New currency service can save thousands

A new Regular Payments Plan which saves people money when making regular payments abroad has been launched by Foreign Currency Direct plc, the leading currency transfer provider.

Homeowners in particular are stung with transfer fees of up to �39 and commission charges of up to 2 per cent every time they make mortgage repayments or pay maintenance fees on overseas properties.

With Foreign Currency Directs Regular Payments Plan customers can save up to �12,960 on a 15 year mortgage.

The plan is initially available for transactions to France and Spain, with other countries being rolled out later this year.

Almost 180,000 foreign homes are owned by Britons resulting in millions of pounds being sent abroad on a monthly basis for mortgage repayments, receiving pensions and maintenance fees. Potential savings are considerable with the new service.

Robin Haynes, Director of Foreign Currency Direct plc, said: �We are really excited about our new Regular Payment Plan that will save money for anyone sending money abroad to France or Spain on a regular basis. A lot of money is regularly being sent abroad with the trend of buying property abroad continuing to rise.

�Many customers will benefit from our new plan and can stop paying the unnecessary charges for their regular transactions. We aim to save our customers money by beating the high street banks who offer their customers uncompetitive exchange rates and charge transfer fees on top�.

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