When making international money transfers, it is essential you know what to do to get yourself the best value possible. There are many ways you can lose out when making such transactions, but so long as you bear a few things in mind, you should have nothing to worry about.
Firstly, it is important that you are aware of what you can be charged for with an international money transfer. Many companies have extra charges (such as commission), so you should always make sure you know what exactly you will be paying them.
As for exchange rates, many companies allow you to have your own currency dealer, meaning you get to know them and they get to know what your needs are. This situation is ideal as they will learn about your business and will be able to save you money due to the extra knowledge they have about you.
Sometimes, foreign exchange rates will not be ideal, however your currency brokers should get the best rates possible for you, so if rates at that time are lower than you might have expected, don’t refuse what you are offered – you may lose it and have to settle for something even lower in the end. You might want to do a little research into the current exchange rate market before you visit your currency dealer so you know what kind of values you should expect.
At Pure FX, we offer a personal yet professional international money transfer service that can suite your needs, whatever they may be.