Wednesday 25 February 2009

Escape Unemployment, Recession and the Weather


As the Bank of England warns of a deepening of the recession, research from the Office of National Statistics revealed that UK unemployment has reached an all time high of nearly 2million.

Along with the rapidly changing face of the high streets, loss of a number of the UK’s best loved retailers, coupled with the dismal weather so far this year, its hardly surprising that some 200,000 Brits emigrate each year.

Last weekend the UK’s most comprehensive Emigrate Show returned to Edinburgh to entice Scots away from the clutches of the UK’s recession to a new and exciting life in abroad. Emigrate Edinburgh is the only dedicated emigration event of its kind under one roof to visit Scotland.

This year, Emigrate Edinburgh was held at The Royal Highland Centre in Ingliston. The show exhibited a range of migration experts who were on hand to provide detailed information on starting a new life in New Zealand, Australia, Candia and America.

Being ex-pats themselves the experts had first hand experience of the pleasures and pitfalls encountered when moving your life abroad. Emigrate Edinburgh catered for all, from those who were just looking to see if they could escape Britain and the credit crunch right through to those who had their visas and who were almost set to start their new life abroad.

No matter what stage of emigration planning, the show provided a range of information on how to sort out visas, employment, relocation, removals, and currency exchange.

Many people tend to forget about organising the transfer of their money in the excitement of emigration planning and often leave it up to the banks to transfer it for them. This oversight can mean loosing £1000s in currency transfers.

Scotland’s leading foreign currency specialist, No1 Currency, who help hundreds of Scots emigrate each year, were in attendance and on hand to provide free and specialist guidance on the best way to move finances abroad.

When it comes to moving your savings, banks invariably provide poor exchange rates, why? Because they can! They hold your money and know you’re probably too busy or stressed to shop around for a better deal. Coupled with their high transaction fees, you can lose up to an extra 4% on your savings when transferring via your bank

MD of No1 Currency, Mark McElney said, “To maximize your transfer it is vital to shop around to find the best rate of exchange. If you are transferring a large sum of money then your best bet is to seek free advice from a specialist currency broker from the outset.”

Not only can No1 Currency offer competitive exchange rates without the hefty transactions fees, they can also offer other services such as fixing your exchange rate up to 24 months in advance. This avoids loss of savings through adverse currency fluctuations, so you know exactly how much you will have when you start your new life abroad.