Caxton FX helps overseas property owners demolish their fees

Banks and online currency companies overcharge for making simple overseas payments. One provider is bucking the trend by offering free transfers and bank-busting rates.

Overseas property owners spend a bundle for the upkeep of their property. Local taxes, ground rent, service charges and utilities bump up monthly transfers and online payment systems (as well as your high street bank), want a piece of the action.

Not only do banks and some online payment services often charge around £25 pounds or more just to transfer your money, they can also charge commission, normally adding around 1.5% to the already uncompetitive exchange rate given. This means you'll find your hard earned money being whittled away for no good reason. For example, using your high street bank account/online payments service to transfer multiple monthly bill payments could cost you an extra £1062 per year. That's the cost of eight return flights to Valencia or paying the mortgage off earlier on your home abroad.

FastPay allows you to make payments around the world with no fees or commissions and offers bank-beating exchange rates. Use it day or night, 7 days a week; it's an easy and cost effective way to transfer money overseas.

Caxton FX FastPay offers competitive exchange rates and no fees or commission for transfers of £100 to £10,000. FastPay enables currency payments to be made at any time and live rates offer an opportunity to take advantage of currency volatility. FastPay customers are also able to track progress of their payments online, meaning you can see when the beneficiary receives their payment. As 96% of all FastPay customers would recommend the system, you'll be safe in the knowledge that your money is travelling better.

For more information, visit caxtonfx.com.