East Caribbean Dollar

The East Caribbean Dollar, or XCD, is pegged to the US Dollar, (USD). The East Caribbean dollar is the currency used in the eight states that make up the area known as the Organisation of Eastern Caribbean States.  There are 6 independent states that use the East Caribbean dollar. These are Antigua & Barbuda, Saint Kitts & Nevis, Dominica, Saint Lucia, Grenada and Saint Vincent & the Grenadines.

The other two states are the British overseas territories of Monserrat and Anguilla.  Paradoxically, the British Virgin Islands, which is a member of the Organisation of Eastern Caribbean States, does not use the East Caribbean dollar, preferring instead to use the US dollar as its currency.

The East Caribbean dollar is sub-divided into 100 cents and it is denoted by the symbol $, but often it is referred to as EC$, to differentiate it from the US dollar or other dollar currencies. 

The East Caribbean dollar is issued by the Eastern Caribbean Central Bank and is in the form of 1, 2, 5, 10, 25 cents and $1 as coins and in $5, 10, 20, 50 and 100 dollars, as notes.

The currency is pegged with the US dollar. 

How to Buy East Caribbean Dollars

If you are on one of the Islands already, some advice on the ease of buying XCD, or USD from ATM’s follows advice on how to convert large amounts of money at the best price today.

If you wish to buy money for a visit to the Islands, you may wish to buy your money online here.

If you are looking to change your XCD for British Pounds Sterling or Canadian Dollars and have an amount greater than 15,000 XCD, then you may like to take advantage of currency conversion at commercial rates better than the banks and without commission or a transfer charge, here. Just sign up for a free currency conversion account and we will convert your East Caribbean Dollars at the best price today.

Anguilla:
Anguilla, despite its size has a few ATM machines, so it is relatively easy to get hold of East Caribbean dollars, but the US dollar is in widespread use here and menus and prices are often quoted in US dollars, so it is easy to get by just using dollars.

Antigua and Barbuda:
Despite the fact that these are two small and relatively isolated islands, credit cards are accepted throughout both the islands and there are also plenty of banks and most of these offer ATM facilities.  In addition, it is possible to use US dollars.

Dominica:
Dominica also has ease of access to currency through ATM machines, although the use of the dollar is also widespread, you may find that in some of the smaller shops, they will only accept local currency.

Monserrat:
Monserrat has only one ATM machine which is located at the Canadian Bank (Royal Bank of Canada).  However, credit and debit cards are also accepted here, as well as US dollars.

Saint Kitts and Nevis:
ATM machines are widely available and it is quite easy to get hold of the EC dollars, or else you can just use your US dollars which are quite readily accepted. 

Saint Lucia and Grenada,:
Saint Lucia and Grenada also have an extensive network of ATM machines and it is possible to use US dollars here as well.

St Vincent and the Grenadines:
St Vincent is slightly more complicated than the other islands, because although there are ATM facilities on St Vincent, they are pretty scare on
Grenadine islands, so if you plan to visit the smaller islands that make up the Grenadines, then you will want to have at least some cash with you.  But that being said, it will also be possible to use your credit cards quite extensively.  To some extent these islands are the playground of the rich and privileged, so cards are readily accepted as well as US dollars.  But for tips and smaller purchases, it is handy to have some cash.

Tags: best rates, cad, canadian dollars, east caribbean dollars, gbp, pounds sterling, xcd

One property market that doesn’t seem to have run out of steam is Dubai and Abu Dhabi. Dubai has opened it’s arms to property investors and now, it appears that Abu Dhabi is quietly doing the same.

Buildings are being constructed at an alarming rate, ever skyward, along with the prices. Tales are told of some properties being sold on 12 times before the property has even been handed over by the builder! With a property market like this, it’s easy to fall prey to the silver-tongued salesman with promises of vast profits in weeks.

The truth is, it really is happening. I spoke to one of my colleagues the other day who is noted for her conservative approach to parting with her own hard-earned money, and she has even bought a property on the hope of selling it before completion.

However, she does have an advantage. She can buy her Dirhams, or AED as we know it, just when the rate against the pound and the Euro suits her. She waits until the rate peaks between the pound and the Dirham, then buys as many Dirhams as she can. Over time, she has made the difference of 5%. In real terms, this means her property will be 5% cheaper than it may have been if she traded at the lower exchange rate.

If you are considering buying abroad, it is advisable to have a chat with a professional currency broker to see which methods of buying foreign currency will suit you best. The advice will cost nothing, but may save you thousands as it has for my colleague.

