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One-off transfer case studies

Foreign company buyout

Situation

Having managed the corporate treasury for his company for the last few years a Finance Director called on us to assist their senior management after they received a USD windfall. 

Complication

The company was acquired by a US listed company and the directors received large amounts of US dollars for their shareholdings.

Solution

Each shareholder was given access to a personal FX dealer on the trading floor who was able to assist with their foreign currency requirements. While the largest shareholder also decided to make use of our Wealth and Investment department’s services.

Emigration

Situation

A private individual contacted Investec after he and his wife decided to relocate to Texas.

Complication

They needed a secure and cost effective way to transfer their UK savings over to their US bank account.

Solution

His personal dealer took the client through the easy application form after which their bank account was opened 2 hours later, zero cost. The dealer then provided the client with a preferential rate to transfer their funds over to Texas. The rate was booked over the phone and the US dollars was credited to the clients US bank account that very same day.

Business sale

Situation
An individual in Scotland sold his technology company for a large amount of US dollars and called Investec to see whether we were able to help.

Complication
At the time of receiving the US dollars GBPUSD had moved against the client and so he decided to hold off until the rate was at level where he wanted to convert at.
 
Solution
He agreed with his dedicated dealer to watch the market on his behalf, which included updating him with market forecasts from our economists and calling him when the market reached his target rate. Not only did we take the stress out of the watching the markets, we placed his US dollars in an account which provide him with a return whilst he waited! The latter being something only a bank can offer.

Regular transfer case studies

Regular overseas bill payments

Situation

A football player playing in the UK spends much of the off season in his home country and also still has monthly expenses to fulfil.

Complication

He wanted a hassle free way to send an amount of pounds over to his home country each month. Being a professional footballer with limited time he didn’t want the hassle of remembering to call to book the transaction each month.

Solution

His personal dealer managed this for him and gave the footballer a monthly call as a heads up to confirm the rate. All the footballer had to do was confirm the amount to be debited each month and we made the transaction happen even paying 3rd parties occasionally.

Repatriation of salary to the UK

Situation
A rugby player contacted Investec to see if we could help with his personal foreign currency requirements. He plays rugby in France, but calls the UK home.

Complication
He wanted to convert his euro earning to sterling when the rate looked attractive. 
 
Solution
His personal FX dealer provided him with views on the market and kept him informed of market movements. This enabled the client to choose when he was happy with the rate and make the transfer.

Overseas property purchase

Situation
An individual that lived in the UK contacted Investec when he decided to build a holiday home in Europe

Complication
He needed to make regular payments to the builder for different stages of the build. He was happy with where the market was at the time of speaking to Investec and wanted to fix the rate for all future payments he had to make over the next year.

Solution
His personal dealer booked a rate for all the payments to his builder, allowing the client to focus on the building project and not worry about the foreign exchange fluctuations.

Forward transfer case studies

Overseas property sale

Situation
A client contacted Investec when he sold his property in Australia. He was renting in Australia and relocating his family in 6 months’ time to the UK.

Complication
He wanted to lock in the market rate for the transfer of his funds when he moved back to the UK.

Solution
His personal dealer was able to book a preferential rate for the client for delivery in 6 months’ time. The client had to place a 10% deposit in his Investec account to secure the rate.

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