John From Moneycorp

Brexit – what happens next?

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    Brexit – what happens next?

     

    Comment by John Kinghorn from Moneycorp

     

    So after the hype and hysteria all year, the vote has come and gone. In June, the UK voted to leave the EU by 52% to 48%. Leave won the majority of votes in Wales and England - every council in Scotland saw Remain majorities. The result was unexpected by a lot of people and shocked the financial markets. As a result the pound weakened considerably against all currencies.

     

    Further to the result, David Cameron officially resigned as the UK Prime Minister causing political instability. With the Labour party also in crisis there was a political vacuum at a time when the country most needed to show leadership.

     

    The combination of the Referendum result and the resignation of David Cameron causes major worries and the pound has remained largely much weaker against the Australian dollar. This leads us to the question, the majority of people have voted for Brexit so what happens next?

     

    Following the result, the only certainty has been the uncertainty. And uncertainty is never good for the financial markets. Theresa May becoming Prime Minister this week has helped provide some degree of stability but many unanswered questions remain which we currently don’t the answers to, some of these key questions are below.

     

    · When and will we trigger Article 50 to formally notify the EU that the UK is leaving?

    · Will we still have access to the single market?

    · What does Brexit really mean for the UK economy?

    · Will it affect the UK’s standing in the world?

    · Will Scotland hold another Independence Referendum?

     

    All these questions are important because they affect businesses in the UK and how they can plan ahead – also for investment in the UK from other countries it’s important the message is that we genuinely are still open for business. What happens next will also affect the exchange and the pound against the Australian dollar.

     

    If you need to transfer money overseas?

    In this climate of change and uncertainty, if you need to transfer money to or from Australia, it is more important than ever to speak to an expert foreign exchange company.

     

    Exchange experts moneycorp can provide free expert guidance and information on the exchange rates - they offer competitive exchange rates, often beating the banks by up to 4%. Importantly they also provide expert guidance on when to transfer your money. As the exchange rate is always moving this is an important feature which can help you to save money.

     

    You can register for a free moneycorp account by clicking here. Once registered you will have your own account manager who can discuss your money transfer requirements in detail.

     

    Find out more information on the Perth Poms currency zone- http://www.perthpoms.com/index.php?pageid=currency-exchange

     

    Please mention Perth Poms when contacting moneycorp for free transfer fees.

    Edited by John From Moneycorp

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    Hi John. We have some money coming from Aystralia to the UK. A tax refund and the funds from the house sale. Now, obviously we aren't in Oz. Would you be able to transfer it as we no longer have an Oz bank account so currently looking at getting the accountant and settlement agent to send cheques by snail mail.

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    Hi John. We have some money coming from Aystralia to the UK. A tax refund and the funds from the house sale. Now, obviously we aren't in Oz. Would you be able to transfer it as we no longer have an Oz bank account so currently looking at getting the accountant and settlement agent to send cheques by snail mail.

     

    If there is a way for the Australian dollars to be sent to us then we can help?

     

    Let me know.

     

    Thanks

     

    John

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    Hi John. We have some money coming from Aystralia to the UK. A tax refund and the funds from the house sale. Now, obviously we aren't in Oz. Would you be able to transfer it as we no longer have an Oz bank account so currently looking at getting the accountant and settlement agent to send cheques by snail mail.

    Get the accountant to deposit to Moneycorp's account then you have funds sitting there which you can set up a deal for when ready....that's what we did, but from UK to here.

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    Get the accountant to deposit to Moneycorp's account then you have funds sitting there which you can set up a deal for when ready....that's what we did, but from UK to here.

     

     

    That would work - in this instance, we just need to receive the Australian dollars in our bank account then can make the currency conversion.

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