This article offers a straightforward guide to transferring funds to Portugal for new residents or property buyers. From securing competitive exchange rates to timing transfers wisely, it covers essential tips to make the process smooth, cost-effective, and secure.
Claire Wheatley
Wednesday, October 30, 2024
So, you’ve decided to make the leap and start a new chapter in sunny Portugal—what an exciting adventure! First off, congratulations on this incredible step! We are firm believers in making those bold, some might even say crazy, life decisions and following that inner voice that tells you, “Yes, Portugal is calling.”
Moving to Portugal—whether to relax in the sunshine, invest in a dream home, retire, snag that fabulous holiday property, or simply start fresh—is as thrilling as it gets. But let’s face it: moving money internationally can seem like one of those tasks that’s both essential and, well, a little terrifying. The thoughts of “How much money am I going to lose when transferring?”, “How do I make sure I get the best deal?” and “When should I take care of it?” might be holding you back from diving in and kick-starting this adventure on the right foot.
The good news? With the right support, transferring funds doesn’t have to be complicated or stressful. In fact, it can be smooth and hassle-free—like it was meant to be part of the journey!
You know us; we’re big believers in making things simpler for you, so we recently talked with Claire, the CEO of Moving Currency. They have helped countless people like you transfer their money overseas safely, quickly, and at the best possible rates. So we asked her to share her top tips.
Are you ready for it? Here’s everything you need to know to ensure your funds reach Portugal in tip-top shape!
(Photo by cottonbro studio on Pexels)
When transferring large sums of money, like for a house deposit or property purchase, getting the best exchange rate is crucial. Even a small difference in the exchange rate can make a significant impact on how much you’ll pay—or save!
Unlike using your bank, where exchange rates can be less than favorable, working with a specialized currency transfer service (like us!) ensures you get the most bang for your buck. It’s one of the easiest ways to save money, and when you’re moving to Portugal, every euro counts!
One thing that can make a big difference when transferring funds is timing. The currency markets can be a little unpredictable, and small fluctuations in the exchange rate can make a noticeable difference in how many euros you end up with in your Portuguese bank account.
No need to feel overwhelmed by this, though! Moving Currency's team can keep an eye on the markets for you and help you decide the best time to transfer your funds. We’re all about making this process as stress-free as possible.
Now, let’s talk about how easy it is to get your funds to Portugal. Here’s a simple breakdown of the process:
(Photo by Liza Summer on Pexels)
If you’re not sure when you’ll need to transfer funds, here are a few common reasons our clients move money to Portugal:
(Photo by Kaboompics on Pexels)
Moving to a new country comes with its challenges, but transferring your funds shouldn’t be one of them. Here are a few tips to avoid common mistakes:
Another important thing to consider when transferring money to Portugal is any potential tax implications. If you’re moving large sums of money to buy property, it’s always a good idea to speak to a tax advisor who understands both your home country and Portuguese tax laws. While we’re experts in currency transfers, getting solid tax advice will ensure you stay on the right side of the law and avoid any surprises.
Moving money to a new country is a big step, but knowing your options puts you in control. And here’s a little secret: each transfer, each choice you make in this journey, is another step toward fully embracing your new life in Portugal. Whether you’re managing the monthly budget or finalizing a major purchase, having a clear view of your finances lets you focus on what really matters—enjoying this exciting new chapter!
At the heart of it, moving to Portugal is about stepping into a world of possibility. Every part of this journey, from finding your dream home to managing your finances, is a step closer to that fresh, better quality of life you’re building. So lean into the adventure, ask questions, and let trusted resources guide you where it counts.
And if you're ready to kick-start your move or have any questions about making your money transfer as smooth as possible, connect with the friendly team at Moving Currency. They’re here to help you make the most of every euro you bring to Portugal, ensuring that your funds arrive safely and your future shines as brightly as your dreams.
Written Together With Claire Wheatley
Claire Wheatley is the CEO and Founder of Moving Currency, where she delivers personalized currency exchange and money transfer services for global clients, including individuals, businesses, and international real estate agents. With over 20 years in financial services, Claire identified a need for a more approachable, tailored experience in the currency transfer space. Since 2017, she has grown her company to serve over 800 clients worldwide, ensuring secure and cost-effective international transfers. Her leadership emphasizes building trust, providing private banking-level service, and creating smooth financial solutions for a global audience.
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© 2024 Smoozitive SAS. All rights reserved
© 2024 Smoozitive SAS. All rights reserved