Get the best currency exchange rate available today… Just call our Head Office on +44 (0) 1480 458 400 if outside the UK, or 01480 458400 ( in the Uk) and we’ll quote you the best exchange rate for Euro, usd, gbp, aed and more. Alternatively, fill in the short form below, and we will get back to you with the best foreign currency exchange rates.

Tags: abu dhabi, aed, dhm, dirham, dubai, euro, pound, property

Emigrating to Australia on your own steam
The first step in emigrating, is to find out if you are eligible to live in Australia. You can do this by contacting your nearest Australia High commission who will be able to assist. They will send you the relevant information regarding your application process.
You should allow a minimum of 12 months for a successful application to be processed. It is absolutely crucial that any paperwork submitted to Australia House is done so correctly or your application will be returned to you, and you will, unfortunately, have to re apply. Fees will also vary dramatically depending upon the visa category you are applying under. With police checks, medical records, government fees, and more, the cost of the application can sometimes be a considerable expense.
Use an emigration specialist consultancy
A migration agent is like using a lawyer to represent you in court. They will initially give you a free consultation and will let you know straight away if you are eligible for migration. If you are, they will begin to advise on the fees and time limits involved. They will then advise you of all relevant forms, references and documents that you will need to obtain for them to submit the application on your behalf.
If you choose to use an agent your migration process can be a lot quicker. In some cases, they may even save you money as you can be certain that your application will be submitted correctly the first time. It certainly will take a lot of unnecessary stress away from the migration process. For that reason alone, we would strongly recommend to anyone who is considering emigrating, to use a Migration Agent.
Buying your Australian Dollars.
Whether you are buying your Australian Dollars with British Pounds, American Dollars, Euros or any other foreign currency, it pays to shop around.
The standard route, involved beating a path loyally to your local bank and asking them to make the money transfer on your behalf to Australia. This generally involves a few costs that you won’t have to bear elsewhere. You are likely to be charged extra for making the currency transfer, and for your Australian bank to receive the funds. In addition, a high street bank doesn’t necessarily give the best foreign exchange rate which is the biggest difference between the bank and a foreign currency exchange specialist.
Consider this:
Your bank offers you a rate of 2.10 Australian Dollars to £1. You buy £150,000 worth at that rate, believing that it’s the same everywhere and you end up with 315,000 Australian Dollars, before they have taken their commission!
OR, you use a global currency exchange specialist and they give you a better rate of 2.1549 Australian Dollars (as it is today) to £1, giving you net proceeds of 323,235 Australian Dollars for your £150,000.
Net result, you have saved yourself £3,821 ( or 8235 dollars) to spend on something else when you get to Australia like a second hand car, tax and insurance! No effort was required. It didn’t take any longer. You just end up with more money.
Save money when emigrating, buy your Australian Dollars here, or just visit the site to view the latest rate.

Tags: Australia, Australian Dollar, Emigrating, emigration, gb pound

Buying Property in Thai Baht.

Buying Thai Baht at the best currency exchange rate is a relatively simple exercise. Call your broker!

However, buying Thai Baht at the best exchange rate in order to buy property in Thailand, as a foreigner. That’s not such a simple task. Choose a broker who understands the Thai property system as there is a specific Act, the 1991 Condominium Act, which applies to non-residents who aim to buy a condominium in Thailand.

If a non-resident person wishes to transfer money into Thailand to buy a property there, they must obtain a Foreign exchange Transaction Certificate for each payment. This certificate comes from the beneficiary bank and every certificate will need to be shown to the Land Department in order to register the title of the condominium. As an aside, the currency exchange transfer instruction needs to state that it is for the purpose of buying condominium.

There’s a catch though. If you transfer money into Thailand for this purpose, you need to ensure that each currency exchange is for US$20,000 as a minimum, otherwise you would need to obtain a credit note from the bank instead.
Transferring money to Thailand:
1. The money must be T/T (Telex-Transferred), with a document identifying the name of the purchaser in the form of either the sender’s or receiver’s name. For example:

Mr. Jones wants to buy a condominium in Thailand. He has his own account at an overseas bank to buy the condominium, he has to instruct the overseas bank to issue the document in his name as the sender of that amount to his (savings) account in Thailand, or any law firm (with the permission from the particular firm) after which the appointed company will buy that condominium for him,

(or)

It is possible for the buyer to ask a third party to transfer the money for him to buy the property by identifying himself as the receiver. This could be done by using a currency exchange Company such as fx-foreignexchange, who would offer the best rates at that moment for buying Thai Baht and would then organise the money transfer to Thailand.

