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4 Steps to Consider Before Transferring your Money into Euros. 

1. CHOOSE A REGULATED BROKER

When working with a currency broker you must make sure that they have the appropriate authorisations and regulations in place. This way you know that these companies are acting in accordance with the principles and framework set out by the regulating bodies.

 

2. OPEN AN ACCOUNT WITH A CURRENCY BROKER

You will need to register, usually on line and send in two forms of identification for compliance checks. In the normal course of business, new accounts are processed quickly and can often be opened on the same day as the registration.

 

3. HAVE A PERSONAL ACCOUNT MANAGER

With a currency broker you will have a relationship manager available on the telephone, whatsapp or email to answer every question. They will also discuss with you the most suitable strategy to match your requirements.

 

4. THE PROCESS

Once you are ready to buy or sell a currency, the following steps will take place:

  • You will agree a rate of exchange over the telephone with your relationship manager (as all lines are recorded)
  • You will then receive a contract note confirming the deal that has been booked
  • You will send your GBP to the bank account on the contract note
  • Your GBP once received will be converted into Euros and then the Euros will be sent to your lawyer in Portugal

 

Central FX

E. Robert.Joseph@centralfx.co.uk

M. +44 (0) 7956 396 250

 

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