More people than ever are now using currency exchange specialists when sending large amounts of money (anything more than 3000 GBP) abroad, as they are by far the cheapest and most secure option.
Of course, going to the nearest bank is still the most convenient method of exchanging currency, but the foreign exchange rates they offer private clients are far less competitive than those delivered by exchange specialists. The reason bank exchange rates are so poor in comparison is because modern banks are very large corporations that have to offer a wide array of services. Exchange specialists on the other hand are by definition, specialists. This means that they employ experienced money market brokers who deal solely in foreign exchange services for private (and business) clients.
The foreign currency exchange rates they offer are typically far better than those available elsewhere because they take a much smaller margin than banks do. Most exchange specialists do not charge a fee for relatively large transfers and commission is either not bothered with or is negligible at best.
So, when the time comes for you to send some serious money overseas, make sure you use currency exchange specialists. No matter if you are moving abroad and need to set up regular currency transfers, or if you just want to send a large amount of money to a foreign bank account, make sure you get experienced currency brokers to take care of all your foreign exchange services for you.
