Sending money down under

Every year thousands of Australians and New Zealanders make the well traveled journey to the UK in search of new experiences, broadening their horizons and making money.

FC Exchange has experienced an increase of clients from the Southern hemisphere saving up significant amounts of UK pounds, exchanging them and wiring the money to their respective bank accounts. Figures from the UK Trade and Investment Offices highlight the increasing trend for Australians and New Zealanders coming to live and work in Britain. The organisation reports that approximately 800,000 Australians visited the UK in 2005, a dramatic increase on the 12,000 that came in 1960.

Nick Fullerton, Director of FC Exchange comments: “The GBP has always been strong in comparison to the Australian or New Zealand dollar, but in the last 10 years the GBP has gone from strength to strength, intensifying the trend for Australians and New Zealanders coming here to make money. The amounts that are transferred home by these guys can be a substantial sum, averaging £20,000 per year.”

Nick continues: “We have a range of clients around the world who take advantage of our services, which in turn saves them money, but people from the southern hemisphere are the ones who use us the most to send money home. Probably as much as 75% of the Australians and New Zealanders living in the UK send money home on a regular basis.”

The UK Trade and Investment Offices show that more than 1.5 million Australians hold a British passport, more than 750,000 Australian tourists enjoy visa-free entry to the UK each year and there is a growth in the number of younger Australians applying for a working holiday in Britain. Last year more than 23,500 young Australians applied for a two year UK visa, a substantial number of those will use their UK job to acquire wealth.

The individuals who use FC Exchange instead of a high street bank to wire their money back home can save hundreds even thousands of pounds. FC Exchange is a specialist currency provider which uses the knowledge of its specialist brokers to get clients the best deal.

FC Exchange offers a free service for transactions over £10,000 and a flat transfer fee of £10 on anything smaller. FC Exchange is a specialist currency provider based in the UK that offers individuals more competitive currency exchange rates than high street banks and other financial institutions.