2. The purchaser has to include the transfer instruction indicating that the purpose of this money is to buy a condominium unit.

The bank that receives money in foreign currency will issue the document (Foreign Exchange Transaction) which contains the following information:
- The transferred amount in foreign currency
- The transferred amount in Thai Baht
- The name of money sender

In order to get the best currency exchange rate in Thai Baht, whether selling Australian Dollars, US Dollars, GB Pounds, AE Dirhams or Euros, contact the experts, Fx-Foreignexchange.com and they will quote the best rate for the Baht today.
+44 (0)1480 458 400

Tags: best exchange rates, condominium purchase, Thai Baht rates

Looking to buy, or sell AED’s?

• Get the best exchange rates through us.
• We have an office in Dubai for UAE dirham currency conversion.
• Save money through us. Currency transfers are usually made for free. We offer better exchange rates and we will be pleased to quote to handle your regular money transfers in AED, euro, dollars, pounds and more.
• Secure money transfers made using our treasury provider, HSBC.

Contact us by phone   +44 1480 458400,   or please fill in the short form and we will come back to you with a great currency exchange rate.

Remember to let us know whether you wish to buy or sell dirhams:

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Tags: aed, best rates, Currency, dirhams, dubai, gcen, global currency

The UAE dirham and international money transfers

About the AED:
AED, or dhs / dirhams, is fixed to the US Dollar. As a result, the recent decline in the value of the US Dollar against the Euro and the GB Pound has had an obvious effect on the AED rate when trading currency in Europe.The UAE dirham (AED) is divided into 100 fils. Coins are in 5, 10, 25 and 50 fils and AED 1. Notes are in denominations of AED 5, 10, 20, 50, 100, 200, 500 and 1,000. $1 = 3.6722AED and currently £1 = 7.2504AED.

Currency exchange between Dubai and London:
With the opening of the Gatehouse Bank Plc in Central London, a fully compliant shariah bank, there is likely to be an influx of interest in exchanging AED´s for Pounds.
There are no restrictions on the import and export of money into, and out of, Dubai.

Everyone holding a residence visa in Dubai is allowed to open a bank account and to import and export funds, although it’s unusual for people to bring funds into the country with the current excepion of foreign funds being used to buy property in Dubai. Accounts held overseas are of no interest to the fiscal administrations in any of the states. No declarations of currency are required when entering any of the territories, so travellers can move currencies in and out without restriction and in any form that they choose.

International bank transfers are something the Dubai currency exchange brokers handle comfortably. The money transfers out of Dubai have long been a lucrative business, particularly since the property boom began in recent years. The large number of expats who have moved to Dubai regularly exchange their money, and make transfers abroad to their home country.

How to transfer aed and get the best exchange rates:
All the retail banks will transfer money to any destination and in any currency. Many people find it convenient to use their own bank to transfer money overseas, but there are plenty of currency dealers offering this service, so shop around to obtain the best currency deal. The main factors involved in transferring funds overseas are the exchange rate offered and any commission charges plus the money transfer charge. The rate quoted by a high street bank may look attractive, but if the combined charges are high, you might be better off with a company like fx-foreignexchange. In addition, many overseas receiving banks will make a recipient charge. Using fx-foreignexchange, there will not be any receiving charges in most cases.

Different transfer systems are available, and the speed of transfer is the main determinant of the charge levied. The methods are postal, bank-to-bank, telex, telegraphic and SWIFT (or similar titles). For an explanation of currency terms, visit this page.

If you intend to send significant amounts of money abroad for business transactions, such as buying a property, or making a payroll payment on a monthly basis, ensure that you’re given the commercial rate of exchange. The tourist rate or standard rate that you see quoted in your newspaper or posted on the bank’s currency exchange board can be considerably bettered for large exchanges and transfers.

Fx-foreignexchange have a currency trading office in Dubai.

Get a quote for the best aed, eor, gbp currency exchange rate today, just call +44 (0) 1480 458 400
or simpy fill in the form:

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Tags: aed, currency exchange, dubai, gcen

Get the best currency exchange rate available today…

Just call our Head Office on

+44 (0) 1480 458 400 if outside the UK,

or 01480 458400 ( in the Uk) and we’ll quote you the best exchange rate for Euro, usd, gbp, aed and more.

Alternatively, fill in the short form below, and we will get back to you with the best foreign currency exchange rate.

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See today’s currency exchange rates for aed, usd, gbp, pounds here.

