Forex Case Studies
Case Study - Moving to Australia
Susan has just moved to Australia after selling her house in the UK for GBP 390,000. She has opened a new bank account in Sydney and is ready to transfer the house sale proceeds to Australia.
Susan calls her UK bank and is offered a GBP/AUD rate of 2.0150 which means she would receive AUD$785,850. The bank also wants to charge a GBP 30 fee (approximately AUD$60).
Susan decides to check with ClearFX about her wire transfer. She simply logs in and requests a rate to exchange her GBP 390,000. ClearFX provides access to the best available rate of 2.0450, with no fees or hidden costs. Susan confirms the transaction online and receives AUD$797,550.
AUD$60 on the fee
AUD$11,760 TOTAL SAVINGS
Case Study - 2 years working overseas
Megan and Carl both secured lucrative 2 year contracts in London and planned to use this period to make major inroads into their mortgage back home in Melbourne. They transfer Carl's income home regularly to their bank in Australia. With exchange rates changing all the time, even small fluctuations make a big difference to how much they can pay off the mortgage each month.
Megan and Carl did not want to fritter their time away monitoring exchange fluctuations - time that could be better spent enjoying their time in London. ClearFX provides the perfect solution. Each month Megan and Carl simply log in to ClearFX and specify the exchange rate they are waiting for. Clear FX monitors their currency order 24 hours a day and immediately completes the money transfer when rates reach Megan and Carl's specified target - even if that happens to be in the middle of the night while they are fast asleep.
AUD$30,000 over the past 12 months
Case Study - Purchasing a holiday home in France
Sharon and five friends from her old university days in Manchester have pooled their funds to buy a holiday home in France. They've found the perfect property, signed the contract and paid the deposit. Now they need to make the final payment of EUR 350,000.
The friends have been quoted by the high street banks, a GBP/EUR exchange of 1.1581 with a GBP 20 fee. That's GBP 302,219.15 plus GBP 20 = GBP 302,239.15
Sharon's friend Claudia decides to double check on ClearFX and is soon glad she did. In just minutes Claudia is quoted the best available rate of 1.1705, with no fees for sending money. Those few minutes mean that the group only has to transfer GBP 299,017.51.
GBP 20.00 in fees
GBP 3,241.64 TOTAL SAVINGS
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