Expatriate Insurance News: Overseas property owners 'losing out on FX' -
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Expatriate Insurance News: Overseas property owners 'losing out on FX'

Expatriates or people with property in more than one country are losing out financially when it comes to foreign exchange.

This is according to international currency specialists Moneycorp, who claim that people with overseas homes could be wasting a collective £245 million of their holiday money by buying their currency after they leave their home.

Rupert Bedell, from the currency firm, told Overseas Property Professional: "Choosing the wrong place to change your money can be costly.

"Buying €300 at some Italian airport bureaux de change means paying £330 – almost £60 more than many airport bureaux de change, and more than £65 more than buying it from an FX provider on the high street."

Moneycorp's research found that 69 per cent of people cite price and convenience as the most important factors when buying currency.

Choosing a cheap way of exchanging currency could give expatriates more money to spend on essentials, like international medical insurance.

Moving abroad? Get a free quote for your international medical insurance online.

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