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Moneycorp widens forex operations

Foreign exchange company Moneycorp is opening two new offices in Portugal and Turkey.

The new operations are to provide specialist foreign exchange services to overseas property investors.

The openings in Vilamoura in the Algarve and Bodrum in Turkey take the total number of Moneycorp offices worldwide to nine. Three have opened in the last year.

Moneycorp head of overseas operations Vasilios Dimarakis says: “Overseas property investors and emigres in these areas can now benefit from expert and accessible foreign exchange services as well as support services from our affiliates. We will be looking to develop further these relationships with professionals in the Turkish and Portuguese property and migration industries.”

Parador Properties Portugal head office general manager Iain Tozer says: “We work closely with Moneycorp so their new presence in the Algarve is very welcome. The fact that more than 80 per cent of our clients use their money transfer services says a lot about the quality of their operation. We have found them to be less bureaucratic than other providers.”

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