HIFX plc announces 'free' service

Features include:

*Fixed exchange rates for up to 24 months.

*Pay monthly via Direct Debit with your UK bank

*No commission (most banks can charge up to 2 per cent)

*Every monthly transfer of funds is free (this alone could save you over £300 a year)

*Total peace of mind - fully automated - never miss a payment.

Once you have bought your overseas home you may still need to make and receive regular currency payments. Whether it’s for a mortgage, pension or salary, HIFX plc can help minimise the uncertainty of fluctuating exchange rates.

International Mortgages

If you pay an overseas mortgage the Sterling cost will vary over time due to exchange rates fluctuation. To help minimise this uncertainty, HIFX has developed a currency service for clients sending regular funds overseas.

Whether you use HIFX to fix a rate for six months or two years you will know exactly how much money is being debited from your UK account. The whole process is fully automated with a direct debit from your UK bank so that you don't even need to think about it until we call you in two years to fix another exchange rate.

Pensions

If you retire to overseas it can often be difficult to instruct your bank to send funds overseas when you are not in the UK and they may require written authority. By using HIFX, clients can fix the exchange rate for up to two years and guarantee themselves a fixed amount of income every month during that period making budgeting easier. You can relax safe in the knowledge that you won’t have to talk to your UK bank and, like the mortgage payments, you only have to re-establish the facility every two years.

Procedure

You simply agree to the exchange rate and we buy the currency. We will then take your UK Bank details to establish a Direct Debit.

We will take the final payment as a deposit and then on the agreed date take the first installment of your payment plan.

The only paper work we require are your onward payment instructions (where you want your funds to be sent) The 11 monthly Sterling payments are collected automatically by Direct Debit. The final installment has already been paid for by your initial deposit.

We will give you a courtesy call to re-establish the plan and agree a new exchange rate for the next 12 months. Simple, stress free and fully automated for your convenience!