For the people who don't have large payments to make overseas anymore but still need to make regular transfers for mortgage payments etc. there is an easy solution. A Regular Overseas Payment Scheme (ROPS) can be put in place so bills are paid without having to worry over the transfer of money.
The main aim of a ROPS contract is to save both time and money for our clients. Once a standing order has been set up people can forget about it and relax in the knowledge that they will still be getting a better rate of exchange!
The contracts can be set up on either a 6 or 12 month term and are paid out either monthly, bi-monthly or quarterly on the 6th of each chosen month. The money is due with us by the 5th and the size of transfer can range from £250 to £3,000 depending on what bills have to be paid. There are two options with the contract as you can either fix a rate of exchange at the start or leave it on a variable scheme. The variable means that you achieve the rate as it stands on the 6th of each month. The only fee we do require is an advance of £5 for each transfer you expect to make to go along with the first payment, this just covers the cost to send the money out each month.
I hope this helps answer any questions on the Regular Payments scheme we run, if not get in touch on ++44(0)1296 339811 or drop me an email; dominic@escapecurrency.com
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