Returning from abroad

Mr Hodgson was planning to return to the UK after living and working in Hong Kong. He wanted to transfer HK $5,000,000 to his UK bank account.

To allow him to budget more easily, he decided to fix the exchange rate in advance.

He fixed a rate with us three months before his move. We agreed a rate of 11.94 and he paid a deposit of 8%.

He would not generally have been able to book a forward contract with his bank.

He looked at the daily exchange rate his bank was offering on the day he transferred his money. He worked out that he saved about 0.5% - or £2,000.

For three months after he moved back to the UK, Mr Hodgson continued to receive a salary in HK dollars. He used our online system World First Online to fix a rate and transfer his salary back to the UK.

To find out more, call us on 0800 783 6022, or +44 20 7801 9080. You can also arrange for us to call you back

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