Transferring savings and pensions overseas

Transferring savings and pensions overseas

Get started

Save money on your overseas pension payment

Whether you’re chasing the sun, looking for a bargain overseas property or simply moving closer to loved ones, retiring abroad is a rewarding and rejuvenating experience. However, it isn’t without its challenges - one of which can be funding your new life abroad.

With this in mind, it can be important to rely on some support when you need to move your savings or transfer your pension payments abroad. As specialists in foreign currency exchange, we provide our customers with a quick, easy and cost-effective way to transfer funds between their UK and foreign bank accounts, helping to get more out of their money.

 

What happens to my state pension if I move abroad?

When it comes to bringing your state pension abroad with you, there are two options: transfer your pension pot to an overseas pension scheme, or leave your pot in the UK and simply send yourself the funds as and when you please.

The second option is the most popular with retirees abroad, allowing you to enjoy the protection of the UK pension scheme whilst still bringing your money with you for your new life overseas. In order to send yourself your pension payments, you’ll need to make international payments.

 

How can I make pension payments to a foreign bank account?

Moving your money from a UK bank account to a foreign account can be more costly than first thought for some, with many high-street banks providing poor exchange rates and charging steep transfer fees.  

Fortunately, we can process payments of your savings or state pension abroad, saving you money with excellent exchange rates and low-fee transfers.

If you have access to your full pension pot, you can send your money over to your foreign bank account with one large overseas payment, or you can set up regular international transfers between the two accounts.

 

How to protect your pension payments from exchange rate movement

Our foreign exchange tools allow you to protect your money against exchange rate movements, by securing a prevailing rate for up to two years with a forward contract. While this may require a deposit, this ensures you know how much you’ll receive from each future currency conversion.

It’s up to you to decide how to manage your funds, with the option to manage it all and send money online, or if you’d prefer, talk to one of our currency experts. Our experienced team can provide support and guidance, and can also regularly inform you of market movements or updates.

How can we help?

120+ currencies to send savings & pensions in

120+ currencies to send savings & pensions in

24/7 access, no matter where you are in the world

24/7 access, no matter where you are in the world

The ability to set up easy, regular payments

The ability to set up easy, regular payments

Making the most of your international payments account

Make a payment

Make a payment

No matter how big the transfer, we are ready to send your global payment.

Find out more
Regular payments

Regular payments

Hassle free international payments for when you need to send them on a regular basis.

Find out more
Online account

Online account

Access your funds 24/7, ensuring you can get to your money whenever you need to.

Find out more
Tips on sending savings and pensions abroad

Tips on sending savings and pensions abroad

Our News Hub has plenty of easy-to-read guidance on how to send pensions and savings

Read more
Refer a friend and you will both get £75.

Refer a friend and you will both get £75.

Tell your friends about moneycorp and you’ll both get £75 when they exchange £2,500 within 3 months. T&Cs apply.

Learn more