At Kyero, we are all about ‘finding your sunshine with confidence’ whether you are looking for your dream property or arranging your international property payment and that’s why we spoke with Lumon, international property currency specialists, to offer you their expertise, knowledge and unparalleled service.
We asked Lumon to answer the most commonly asked questions that buyers, like you, ask them on a daily basis.
A currency specialist, such as Lumon, specialises in helping individuals and businesses exchange currencies at favourable rates. Lumon leverages its expertise and market knowledge to provide you with quick, effortless and secure currency transfers as well as assisting you in navigating currency markets efficiently.
Currency specialists like Lumon offer several advantages over traditional banks:
· Better exchange rates: Lumon can often offer more competitive rates than banks due to access to wholesale markets and specialised knowledge. Lumon exchanged in excess of €5bn last year for clients as a result of being able to provide a great service and price.
· Personalised service: Lumon provides dedicated account managers who understand the intricacies of buying property abroad and guide you through the process of exchanging money to best suit your needs and budget. Many of the account manager at Lumon have over 10 years’ experience assisting clients buying property abroad.
· Reduced fees: Currency specialists like Lumon typically provide a more cost effective way of moving money internationally when compared to the banks, saving you money on each transaction.
· Expertise: Lumon's team of specialists closely monitor market trends, to help you make informed decisions as to when to convert your funds. As the exchange rate is constantly changing, having a currency specialist like Lumon act as your eyes and ears on the market means they can notify you should the exchange rate move in your favour.
Yes, reputable currency specialists adhere to strict regulatory standards to ensure the security of your funds. They hold client funds in segregated accounts and follow established industry regulations to keep your funds secure.
Currency specialists offer real-time access to interbank exchange rates, the rates at which large financial institutions trade currencies. They add a small margin to this rate, which is generally lower than what the banks offer, providing you with a more cost-effective option.
Currency specialists are experienced in handling large transactions and can assist with property purchases, international business transactions, and more. They can also provide market information to help you make an informed decision on when to place your transactions in an effort to to take advantage of favourable rates.
Getting started is simple. Reach out to your preferred specialist and their team to open an account. You'll be assigned a dedicated account manager who will work closely with you to understand your needs, explain the process, and assist you throughout your currency exchange journey.
Yes, currency specialists can provide various risk management tools to help you mitigate the impact of currency fluctuations. They offer options like forward contracts, which allow you to lock in an exchange rate for a future date, providing you with certainty in uncertain markets.
Fees and charges should be transparent, ensuring you're fully informed before making any transactions. Currency specialists usually has lower fees compared to banks, making your currency exchange more cost-effective.
No, currency specialists can assist you for everything from the deposit, property purchase, renovation costs, pension transfers and even help you with the import of that classic car purchase and much more. These transfers can be arranged over the phone with your personal account manager or online via their great self service platform.
Please keep in mind that there are risks involved with all financial products. Kyero is acting as an introducer and is not associated with our partners in any other way. Kyero holds no responsibility for the services or knowledge offered by our partners. The content given doesn't constitute advice.
Lumon is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 902022) for the issuing of electronic money.