Tags: aed, best exchange rates, eur, euro, gbp, usd

Emigtaing is a huge decision. Once the decision to emigrate has been made, most of the decisions are a little easier… there just happens to be more decisions than most people expect.One decision most people forget about, until the last moment, is how to transfer all of their money from one country to their new home country. It’s understandable. We are all busy with selling the car, finding a school, selling the house and packing. It’s not until a large amount of money needs to be transferred, that most people start to wonder just how much their bank is making by charging a commission, charging for the transfer and the slightly more expensive exchange rate. By this moment, most people have already made a few currency exchanges and sent small money transfers for the new car, or the rental house deposit and some living expenses.

Global Currency Exchange Network is a currency exchange specialist. It’s all we do! There’s no transfer charge in most cases. There’s no commission at all! All we do is exchange currency to the tune of over £335,000,000 last year. It’s all done at the best currency exchange rates available at that moment which is why people who emigrate come to us to save money.

If you are starting the process of emigrating, just let us know well in advance and we will be able to carefully tailor the transfer of your money using a range of options including spot deals, forward contracts, limit orders, just to name a few. For more information on these terms, go here.

If you have already moved, and are making regular overseas pension transfers, or just sending a small sum on a regular basis, it’s likely that the bank is taking a large percentage of the amount transferred. If you allow us to make the currency exchange and the transfer, we could make a considerable difference to the amount you receive each month.

For a free quote, just call us and we will explain how you can get the best exchange rate. We can be reached on 0044 (0)7802 520370, or email us here.

Tags: best exchange rates, currency conversion, emigrate, emigration

Is now a good time to buy foreign exchange?

For month’s now, the foreign exchange market has been a little nervous. With the right, professional, advice from a currency exchange expert, you can weather the storm.

As the whole Global foreign currency market is interlinked, an economic downturn in the United States can, and does, have an effect on the currency exchange rates between the US and wherever it does trade. As this is virtually every Country, the current economic downturn in the States has had detrimental effects on the Global economy. Equally, if the major lending bank in Europe hints that it will lower interest rates, as it just has hinted, then the Euro could weaken against the Pound.

While Global Currency Exchange Network don’t have a crystal ball, they can help to guide you through the maze and help to reduce the potential losses you make otherwise.

Is now a good time to buy?

Well, it depends on when you want the money available in another currency, and how much you can spare at the moment that the best foreign exchange rates are available.

Global Currency Exchange Network have a team of experienced currency dealers on hand to guide you through the process. In order to do this professionally, they will need some information. Particularly, the date when you need the foreign currency as they may be able to advise holding off buying the currency today. Sometimes, it’s better to buy currency at today’s price, but keep that price for a date at some time in the future.

This is particularly useful if you’re buying a property overseas and it won’t be built for another year, when you will have to make a large final payment. If you waited until the completion day to change your money, the foreign exchange rates may have gone against you, and in effect, the price will have risen by as much as
£10,000 when you make a comparison to the exchange rates from the previous year.
This system is just as useful to businesses. When a company decides to buy goods from abroad, they agree to pay in the currency that is local to the supplier. The rates on that day may give the business a potential gross profit on those goods of a fixed amount. If the exchange rates change in a negative way, between the date of ordering and when the business has to pay for them, the potential gross profit could be wiped out.

Most businesses hedge their bets by ordering the goods and fixing the exchange rate by asking Global Currency Exchange Network to ‘forward buy’ the foreign exchange for them at a fixed price. That way, they have peace of mind and relax, safe in the knowledge that the one thing that can’t change now is the exchange rate.

Global Currency Exchange Network are a commercial currency brokerage, based in the UK. We care for other people’s money and save clients vast amounts of money daily by offering competitive exchange rates, with no commission attached. In some cases, transfers abroad are free.
For a fast, safe, service go to our site and first open a free account. We will then contact you to discuss how we can help. Alternatively, call +44 (0) 1480 406080.

More articles on Foreign currency terms explained,   currency exchange for businesses

Tags: Business Finance, foreign exchange rates

What you need to have to make a foreign money transfer. Banks, and specialist foreign currency providers, need to have suitable details in order to make a safe money transfer from one Country to another.There are really just two main sets of numbers commonly required. These are the IBAN and the SWIFT numbers.

The IBAN,or International Bank Account Numbers, have been introduced to standardise the identification of bank accounts. The IBAN is not a new account number. Your existing bank code and account numbers will not be replaced, but additional characters will appear in front of them. IBANs improve the quality of information exchanged between parties involved in European cross border payments and reduce errors and delays.

