Given the need to change currencies, there are significant better way to do this than via a bank. Foreign Exchange dealers are better able to assist clients in achieving exchange rates closer to the inter-bank rate than the banks, whilst reducing or eliminating transfer fees, saving you money.

Key benefits of a specialist foreign exchange dealer

  • If the industry could not save clients’ money they would not exist, clients can see a significant saving by utalise the specialist industry

  • Faster international payments (same day)

  • In-country banking allowing for both easier to arrange and faster payments

  • Transparent pricing on each transfer

  • Forward contacts – Specialist options allowing you to secure a rate of exchange even if your funds are not available

  • Bespoke and professional service with your own dedicated consultant who is experienced in international payments and French banking

  • Pro-active and free information – Free rate alerts and spike notification on the currency market

  • Automatic tools including limit orders and spike notifications to help protect you from adverse market movement or to take advantage of any gains, plus,

  • Regular transfer system and online payments

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Foreign Exchange services available

Spot contracts – This is a ‘buy now, pay now’ option. So if you have funds in pace, you could arrange a spot transformation. This is completing the exchange of one currency for another at the exchange rate at that point in time. Settlement is traditionally required within two working days and a broker should be able to achieve for you a significantly better exchange rate over that of the bank.

Forward contract – This is in essence a ‘buy now, pay later’ option allowing you to secure a live rate of exchange before your funds are available. A deposit amount is normally required which is traditionally around 10% but is dependent on the timeframe that full settlement is agreed which can be up to two years. This option is particularly useful for property vendors who are pending the completion and are uncomfortable with exchange rate volatility which could impact the sales value in another currency.

Regular payments – If you will be exchanging set amount of funds on a regular basis, this tool is really useful for a hands off approach. This is normally utalise for monthly mortgage payments or pension transfers.

Self-manage platform solution – An online platform allows you to manage your own exchanges and payments through your desktop or mobile device. With the knowledge that talking to a dedicated specialist is only a button away.

Choosing a Currency Dealer

It is vital to use a broker which is authorised and regulated by the Financial Conduct Authority (FCA) if you are UK based, or within Europe following Brexit, and that they ensure client funds are secure by either segregating client money or by having appropriate insurance in place to cover any loss.

French Tax Online recommend LUMON. They offer a transparent pricing structure which lets you see how much you will be charged based on your transfer size. Our focus is that our clients are well serviced.

LUMON have dedicated in country bank accounts within France and worked with over 550 different Notaire offices in 2021 alone so are very well placed to make your payments easy to arrange. They can provide all the relevant paperwork required for payments which our clients may be making including Proxy forms, Providence De Fonds and others. With a dedicated France team with bi-lingual in-country team members a lot of our clients find they offer true value.

We recommend LUMON without hesitation and encourage our clients to review their service, even if you already have a broker in mind.

You can reach their teams on either 0044-1494-422-267 or +33 (2)56 879 934. Alternatively, you can enter your details and request a call back through their website here:

French Tax Online is a tax consultancy firm specialized in foreigners investing and living in France.

A member of the Budiz Company Group, which is a French chartered accountant registered with the Order of French Chartered Accountants (OEC).

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