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Emerald Forest Properties

Offering Real Estate in Costa Rica with
experience, integrity, and dependability you can count on

HIFX Agent Introduction

By Brad Butler

   Currency

   HIFX is the leading independent provider of foreign exchange services to private individuals and businesses around the globe. Every year they help over 25,000 private individuals buy and sell currency for a variety of reasons including overseas property acquisition, emigration and regular payments abroad (for pensions, mortgages, salary payments, school fees etc.).

   You could potentially make huge savings by using a foreign currency specialist like HIFX who can offer you a better exchange rate and a more specialised service.

   Customer service and expert market knowledge

   Saving you money with great exchange rates is just the start. HIFX prides itself on excellent customer service. From the start, their team of experienced and friendly foreign exchange professionals ensure that every aspect of your currency transaction is as simple as possible. Throughout the process, their currency experts will 'hold your hand' providing straight forward explanations to all of your questions. They develop a precise understanding of your individual circumstances and then help you identify how best to achieve your objectives and protect yourself from adverse movements in the exchange rate.

   Finally, when the transaction is undertaken HIFX will give you better exchange rates than your bank; no fees, no commissions and no transfer costs, making your money go further.

   BENEFITS OF USING HIFX
? ZERO commission, ZERO transfer costs
? Regular Payments Abroad service for pensions and mortgages
? Protection against adverse currency market movements
? Access to jargon-free expert analysis of developing trends and market sentiment
? Faster payments, automated processing and enhanced security using SWIFT
? Best rates of exchange

   Why is understanding about currency volatility so important?

   At HIFX, they understand that buying or selling large amounts of currency can often be very daunting. It is important to understand that if you are buying abroad, you are exposing yourself to ?currency risk?. Currency movements can make a big difference to the final amount you end up paying for your property because of the time it takes to complete the purchase and subsequently, this could cost you thousands of pounds.

   For example, if you had agreed to buy a property in Costa Rica priced at $200,000.00 at the beginning of November 2006 (when the USD/CAD exchange rate was 1.1207) it would have cost you $224,140.00CAD. Had you neglected to fix the exchange rate at the time, that same property would have cost $237,040.00CAD by Jan 07 (based on a rate of 1.1852), an increase of $12,900.00 or 5.4% in just 2 months.

   'Spot' and 'Forward' currency contracts ? Remove the risk.

   If you have all the money available to purchase your property abroad you may prefer to fix an exchange rate to secure your costs. You have a number of options. You can do a ?spot? trade. This is where you buy all the currency now and your HIFX dealer will hold it on your behalf and transfer the funds abroad when you need them.

   However, if you do not have all the funds available yet to buy currency on a Spot contract but you are worried that future exchange rates might increase your costs, you can still play it safe and buy a ?forward? contract. To do this you only need to have access to 10% of the funds initially. It is simply a mechanism to ?buy now, pay later? where you are no longer exposed to currency movements.

   Making Regular Payments Abroad?

   Once you have bought your property abroad, like many people, you may still need to buy and transfer money on a regular basis. Whether for mortgage payments, property running costs or living expenses, you can save time and money with HIFX?s Regular Payments Abroad (RPA) service. You can fix an exchange rate for up to 2 years, establish a standing order with your bank and send the currency abroad for no charge. Complete peace of mind.

   To find out more about the currency services HIFX provides, simply contact Jody Cracknell direct on (415) 321 6384 or e-mail jody.cracknell@hifx.com or visit www.hifx.com

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