It can be confusing how to transfer money to another country cheap and secure. Here’s the best ways, and you’ll save yourself a lot of money by taking some time to read this guide.
The easy way, and the lazy way (delete which one you wish) is to simply use your bank. However, whilst this may be convenient, it’s also the most expensive way to transfer money to another country. You’ll get slammed by a hefty charge for every transaction, which soon mounts up substantially if you send money regularly, and also you’ll get some of the worst rates available.
If you plan to send regular money to another country, or a large amount, you are 99.9% of the time FAR better off using a specialist currency exchange service.
I can hear you thinking, “oh that’s too much hassle”.. well more the fool you!
If you get charged £15 and upwards for every send, and you get even an extra few cents added to your rate by your bank, you could be paying hundreds or thousands more than you should. It only takes two minutes to set up a specialist currency account.
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Specialist services often buy currency in bulk, and therefore can offer you better rates (far better than a bank) and more often than not, zero fees. If you are sending to another country, they will give you a competitive rate lower than your bank, and will be secure and safe.
If you transfer money to another country regularly, they will assign you an account manager who will keep you informed of the best times to send. This is invaluable, and you won’t get this type of information from your bank!
The account managers at specialist currency services keep up to date with trends in the economy, such as interest rates in countries or GDP levels, and watch the markets all day every day. Any fall in your favour and they will inform you that it’s a good time to send.
For instance, if you own property abroad and transfer money to another country to pay the mortgage or deposit, you might want to send a large sum when the rates are at a good point, rather than send smaller transactions. Having a specialist currency account is the best option for you.
So we recommend you to open a free account now with one of the UK’s leading currency specialists, go here and fill out the form. Compare their rates to any bank quotes and you’ll soon see why it’s smart to use them.
You can also read about the best way to transfer money to Brazil on this article.
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