts being opened in false names. The fact that we ask for proof of identity does not mean you are suspected of money laundering. The checks apply to everyone, helping to protect you and your property.

What if the deal falls through?

If your purchase falls through before completion, but after you’ve taken out a forward contract, we can ‘Roll Over’ your contract to a later date in case you find another property or cancel your forward contact (fees may apply).

How do I know my funds are secure?

Travelex is a specialist in international payments. Some 18,000 corporations and multinational organisations trust us to handle their international business transactions. As a private customer you benefit from the same world-class secure system and we will track your payment all the way to its destination.

*Transfer fees apply to non-property transactions.

Why do you have 0870 numbers and not a localised numbers?

This in case of an emergency and our offices have to be evacuated all our 0870 numbers can be re-directed to anywhere else in either the UK or overseas. We believe this would be better for our customers. We do have localised numbers for those who are outside of the UK.