An issuing bank provides IBANs to its customers who are likely to receive payments from abroad, or make money transfers outbound. The IBANs are derived from the existing domestic account numbers of the customer.

The SWIFT, Society for World-wide Interbank Financial Telecommunications, system is a computer-based message switching system used by most international Banks as a method of making overseas payments or transfers. The minimum information that is required to make a SWIFT transfer is the account number, the name and address of the receiving Bank and the name of the beneficiary. In addition, all Bank’s have a SWIFT code and if this is known for the recipient Bank, this should be quoted.

Making a money transfer abroad for the first time can seem daunting. Providing you provide your bank, or specialist currency exchange broker, with the correct recipient IBAN or SWIFT, then things should go smoothly. To save money and have a smooth money transfer, you may like to consider talking to Global Currency Exchange Network.

Global Currency Exchange Network are specialists in currency exchange. They don’t charge commissions, they have a special arrangement with banks in Spain to avoid expensive receiving charges and offer they best exchange rates. With an annual turnover in excess of £335 Million, they have the power to set the exchange rates very low.
More articles on money transfers, emigrating, glossary of terms, regular monthly payments

Tags: Currency terms explained, iban, swift

Currency Exchange - Foreign Money Transfers.

If you are buying property overseas, you will need to buy, and transfer, money. While currency is generally regarded as an afterthought, the fact remains you will need to consider how convert your existing currency to the one in the Country of your destination at the best rate available or you may lose out by thousands.

Almost a million Britons have chosen to emigrate to Spain alone. Most have chosen to emigrate for a better quality of life and to avoid the high taxes imposed on Britons who reside in the UK. However, quietly, there seems to be a reversal in the process at the same time. Expats, who have lived a broad for a few years, miss the family, prefer the healthcare at home, or just need a job more suited to their talents, all move back to the UK. Imagine this constant flow both leaving, and arriving, at the same time. All of these people have to convert their currency to and from the British Pound.

Changing your currency seems, to most people, an afterthought. It appears that most people just accept that the bank will take a commission. Because the currency exchange is done by quoting exchange rates, most people have no idea how much the bank has taken in profit. In some cases, the bank’s profit can run into thousands! Using a foreign exchange broker is often considerably cheaper.

When moving money, you will to need to open a foreign bank account to receive your funds. As a non resident, it is crucial to consider a banking facility, or banking provider, that will allow you easy access to your savings and investments. A number of UK high street banks have networks abroad like Barclays, Halifax and HSBC. This could be useful if you are planning on still keeping funds in the UK. This won’t leave you high and dry if you need funds transferred in a hurry.

An alternative option is to open an account with one of the growing number of online-only banks. With fewer overheads, these online providers can afford to be more competitive often offering higher returns on investments. As an online facility you can access your money or check your statements via the internet, from anywhere in the world.

If you want to transfer the money to the country of your chosen residence, you can simply ask the bank or currency broker you have chosen to do it on your behalf. A specialist foreign exchange dealer will inevitably charge less, as well as providing better rates on your money. If your savings are substantial, taking this route can reduce costs significantly.

Buying a property abroad, opening bank accounts, transferring savings and investments, as well as arranging your regular pension transfers and understanding your tax position is a complex procedure which is exactly why more people are turning to independent financial advisors for help and support. Before you consider emigrating, it will be worth having a consultation with your independant financial advisor, then talk to a currency exchange expert for the best foreign exchange quote.

Most receiving banks make an administration charge for receiving transfers. These charges will vary from bank to bank and country to country and are often negotiable depending on the arrangement the recipient has with the bank. It is important to check with your new banking provider especially if you anticipate moving large quantities of money for a property purchase or regular smaller payments for bills or mortgage repayments.

Foreign Currency Exchange brokers often operate using facilities provided by their principal banking providers whereby they can now send Euros to Spain without any charges or deductions being made by the receiving bank. It is commonly known that Spanish banks can charge up to 0.5% of the transaction value to receive Euros from a non resident account. This service could save around £500 on a standard sum of £100,000 in addition to the savings made by achieving commercial rates of exchange on any currency bought or sold.

Using a foreign currency exchange specialist can comfortably save the you many hundreds (possibly thousands) of euros when you get a comparative quote with your bank.
Global Currency Exchange Network are specialists in currency exchange. They don’t charge commissions, they have a special arrangement with banks in Spain to avoid expensive receiving charges and offer they best exchange rates. With an annual turnover in excess of £335 Million, they have the power to set the exchange rates very low.

More articles on money transfers, emigrating

Tags: currency conversion, Emigrating, money transfer