The currency blog

In a measure to designed stimulate growth in the Island’s property sector by reducing the cost of home ownership, Cypriot MPs unanimously agreed to abolish or reduce Property Transfer Fees at a meeting of the House of Representatives earlier today.

 For those who do not pay VAT when they buy their house, property transfer fees are to be reduced by 50%. For those who pay VAT on their house purchase, no transfer fees will be payable.

The House also approved an amendment to the bill enabling those who submit applications under the provisions of the Town Planning Amnesty to enjoy the same benefit. The draft law will be effective for six months, until the Island’s Government submits a full proposal to the House.

This will be a welcome boost for the beleaguered Cypriot property market.

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Le Tour De Finance

After four very successful forums in March;  Le Tour de Finance is heading down to the south coast of France this May starting in Provence, moving along to the Cotes d’Azur, heading upwards into the Stunning Alps and then finally finishing in the amazing areas of Normandy and Brittany.

We have been well supported by our media partners The Connexion and Anglo info who have been keeping the public well informed about the benefits of Le Tour De Finance. Expats have found the evenings informative and enjoyable, with free food and aperitifs on offer.  At each event attendees have the opportunity to win a week’s holiday. 

In order to maximise the opportunity presented by Le Tour De Finance please send a link to the website to anyone you know who may be in France over the next two weeks and could benefit from an opportunity to talk to experts on a wide range of financial topics. www.letourdefinance.com.  The events are completely free and there’s no obligation. 

Remember you earn commission when you refer any clients who trade with us!

TOUR SCHEDULE

17 May 2011 Provence                    Trets 13530

19 May 2011 French Riviera         Mougins 06250

24 May 2011 French Riviera         Nice 06000

26 May 2011 Alps                              Chen sur Léman 74140

31 May 2011 Normandy                 Ernes 14270

01 Jun 2011   Northern Brittany Loudeac 22600

Case Study: America Calling

The Facts:

Client wanted to purchase a property in the USA for $1,743,000. Our affiliate Largemortgageloans.com referred the client to Currencies Direct.

Property Purchase $1,743,000 @ 1.6302* = £1,069.194 *April 2011

Client Saving compared to rate quoted by the bank: £5600

Revenue generated through affiliate commission: ≥ £1000

Currencies Direct Process

• Clients details received from Largemortgageloans.com
• Client contacted by a member of the private sales team, registration process explained and rate quoted
• Clients submitted completed registration form and details placed on CD system
• Client dedicated currency dealer contacted client and quoted the rate of 1.6302
• Deal booked and confirmed
• Client received booking form and settled amount of £1,069.194 by bank transfer to CD
• USD$1,743,000 released to the beneficiary details given on the booking form from the client
• Transfer complete

 Savings over the bank

                          Currencies Direct                                                                     Bank

         $1,743,000 @ 1.6302* = £1,069,194                          $1,743.000 @ 1.6217 = £1,074,798

 Client saving £5,604 (0.5%)

The above saving can be much higher depending on the bank the client is using and the volume they are transferring. The smaller monthly mortgage payments savings tend to be between 2.5 - 3%!

Online International Payments

Currencies Direct have introduced iPayFX for individuals - an online cross border payments system which makes online international payments as simple as domestic ones.

iPayFX gives you 24/7/365 online access to cross border transfers so you can make faster international payments when it suits you. Any clients you refer to Currencies Direct have access to this FREE system to send funds abroad as soon as they register with us.

We’ve created a system that is really quick and easy. You can check the rate, select a beneficiary and make a payment in a matter of seconds. iPayFX is straightforward to use and totally secure.

Once clients have signed up for iPayFX they can go online to set-up payments whenever they like and wherever they are. They still have access to their personal dealer so if they prefer to talk to someone this service is always available.

Visit www.ipayfx.com for more information or click here to see a brochure about iPayFX for Individuals.

After many years of managing our business in Portugal from our Iberian hub in Spain we felt the need to provide a fully operational office to service the needs of our clients and affiliates. As well as providing a base for our partners to drop in with any queries we now have a point of focus for our customers - where they can come to understand the benefits of our services. Read the rest of this entry »

If you’ve visited our website www.currenciesdirect.com recently you’ll notice it’s had a radical facelift. We’ve worked closely with an expert website design company to enhance the navigation and features on the site, based on customer feedback.

At present you will notice there is not an Affiliate section in the main navigation - that’s because we’re busy building a site especially for you! All the features for affiliates are still available just click ‘affiliates and partners’ located at the bottom of the website or follow this link: https://www.currenciesdirect.com/affiliates-and-partners/overview/

Read the rest of this entry »