Views-from-Park-Guell Spain

Top Four International Money Transfer Destinations

The largest amounts of currencies transferred overseas have been researched by the Currency Index and some of the results have been very surprising, these large amounts of foreign currency are mainly from investors, but also those buying properties overseas.

Number One International Money Transfer Destination - Spain

The most popular money transfer destination, for the 6th year in a row, is Spain. Experts feel that this is due to very favourable exchange rates where expats can get 8% more for their money than they have been able to do previously, which is encouraging even more expat investments in Spain, year on year. In 2011 it was reported that 24.99% of all international transfers were sent to Spain as it continues to be a top holiday and second home destination. Although, due Brexit and the plummeting Pound, the year ahead may see properties being sold in Spain and the proceeds repatriated to the UK, favouring the reverse in the currency’s fortunes.

Number Two International Money Transfer Destination – United Kingdom

The biggest surprise in the research was perhaps that the United Kingdom took second place in the top 4 international money transfer destinations with 18% of all international money transfers. Experts feel this could be down to people returning back from homes overseas or returning their money to UK based accounts due to fears of the Brexit and fear of a euro crisis.

Number Three International Money Transfer Destination – France

With 14.83% of all international money transfers France comes in 3rd place of the 4 most popular international money transfer destinations and again, similarly to Spain, it is thought that this may be down to the area being a popular holiday and holiday home destination. FC Exchange feel that France is actually a more popular destination for holiday homes with a higher level of interest for France than Spain, so this area could soon be more popular for international money transfers.

Number Four International Money Transfer Destination – USA

The USA takes fourth place as most popular money transfer destination with 9.01% of transactions of international money transfers. Experts feel that this could be down to doubt of Brexit and are opting for holiday homes and second homes in America instead of Europe.

If you are looking to transfer money overseas it may be worth speaking to the team here at The Money Cloud as we can help you save up to 85% of the cost you may be charged by your bank through international foreign currency payments and transfers. Click here to start your search now.

Comparison tool

V Piccciani

Everything went great. The money is in the account in Brazil exactly the amount we agreed, very fast and safe, thank you very much for the service

Jane Hemming, Reading, UK

When buying a villa in Spain, The Money Cloud saved us over £5,000 in comparison to the quote from our bank.
International payments - overseas money transfers

INTERNATIONAL MONEY TRANSFERS FOR BUSINESSES

As a business, making global payments involves many risks, including exchange rate risk. If you are making regular transfers the cumulative costs due volatile exchange rates can be excessive. We can empower you to make International Payments cheaper and easier for your business.

France property

MAKING OVERSEAS PAYMENTS FOR BUYING PROPERTY IN FRANCE

When purchasing a property in France, we explain all the steps involved in the purchase. We can demonstrate how to make the most of your money when making the international payments to cover the purchase price and associated costs and how to avoid exchange rate risks.

Market Insights

Sign up for our newsletter.

Thank You for subscribing to our Newsletter

You have successfully signed up to our Newsletter