Sipping on a frosty glass of Cabernet Sauvignon, seated on a table outside one of her favourite bars in the Vieille Ville, Nina felt content. She looked at her husband, Frank, and suggested they take the plunge.

They’d been considering it for almost a decade. And now, as their two children had grown up, been to university, started careers and left home, it felt like the right time to do it – to retire to Nice.

Both in their mid-sixties, there was nothing that the husband and wife wanted to do more than remove themselves from the rat race. Nina had had a successful career as a schoolteacher, working her way up to become Headmistress of a reputable South London Primary school. Meanwhile, Frank had gone into advertising, and spent the last dozen or so years as director of communications of a global marketing agency.

The married couple worked hard throughout their lives. Whether it was moving up in their careers, raising the kids, or making sure their own parents were looked after, Nina and Frank tended to put others before themselves. At the ages of 64 and 66 years old, they decided it was time to give themselves a well-earned break.

If Nina and Frank were going to retire abroad anywhere, it was going to be Nice. To them, the location had everything you would need for the makings of a blissful life. During the incessantly rainy British summer days indoors, they’d discuss the good food, great wine, cobbled backstreets and beach life that awaited them.

During their lives, the couple had made a comfortable living for themselves. They didn’t know the extent of it at the time but purchasing a three-bed South London property in 1991, and later adding a loft conversion, turned out to be an incredible investment. In 2018, the mortgage was paid off and the house was valued at just under a million pounds.

Adding to this both their pensions, a savings account, and a bit of money Frank had made in stocks and shares, the couple had enough for an enjoyable retirement.

They sold their home relatively easily to a couple in their 40s and were ready to make the big move. First things first, they had to find a property. After a quick Google search, Nina came across Privalgo. She got in touch and within minutes she was talking with our specialist Relationship Manager, a friendly gentleman named Louis.

Louis got Nina and Frank in touch with 1st For French, one of our property partners. Through 1st For French, Nina and Frank were able to find a picturesque three-bed apartment not far from the Old Town in Nice. Small enough to warrant little maintenance, large enough for their children (and who knows? Maybe one day grandchildren) to come and visit whenever they wanted.

The couple got an accepted offer for around €600,000. This meant they could put the money left over from their London property into savings and give some to their kids, helping them get on the property ladder back in the UK.

As Nina and Frank travelled to Europe a lot, they knew from experience that exchanging pounds to euros through a high-street bank would cut a decent sized chunk out of their funds.

A poor exchange rate isn’t the end of the world if you’re going on holiday for two weeks, but when transferring hundreds of thousands of pounds across the channel, the couple knew that they’d have to find a better way of doing things.

They’d discussed with Louis about their plans and told him they aimed to get the best exchange rate possible. They had some freedom regarding when they needed to send the money for the house. The GBP/EUR exchange rate was currently quite strong. But they felt they could do better.

Louis suggested one of Privalgo’s popular solutions — a ‘Market Order’. This involved Nina and Frank choosing a target exchange rate. Privalgo could monitor the currency markets. When the desired rate was met, we could make the transfer immediately on the couple’s behalf.

Louis knew that the European Central Bank had a key announcement the following week. He speculated that the pound would strengthen against the euro as a result of it.

On the back of this information, Nina and Frank decided on a target rate. In the next week, Louis’s predictions became true, and the desired exchange rate was achieved. Privalgo was able to exchange the currencies as soon as it happened.

Not only did this mean that the Nina and Frank were able to make a great value transfer, but it also meant they could leave the hard work to us. Instead of closely watching the currency markets, they were able to focus on other aspects of moving abroad — like their farewell party.

The new expats were over the moon with the result. They planned to put the money they essentially saved on the transaction towards renovating their new apartment.

If you, like Frank and Nina, are planning on moving abroad, find out how we can help you with your currency exchange. You may not have the exact same requirements, but that’s okay. We get to know you and your specific needs and tailor each solution accordingly.

Book a chat with a Relationship Manager to see what we can offer you.