The straightforward way to exchange and send your funds.
A ‘Spot’ contract is the simplest type of currency contract and involves agreeing a price that you are happy with, before you transfer your selling currency (usually Pound Sterling) to the A Place in the Sun Currency client account, immediately after which we will transfer your buying currency (eg Euros) to the account of your choice.
The buying currency can be sent to any bank account, whether it is your own currency account, or directly to your solicitor, property agent, or other third party involved in your property purchase.
We can also split funds for you and send the exact amount for a deposit or completion to your solicitor and the balance to your own account abroad, for example. Or of course, you can buy the exact amount needed for a particular payment and send it directly to the beneficiary.
Spot contracts are agreed by phone or email, and once you have given instruction to us to buy your currency at an agreed exchange rate, we ask you to send us the agreed selling currency within a couple of working days – the rate won’t change in that time, as we have already secured it at the time of your order.