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Currency ServicesSmart Currency Exchange

An Americans in France partner for foreign exchange.

Currency Converter

What is the difference between a bank and a currency specialist like Smart Currency Exchange?

Banks offer several services, which we’re all aware of – these include cheque and savings accounts, investments, credit cards, insurance, mortgages, travel money, loans and so on.

Broadly speaking, currency companies offer one service – transferring money abroad or returning it to the US. By focusing on one service only, they are able to devote far more attention to you and to provide you with more options and more ways to make the process faster, safer, less expensive and, overall, a whole lot easier than going to a high street bank. We are specifically niched in helping overseas property buyers do this at the best rate possible – and we also help with transferring other payments, such as pensions and mortgages.

Both banks and currency specialists buy money from the money market at a certain rate and then sell it on to the end user (you), making a profit. On average, banks work to a margin of up to 4% more than the margin taken by currency companies.

One of the reasons for this is that the bank decides the daily exchange rate quite early on in the morning. Because the rate fluctuates constantly during the day, they factor in a rate that will not lose them money. We, on the other hand, go to the marketplace as and when you phone in, which means we give you a much fairer rate.

At 4% more, that means if you’re paying us $100,000 for euros or £’s, you would pay a bank $104,000. In other words, you’d pay the bank $4,000 more for a reduced level of service! When comparing rates against the banks, many people have estimated savings in the $10,000 range – an almost unbelievable amount, but I have seen this happen many times.

If you’re interested in more information on us, check out our website, there’s loads of information on how the process works and what is involved. You can apply online or just call us locally. There are no costs or fees associated with the trading facility, nor are you obliged to use our services. I think you will find it a worthwhile exercise.

Here is a recommendation received from a Mr Clarke:
"Excellent service on my first transaction. Very helpful and a simple procedure to follow. The Smart Free report is very useful and allows me to plan the best time to affect my money exchange. The rate was also slightly better than the other money broker I have been using for many years."

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