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| Smart Currency Exchange Newsletter |
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I hope this email finds you well. No pleasantries or updates on my or my daughters gardening abilities this month… I’m going to cut right to the chase as I have a couple questions for you: Question: If I gave you £1,000 would you read the full contents of this email? Answer: That’s for you to decide…but let me tell you this…It is VERY POSSIBLE that you WILL save well over £1,000 for simply taking 2 minutes and 43 seconds to read the following… +++ Okay…another question for you: Question: How would YOU (yes…I mean YOU personally) get the best currency exchange rate? A. Wrong Answer: I would use a bank. B. Mediocre Answer: I would use Smart to get a better-than-bank currency exchange rate. By using Smart I can save around 2% to 4% so that’s a savings of £2,000 - £4,000 for every £100k I transfer. Not to mention getting a better service, the elimination of receiving bank charges and quicker transfer times… (note: See below Guardian clipping – they published our rates as beating all other currency specialists on the 20th October 2007) C. Best Answer: I would sign up to Smart as soon as I know that I need to move money. By doing this, I can use Smarts expertise and TIME (i.e. 2-3 months) to my advantage. Rather than waiting until the last minute and having to possibly buy at the worst time, I can work with Smart on a strategy that not only provides me with the best rate on the day, but helps me to possibly save much more by BUYING AT THE RIGHT TIME! ~~~~ I cannot tell you how many people make the mistake of leaving their currency transfers until the last minute. Regardless as to whether you have the money to buy currency now or not, it doesn’t matter. No matter what your situation, we can help you, but you need to contact us sooner rather than later. Below, I’ve outlined two client stories to fully explain the issues concerting timing. I know they’re a bit long…but just consider the £1,000 you’ll potentially save by reading this:
Let's pretend that it is NOW July and you need £200,000 worth of Euros FOR September...
If you purchased in September the amount of Euros you would have received would be 12,000 euros LESS than buying them in July! (That’s the price of a car, or all your white goods, or x amount of plane tickets…) TIMING IS IMPORTANT - Buying currency at the RIGHT time is just as important, if not more important, than getting the best rate on the day! (I’m really trying to hammer this into your head…as it’s so important, yet so often overlooked! Everyone things it's getting the best rate on the day...) This is why it's IMPERATIVE that your or any one that you know who is buying overseas signs up to Smart Currency as soon as possible. The more time we have, the more chances we'll have to provide the best rate. To give you an indication of the clients we work with and how we assist them, let me give you two Smart client stories: Client Story 1 A client named, Bob, contacted us at Smart at the end of August to pay a deposit on a seaside property in Portugal. He was purchasing a second holiday home for his family and friends and was particularly excited because he had been saving for a long time. To Bob, this was a dream come true. He also felt that this purchase was an important investment for his retirement. At Smart, we secured the initial deposit amount at 1.47 so the 20,000 euros cost him a total of £13,600. Bob needed to pay the balance in 6 weeks - on completion of the sale. Due to the fact that Bob had budgeted on an exchange rate of 1.45 he decided to forward buy the balance at a rate of 1.465 (better than he budgeted for) costing him a total of £153,475 . This amount was just over £1,500 pounds cheaper than he had initially budgeted for.
Right after Bob purchased, the credit markets around the world began to become very nervous about risky debt and this culminated on the now infamous ‘run on the Northern rock’, something that had previously happened 150 years ago. After the bank 'crisis' and continued uncertainty surrounding Interest rates and house prices, sterling fell to its lowest point in around 14 months. As a result, had Bob waited until the middle of October to purchase the balance of euros to pay for the property it would have cost him an extra £4,300 (this loss does not take into account the extra £3,000 to £5,000 he would have paid if he used the bank)! The moral of the story: If a Smart client has a rate in mind that he or she would be happy with (i.e. the rate they used to calculate the purchase price of the property when they decided to buy)...and we can get that rate (or better) for them, we often suggest it's best to RESERVE the currency for a purchase in the future. By doing this, the client has peace of mind that cost of their property will not change. Furthermore, they only have to pay a small deposit and can keep their funds in their bank account earning interest until the money is needed.
Client Story 2 Toni was in a similar situation as to Bob - she had to send over a deposit payment in August for a second investment property in Sicily. The completion payment was due 8 weeks later. Instead of forward buying in August, like Bob did, Toni decided to wait until nearer the time to see if the rate would improve. As it was, the rate was good in comparison to other times throughout the year. We placed a ‘Smart Rate Watch’ for the client to notify Toni if the rate moved up to 1.49 and also if it dropped to 1.47 on the other side. After a few weeks, when sterling was losing ground against the euro, we contacted Toni to see if she wanted to cut her loses and purchase before the rate got worse. Toni decided to move the ‘Smart Rate Watch’ just above where the market was trading at the time. Subsequently the rate did continue to fall and the transfer become more and more expensive. The client eventually bought the currency at the last possible moment, hoping for an improvement in the rate. 'Playing the market,' ended up costing Toni an additional £3,000 more than she had originally budgeted for and could have achieved. This is where many people go wrong…Toni received a very good rate – in fact, it was 3.4% better than what the bank was offering her, HOWEVER, she could have saved much more by buying at the right time. The moral of the story: The trend is your friend; go against it at your peril! In all seriousness its always best to have a currency ‘strategy’ in place rather than leave things to chance, this could involve a combination of buying forward (securing a rate today for purchase in the future) and/or buying some currency today and making use of the ‘Smart Rate Watch’ system to protect against quick changes. So…if you’ve already signed up as a Smart Client – GOOD JOB! Otherwise, please go to the following page to fill out the Smart Online Application Form at: http://www.smartcurrencyexchange.com/application.htm Or…to get a currency quotation of your choice, please go to: http://www.smartcurrencyexchange.com/smartquotation.htm
Or...GIVE
US A RING any time.. 0808 163 0102. |
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Smart Currency Exchange in the Guardian quoted as having the BEST RATE on the Day...Money Section, page 10 on 20th Oct 07But remember...it's not all about the rate...Call us on 0207 898 0541 for more information. |
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The Smart BlogsGet more information from our Blogs:
The daily currency rates are updated at some point every morning - except on Fridays. Friday is when Charles sends out his weekly rate and comment list via eMail. And the weekly rates and comments are updated every Sunday or Monday depending on how ambitious Charles is! |
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| What do Smart Clients have to Say about the Smart Service?
Please remember to recommend us to your friends - they will be so pleased that you did! If you have any questions or need a currency exchange quote, please give us a ring on our freephone on 0808 163 0102 or fill out our quotation request form at: http://www.smartcurrencyexchange.com/smartquotation.htm
0207 898 0541
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