Repatriation of Funds from Abroad

Whether you are an expat who returned home, an overseas property seller, or a business that is getting paid in foreign currency, repatiration of funds from abroad can be done without a a great deal of effort. The process is easy to do – and all it requires is one phone call with either of these companies specializing in sending and receiving money from abroad at preferable rates.

Best Service for Repatiration of Funds from Abroad

  • Repatriate Funds to UK, Australia, EU, NZ, Singapore, Hong Kong
  • Dedicated Dealers Assisting with Process
  • UK Customer Experience Award
  • Most Currencies Handled
  • Client Reviews96% Satisfaction on Feefo
  • Repatriate Funds to UK, USA, South Africa, Australia, EU, Norway, Sweden, NZ, UAE, China,
  • Dedicated Dealers Assisting with Process
  • Since 1996
  • Best Online Platform
  • Client Reviews 9 / 10 Ranking TrustPilot
  • Repatriate Funds to UK, EU, Australia, Canada, South Africa
  • Dedicated Dealers Assisting with Process
  • Industry Veteran
  • Personalised, Friendly, Service
  • Client Reviews9.7 / 10 - TrustPilot

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Advantages of using these firms to repatriate funds from abroad

The way these companies operate is as a mediator between private clients and banks. By trading large quantities of currencies every year, they are able to buy and sell foreign currency while paying very low spreads. This advantage is being rolled over to its clientele, which enables private individuals to save a great deal  on fees, which can become thousands of Pounds, Euros, or Dollars in savings. This is especially true if the clients are transferring large amounts, which is usually the case with repatriation of funds from abroad.

The second major advantage which is especially relevant when repatriating funds, is guidance from a specialist currency dealer. That guidance is a two-fold guidance in the case of repatriation:

1. The process itself raises a lot of questions. How to send the funds, tax implications, and limitations in regards to the amounts that can be transferred into the country is a major issue. Even though the currency dealer is not a licensed tax advisor, he can provide general advice on the topics, and refer you to the right sources.

 2. Currency movements play a huge role on high-volume transfers. Even if you are potentially saving on fees, you could end losing on currency movements. Currency dealers working in these companies can direct you on the right timing to go ahead with the transfer, as well as provide tools such as Forward Contracts to mitigate future risks and lock current exchange rates. They can also advise on how the money should be transferred (whether in batches or as a one-time-off) to maximize saving.


How does the repatiraiton of funds process work?

As mentioned earlier, foreign exchange firms are just a mediator between banks and consumers. That means that in order to get paid from abroad, or receive funds from your own bank account abroad, the payment should at some point be moved to their ring-fenced client accounts, exchanged to domestic currency, and then moved over to your account.

By doing so you are also avoiding recipient fees; your currency firm will guide you so you will maximise your saving in every aspect from the top of the chain to the bottom of it.

Here’s how you can receive money from Spain to the UK:
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With the services provided here you can

  • Repatriate funds from UK
  • Repatriate funds from USA
  • Repatriate funds from Australia
  • Repatriate funds from Spain
  • Repatriate funds from France
  • Repatriate funds from Germany
  • Repatriate funds from Canada
  • Repatriate funds from New Zealand
  • Repatriate funds from 100 additional desitnations across the globe

 

How can this save me money?

One of the things banks like to do is to make money wherever it is most difficult to check them. This is why banks all over the world charge money while receiving international transfers / repatriating capital. Not only do they charge high exchange rate fees if the currency should be automatically exchanged, but they also charge fees if it’s a same-currency transfer. This means you would be paying anywhere from 0.1% to 2.5% on money coming from abroad, even if you have a foreign currency account One example of this is if you are repatriating money from the USA to your Israeli USD account.

With currency services like the one recommended on this website, you will just pay for the currency exchange itself, without paying anything for the for the international wire, which is a lot less than what you would have paid with banks. There are no additional (hidden) fees incurred.


How do you get started with repatiration of funds from abroad?

Sign up with more than one more company, and check which rates are offered to you. These rates will usually represent saving of at least 50% against banks, so it is usually best if you ’verify with your bank how much the repatriation of funds would potentially cost you.

If you like the rate, you will need to register with the company. The companies we have featured here are UK-based, so clients from UK or Europe would have the easiest time registering, while clients from other locations might need to provide a little more information about them and the purpose of this transfer. The reason for that is to prevent any form of money laundering and be in compliance with the FCA‘s orders. In addition, at least one of the accounts involved in the transfer in either sending or receiving the funds must be on your name.

When you are a verified customer, you can, at any moment, lock the exchange rate and move the money (or receive it from abroad). You can do so verbally on the phone, or through the online trading platform. You will have up to five working days to move money from your bank account to a segregated bank account that you will be provided with in order to fund your transfer.

Tip: In scenarios where you’re sending tens or hundreds of thousands of Pounds (or any other currency), you can negotiate the pricing and it will be best if you do so by comparing between several companies (we recommend you try the 3 companies featured above). Foreign Exchange is a highly competitive market, and a lot of the business is built on sending money abroad for property purchase, and the repatriation of funds for private clients. 

Learn More About Our Choices on our comprehensive FAQ

 

Experiencing trouble with any money repatriation service listed on our website? Let us research into it. View our FX Case Investigation service we have recently started.

 

Will I have to pay tax on property sold abroad?

In the UK: It depends on the situation. If you are  a returning expat who has been living in the property for the past 36 months, it might be considered under the private residence relief rules, and you will be exempted from taxes.  If this was not your main residence, then Capital Gain taxes will be incurred upon sale (and not upon retrieval of funds to UK).

More information can be found on Gov UK Capital Gain Tax Guide.


In the USA: It also quite depended on the situation. If you lived the property that was sold for at least two of the past five years as your primary residence, then tax will be exempted up to the level of USD 250,000. In any other scenarios, you will have to pay normal capital gains taxes.

If you are renting out a house abroad, you can deduct things like bills and mortgage payments from your rental report that you would have to submit to the IRS – as long as the house is rented 15 days a month or more.

More information can be found on Investopedia US Overseas Property Section.


In Australia: Your main residence is completely exempt from taxation. To determine whether it is indeed your main residence, the Australian Tax Office uses several factors. On all other cases of selling property abroad, you will be liable to pay capital Gains taxes.


Additional Property Articles: Property Market Overview 2016, Property Buying Tips

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