Expat Currency Transfers News
Latest 10 news items tagged Currency Transfers
1 Aug at 6 PM 2018
Expat professionals as well as Saudi businesses are now holding back on money transfers overseas.
Due to a government crackdown on corruption earlier in the year, any attempt to send more than $30,000 outside the emirate is now being blocked by the government. According to local banks, many expats and their families are now afraid to send money home in case the government is monitoring their activities. The crackdown resulted in some 300 top business owners and wealthy investors being detained for weeks in Riyadh’s luxury...
26 Jul at 6 PM 2018
The 21st century is set to be the century of the expat, with more and more millennials opting to leave their home countries in order to further their international careers.
As the number of expats working overseas at all levels grows, so do the amounts transferred between currencies and countries. The amount of money being sent across national borders is growing year by year as more and more people realise the world really is their oyster. Until recently, cross-border banking was a chore as well as a necessity, but traditional banks...
20 Jul at 6 PM 2018
Foreigners wishing to buy an apartment in Beijing or other major Chinese cities are being warned the process is anything but straightforward.
For expats who’ve arrived in Beijing, found a job or started a business and are now thinking of buying an apartment, the process is tricky, complicated and takes a very long time, even although previous regulations regarding a stay of a year before an application will be considered are now removed. It seems the bureaucracy involved is putting off the vast majority of long-stay expats from...
2 Apr at 6 PM 2018
Expats and travellers are being warned about yet another Airbnb property rental scam focusing on Spain.
Non-existent properties purporting to be on rental booking site Airbnb are being used to con expats looking online for Spanish accommodation. One luxurious central Estepona property discovered on popular e-commerce website Milanuncios during a media-led investigation seemed too good to be true for the price offered, and proved to be so as a result of the investigation.
When contacted, the scammer asked for two months’ payment...
27 Feb at 6 PM 2018
Britons looking to invest in a buy-to-let property in Spain should take note of the nightmare caused by a Benidorm tenant from hell and his family.
Burnley-born Kelly Louise Metcalf, now living with her husband in Valencia, was happy when her Benidorm letting agent informed her of a British tenant and his wife who were interested in renting her villa for at least a year. However, it didn’t take long for her to realise the couple were more of a curse than a blessing in disguise. John Anthony Parkin, his wife and their children moved...
9 Jan at 6 PM 2018
Dubai’s forex service companies are feeling the heat as Dubai banks begin offering free online remittance services.
Banks across the UAE are now offering free remittance services via online and mobile banking in order to claw customers away from the emirate’s currency exchange businesses. Forex company remittance charges are typically between Dh16 and Dh22 to send remittances back to expats’ home countries, and are now having a tough time as more banks run free services, promotions and other benefits.
First Abu Dhabi Bank is...
25 Aug at 6 PM 2017
Overseas pensions are more about investment quality than volumes of cash moving overseas, with problems down to dodgy advisors rather than the schemes themselves.
Following the UK government’s published concerns on rogue financial advisors targeting expats overseas as well as retirees in the UK, critics of QROPs are inferring a reduction of the numbers of jurisdictions implies a fall of interest in the schemes. Relevant articles by respectable providers on financial websites, however, seem to be confusing the issue as regards the...
10 Aug at 6 PM 2017
EU member states and Spain in particular are still on the retirement agenda for UK would-be expats.
Britons coming up on retirement are still favouring European destinations in spite of the uncertainty surrounding the final outcome of the Brexit negotiations. A recent survey has revealed one in every 10 UK citizens over 50 years of age is still considering retiring abroad, with Spain topping the favourites list again. As usual, reasons for leaving include the British weather, a more relaxed lifestyle and cheaper costs of living....
8 Aug at 6 PM 2017
Wherever you’re working as an expat and however much you’re earning, you might need to transfer money back home.
If you’re working overseas and supporting your family back in the home country, you’ll need to be able to make regular transfers without their costing you a fortune. The same goes for mortgage payments and savings accounts in your own currency. Currency transfer
is very big business for international banks, with transfers from overseas to the UK totalling around a massive four billion sterling in 2015, much of which...
18 Jul at 6 PM 2017
Kuwait’s anti-expat parliamentarian hits out again at foreigners working in the emirate.
Expats living and working in Kuwait could have been forgiven for hoping MP Safa al Hashem would find another cause to sensationalise after her initial anti-expat rants in the country’s parliament. Unfortunately, foreign professionals and other expat workers are in her sights again, as she’s now demanding a 10-year cap on expats’ stays in the emirate as well as a ban on dependent visas with the exception of parents and a doubling of charges...