Making regular international money transfers to France

An introduction to the options available to you if you need to make regular payments in Euros, in France, from an account in a different currency (such as Dollars, Pounds Sterling, Rand, Yen and so on) elsewhere in the world.

Many people who retire to France need to have pension payments sent from an overseas account. This also applies to those buying a property in France where there is a mortgage to cover the cost of the purchase and the need to pay it back from an account elsewhere.

An automated regular payment plan can be arranged with a foreign exchange broker. This type of service simplifies making regular overseas transfers, as funds are collected by direct debit and automatically sent to the French Euro account.

Fixing an Exchange Rate

An exchange rate can be held for up to two years with foreign exchange brokers, so using a regular payment service can provide protection from adverse moves in the market.

Typically, there are three contract options with a regular payment service:

Fix the amount in the source account: This option fixes the "home account" amount to be debited from the account for each transfer. The Euro amount received will vary according to the exchange rate at the time of transfer.
Fix the Euro amount: This option fixes the Euro amount which arrives in the French account every time. The amount debited from the source account will vary according to the exchange rate at the time of transfer.
Fix both: This fixes the amount which leaves the source account and the Euro amount which arrives in the French account. (Option 3 is usually available for a period of between 6 and 24 months.)

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