Currency exchange for moving abroad
1st Choice Removals works with Regency FX as its currency exchange partner, so customers moving abroad can arrange their international money transfers alongside their removal. Planning your currency early helps you budget for deposits, rent and bills in your new country.
Our currency exchange partner
Moving abroad usually means sending money overseas. You may be paying a deposit on a property, covering the first months of rent, or moving savings and income to a new bank account.
To help with this, 1st Choice Removals has partnered with Regency FX, a currency exchange provider. If you would like to speak to them, you can contact Regency FX through our partner page. Any transfer you make is arranged directly between you and Regency FX.
When you might need to send money abroad
Most people moving overseas need to transfer money at several points:
- Before you move: a property deposit, a rental deposit or legal fees in your new country.
- Completion: the balance on a property purchase abroad.
- Settling in: the first months of rent, utility connections, a car or furniture.
- Ongoing: regular transfers of a UK pension, rental income or salary.
Listing these payments early, with rough dates, makes it much easier to budget your move.
Why exchange rates matter when you move
Exchange rates change constantly. News about the economy, central bank decisions and political events can all move the value of the pound against other currencies.
On a large payment, such as a house deposit, a small change in the rate can make a noticeable difference to how much you receive. That is why it is worth planning your transfers rather than leaving them to the last minute.
Tips for planning your transfers
- Compare before you commit. Look at both the exchange rate and any fees, from your bank and from specialist providers.
- Know your deadlines. Find out exactly when deposits and completion funds are due, and leave time for the transfer to arrive.
- Open an account at the other end early. A local bank account in your new country makes rent and bills simpler.
- Keep records. Save confirmations of every transfer, as you may need them for property purchases or tax.
- Ask questions. A currency provider can explain the options for timing a large transfer.
Currencies for the places our customers move to
The euro is used in France, Spain, Portugal, the Republic of Ireland and most of our other European destinations. Switzerland uses the Swiss franc and Poland the zloty.
Further afield, customers moving to Australia, the USA, Canada, South Africa or Dubai will need Australian, US or Canadian dollars, South African rand or UAE dirham.
Other money tasks before you go
Currency is only one part of moving your finances abroad. A few weeks before you leave, it helps to:
- Talk to your UK bank about whether you can keep your account once you live overseas.
- Tell HMRC and any pension providers about your move and your new address.
- Cancel or transfer direct debits such as council tax, utilities and subscriptions, and take final meter readings.
- Keep some local currency to hand for your first few days, before your new bank account is up and running.
Our moving abroad checklist covers these and other jobs in more detail.
Plan your move and your money together
Your removal and your money transfers often fall due in the same few weeks. Once we have surveyed your home and given you a written quote, you will know your moving dates, which helps you plan when funds need to arrive.
For the rest of your planning, see our moving abroad checklist and our international removals page. If you live in a BH postcode or DT11, Book your free home visit. Everywhere else, Get an online quote, or call us on 01202 570970 to get started.
Your questions answered
Does 1st Choice Removals offer currency exchange?
1st Choice Removals works with Regency FX as its currency exchange partner. We are a removals company, so we do not exchange money ourselves. Customers moving abroad can contact Regency FX through our partner link to discuss transferring money for property deposits, rent and other costs. Any transfer is arranged directly between you and Regency FX.
When should I transfer money for a move abroad?
Start by listing every payment you will need to make overseas and when each is due, such as a rental deposit, property completion funds and the first months of bills. Leave enough time for each transfer to arrive before its deadline. Because exchange rates move constantly, planning ahead gives you more choice about when to send larger amounts.
Why do exchange rates change?
Exchange rates move with supply and demand for each currency. Economic news, interest rate decisions by central banks, and political events can all push the pound up or down against other currencies. On a large transfer like a house deposit, even a small movement in the rate can change how much arrives in your new country.
What currency will I need if I move to France, Spain or Portugal?
France, Spain and Portugal all use the euro, as does the Republic of Ireland. Northern Ireland is part of the UK and uses sterling. If you are moving to Switzerland you will need Swiss francs, and Poland uses the zloty. For destinations further away, you will need the local currency, such as Australian or Canadian dollars.
Is the currency exchange part of my removal quote?
No. Your removal quote from 1st Choice Removals covers the move itself, such as packing, transport and delivery. Currency exchange is a separate service provided by our partner Regency FX, and you deal with them directly. Keeping them separate means you can plan your transfers around your own deadlines and needs, and change them without affecting your moving date.