Thousands of us transfer money overseas every single year; whether it is for business or personal reasons. We could be buying a property abroad (in the sun) or even moving funds back and forth from the UK.
Whatever the reason you are choosing to transfer your cash, it’s important to be safe while you’re doing it.
While so many of us choose the easy option of using our banks when transferring money that we forget that they often don’t offer the best exchange rates or services. It’s important to think outside the box and consider alternative online money transfer services which work hard to give you the best value.
Here are some tips to help you get even more for your money when using money transfer international services:
1.Find the best exchange rates
Now you could take a slow walk down to your local high street bank to transfer money but you won’t find the best exchange rates. Banks rarely, if ever, offer the best exchange rates.
Instead, why not opt for using a foreign exchange expert? With loads to choose from online there’s no reason for you to lose any money when exchanging currency or sending money abroad.
2.Find the cheapest fees
If you’re going to send money abroad on a regular basis – for a pension or a mortgage perhaps – then it’s important you choose the best company with the lowest fees. Different companies will charge different fees, depending on how much you’re sending and where you are sending it to, so be sure to do your research.
Depending on your needs, some best online money transfer services will offer free transfers in exchange for a monthly or even annual fee. If you don’t send money abroad any more than once a month then this could be a cheaper option.
3.Ensure your service is regulated
When transferring your money abroad; safety and security must come first and should always be at the forefront of your mind. Therefore, it is important that you ensure any cheap online money transfer services you use are regulated by the Financial Conduct Authority (FCA) or the Financial Services Authority (FSA).
With these three tips in mind, you can be 100% sure of getting the most for your money when using a fast online money transfer services company. After all, no one wants to take a risk where their wallets are concerned!
The author is an established financial critic and explores the best options to help people meet their financial requirements.
Article Source: http://EzineArticles.com/expert/Amritraj_Singh/2102369
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