Relocating to Spain can be a tricky business, but luckily ELYS FX is there with you to help you with all sorts of financial messiness.
In an increasingly global world, international money transfers are becoming more and more common: many people have a child studying abroad, plan a trip abroad for holidays or make purchases with foreign companies.
In the hustle and bustle of today’s world, making international transfers should be the least of your worries. That’s why at Spain Life, we recommend that you make a free online account with Elys FX.
As a team of ex-pats living in Spain themselves, the professionals at Elys FX understand all of your concerns and struggles. Language barriers, bank accounts, NIE numbers, the lot.
The team of foreign exchange experts have taken their decade of experience in the financial sector in order to help their clients who are purchasing the property of their dreams, making regular payments, or growing their business.
You can feel reassured that the team at Elys will assist you in sending money overseas, making transfers for property purchases, mortgage payments, pensions, and salaries.
What Can Elys FX Offer?
Spot Contracts
Spot contracts refer to paying at the time of purchase or receiving what has been purchased, a “buy now, pay now” deal to ensure immediate delivery.
Despite advances in technology, many banks (especially in Spain) take as long as up to three to four days to make a payment to another bank, even within Spain.
Elys FX makes an agreement for you to buy currency at an agreed exchange rate. The team recommends a spot contract in the case that you’re looking to buy currency, or make an immediate payment. In addition, you’ll be offered the option of either having a currency trader book a trade for you, or, if you prefer you can use the online system to book the best rate available yourself.
Forward Contract
A forward or forward contract is a firm agreement between two parties, in this case yourself and Elys, whereby a commitment is made to exchange a physical good or financial asset in the future at a price determined on that day.
The buyer of the underlying asset is long and the seller is short. And, like other derivatives, it is often used to hedge risk (especially currency risk) resulting from speculation. This option is quite flexible and lets you take advantage of a favourable rate at the present time for your future trade of up to one year.
You can draw down on it whenever you need tom, and Elys FX will require a 5% deposit to secure the transaction.
Online Payment Platform
Thirdly, Elys FX offers you the freedom of an online wallet, available to you at anytime, anywhere. Virtual wallets offer more security than physical cards. By carrying your card on your mobile phone, it is more difficult to leave it anywhere and lose it or have it stolen, making it fast, safe, and secure.
Nowadays we use our mobile phones for everything, why not use them to pay? More and more of us prefer to have everything on our phone and carry less “junk” with us in our day-to-day lives. One of the most popular applications at the moment are virtual wallets, but do you know what advantages they offer over physical cards?
You can easily log in, buy or sell currency, make payments, and have your transactions all in one place.
The Elys FX platform will check your beneficiaries details, making sure there are no errors in the information. You’ll be able to easily set up payments to make on that day, future payments, review all your previous transactions and payments giving you a full breakdown of all funds coming in and going out.
Swift – The Best Way of Transfering Money Online
Elys FX uses the means of SWIFT transfers are an interbank messaging system for cross-border transfers. This system combines 8 to 11 digits in alphanumeric form, providing a secure system of information exchange and messaging between banks.
SWIFT has played a key role in the standardisation that now underpins international financial messaging and its automation. In order to reduce costs and risks, it is able to optimise your international payments.
Pippa Maile
Phone number: +33 675329999
Email: info@elysrelocation.com
Make your free online account today with ELYS FX.