Whether you are making a money transfer for overseas property, importing goods, making regular mortgage or pension payments to a bank account abroad or simply transferring money to a family member, you will want to get the best service and value for money.
It’s recommended to engage with a specialist FCA authorized money transfer company that can handle any transfers you need to make safely, securely and at the best possible exchange rate. There are many benefits to using a specialist currency broker, and in today’s post we’ll analyze the top ways to score a cheaper and fairer deal on currency.
How To Find A Reliable And Accredited Money Transfer Broker
Finding the right currency broker is easy thanks to the wonderful resources we have available to us online. You will find many companies offering their services as well as at a glance comparison sites that allow you to browse the services available and choose the right broker to suit your needs.
Make sure that you only choose a money transfer specialist that is FCA authorized. This will ensure your funds are safeguarded via segregated client accounts. An accredited transfer broker will have access to the latest market rates and is qualified to give you market guidance on any transaction you need to make.
Money Transfer Services Tailored To Your Exact Needs
As markets can move by up to 1% in a matter of hours, personal service is highly important when you are transferring money to another country. No two money transfers are the same – sums are different, exchange rates fluctuate and the reasons for a money transfer can vary wildly. The good news is that a specialist transfer broker will have years of experience and be able to tailor your transfer according to your requirements.
And if you need to make regular money transfers, there are products available that will ensure you get a good rate throughout the year. Forward contracts and similar offerings allow you to fix your exchange rate so that you can keep control of your budget no matter what the currency markets might be doing.
Save Money On Your Next Overseas Money Transfer
Whether you are transferring a small amount or hundreds of thousands of pounds, a specialist currency broker could save you up to 5% on your next transfer. That’s a £5,000 saving if you transfer £100,000. Banks fix their rate once or twice per day, whereas specialist currency brokers call into the live market, offering wholesale exchange rates.
Avoid Dubious And Hidden Charges
A dedicated money transfer broker can also help you to avoid overseas bank sending and receiving charges. It is common practice in some countries for banks to charge you money just for receiving money into your offshore account. You can also enjoy no fees and no commission when you transfer above a certain threshold.
Whether you are making regular business transactions or transferring money abroad for personal reasons, the wise choice is to use a dedicated money transfer specialist with access to the best rates and a broad range of products.
This is a guest contribution written by Aviva Tabachnik, resident currency expert at OPP award winning comparison website MyCurrencyTransfer. Last week, Aviva demoed the companies latest innovation CurrencyTransfer.com at Finovate, the world’s largest financial technology conferency.