Currency

Transferring currency overseas?

At Betterhomes, we’ve helped thousands of overseas buyers find their dream property within the UAE. Let’s face it; it’s not a typical everyday purchase, so we help our clients understand the importance of managing their currency risk when transferring funds into or out of the UAE. A small movement in the exchange rate can suddenly mean the budget you set aside is no longer sufficient.

You’ll be pleased to hear that there are solutions to minimise your currency risk and that’s why we’ve worked with our friends at GC Partners, the currency specialists for over 10 years.

Since 2003, GC Partners have helped over 100,000 clients to transfer money to over 125 countries and in the last year alone transacted almost $7bn USD in foreign currency. With one of the highest ratings on Trustpilot (4.9 out of 5), GC Partners have an experienced and friendly team in Dubai Marina that can help you save money when it comes to your foreign currency exchange requirements. Not only do they outperform the high street banks, but they also guide you through the money transfer process.

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GC Partners vs the bank

Example	Exchange rate	Transfer fee
Major UAE Bank AED 200,000 from your bank could get you…	AED 200,000 @ 4.8090 = £41,588.69	= AED 70 - 150 + £25 receiving fee
GC Partners AED 200,000 from GC Partners could get you…	AED 200,000 @ 4.5799 = £43,669.08	= AED 70 - 150 + £25 receiving fee

A saving of AED10,167.86 & no fee

*comparison made in April 2020.

Meet our expert

Hayley McCarthy

Senior Account Manager

GC Partners

Hayley is an experienced specialist in foreign exchange with over 7 years of experience helping clients in the UAE. Hayley has a thorough understanding of the buying process and understands the needs of her clients.

As a specialist, she understands the markets, exchange rates and volatility. Hayley will work with you to help you understand when to move your money and provide a variety of options designed to suit your needs.

What our clients say
about GC Partners

Excellent customer service. Highly recommend.

Syed Ahmed

I have used GC Partners for many years - always friendly, reliable, and efficient.

Thomas Williams

Excellent service and staff always so helpful.

Dorene Barrett

Your Questions Answered

1. Why would I use a foreign exchange specialist like GC Partners?

GC Partners offer more competitive rates of exchange than the high-street banks when making international payments. Unlike banks, there are no hidden fees or charges plus they offer various currency services designed to deliver cost savings & manage risk against currency fluctuations. They also provide a dedicated account manager for each client who will assist you every step of the way.

2. How much could I save using GC Partners?

Cost savings can vary. We recommend you compare your banks rate with GC Partners to see what they can save you. Savings will include bank charges, receiving fees, and commissions whilst getting you a fantastic exchange rate at the same time. Why let the bank charge you when you can keep that money in your own pocket!

3. How can I protect myself against currency fluctuations?

GC Partners offer various transfer options to mitigate your currency risk, and useful services such as rate alerts, so you never miss your ideal exchange rate again.

Exchange rates move every second. GC Partners offer live exchange rates which can be booked immediately via their online platform or by simply calling your dedicated account manager. Once you have booked the rate, it is secured and will not change, regardless of any further market fluctuations.

4. Can I use GC Partners for my monthly mortgage, rent or schooling payments?

Yes, you can purchase amounts from £200 to £10,000 (or equivalent currency) through their website or contact them by telephone for any larger amounts. GC Partners offer a bespoke recurring payments service making your monthly payments easier and more cost-effective than your banks.

5. How do I buy or sell currency?

Once registered with GC Partners, you can exchange currency online up to a limit of £10,000 GBP (or equivalent currency) or over the phone with your account manager.

6. What currency buying options are there for a property purchase?

There are a variety of options available to suit all clients.

“Spot Deals” are ideal if you need to send money straight away.

“Forward Deals” is a Buy now, pay later option. Secure your exchange rate with a small deposit and the currency is then held for you until you pay the balance at an agreed date in the future. Ideal for delayed completions or stage payments when buying off plan

“Limit Orders” allow you to set a rate that you would (realistically) like to achieve, and if the rate hits that limit, GC Partners will automatically purchase the currency for you.

7. Are there any fees or charges?

GC Partners do not charge any fees or charges.

8. How do I know transferring money with GC Partners is safe?

GC Partners is a UK registered company operating in the UAE for the past 15 years. GC Partners is authorised by the Financial Conduct Authority (“FCA”) and registered as a Money Services Business, regulated by HM Revenue & Customs (“HMRC”).

They follow strict guidelines to ensure your money is protected. Funds are held in segregated client accounts which means client money is not an asset of their business. They are 100% safe and secure every step of the way.

Currency