Many of our customers need to send funds to cover mortgage payments or have their pension income transferred abroad. Our regular payment service provides for a monthly ‘standing order’ facility to convert and transfer sums a low as £500 to accounts in Europe, the US and elsewhere.

The exchange rate you will receive will not be quite as good as you would get for a large transaction, but will still represent excellent value when compared with other methods of sending smaller sums abroad. We achieve this by bulk buying the currency once a month, and drawing all individual payments from the larger amount.

How it works:

• We send you a form that you complete to set up a standing order with your UK bank to send us a fixed sterling amount each month.
• Upon receipt, we convert your funds at the prevailing rate we offer and send the foreign currency straight to your designated account.
• You can change the monthly amount at any time by setting up a replacement standing order or cancel the service with one month's notice.

What it costs:

• There is a £5 monthly bank transfer charge.
• There is no commission, or any other hidden costs.
• We make a small amount on the exchange rate and that’s it.

Other considerations:

• Since this service operates with a fixed monthly sterling amount, the amount of foreign currency you will receive in your designated account will vary each month.
• We would therefore recommend that you set your monthly payments to include a slight surplus and keep a float in your foreign currency account to cover variations in the exchange rate and unforeseen expenses.