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The Importance of Knowing About Charges for International Money Transfers

GuidesThe Importance of Knowing About Charges for International Money Transfers

It can be easy to ignore any charges you may be given when making international money transfers, since it is likely you are much more focused on the potentially large sum of cash you are actually transferring, buy many international money transfer companies, as well as banks, will charge you fees or commission, and it is important you are aware of these before you carry out your transaction to avoid spending more money than you had budgeted for.

There are multiple reasons that a company may charge you fees or commission for using their services. Often, it can be tempting to go for companies that don’t charge you anything – however you should be wary of such companies, since without fees, it is unlikely the company will be able to earn enough to legitimately stay in practice.

It is also important that the company you choose is up front about any fees they may charge. A good international money transfer company will be happy to tell you exactly what you will be charged, and why. Frequently, a company will charge you a commission based on the amount of money you are transferring, although many also have set fees for providing certain services. Once you know what you will be charged, you can budget accordingly in order to make sure everything is going to run smoothly financially.

At Pure FX, we provide a fast and secure international payments and money transfer services, and are always up front about any fees you may encounter, ensuring you know exactly what to expect from your transactions with us.

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