Thousands of people send money internationally everyday from making a remittance payment to a family member to buying property overseas or even paying for suppliers or goods overseas. Now to make international money transfers is a safe, simple and same day process.
The era of hundreds of currency brokers trading from home or setting up a company because their boss is making more money has now stopped. Money transfers is a regulated industry to protect business and consumers who have the need to send money overseas. Due to the liquidation of several foreign exchange providers, the Financial Conduct Authority changed the way business funds and consumer funds are held. Any company that makes an international money transfer have to have funds in place to ensure first the business can sustain itself for a long period of time without the injection of funds, in addition all funds received have to be held in a segregated client account. Money transfer payments are all to be conducted from this account. In addition to these changes all companies that trade currency must be FCA Authorised and FCA regulated. A company code of conduct and complaints process in in place so someone will listen to your issue and not wipe it under the carpet.
Well compare money transfers was the first website to start providing consumers and businesses information on making money transfers internationally.
FX compared give you more than just a list of currency exchange companies, FX compared provide detailed analysis information so that when you are ready to transfer your money overseas you can choose the best foreign exchange company for your needs.
There is a long list of currency exchange companies to choose from and they all provide a good sales pitch, but our team at compare money transfer go in to more detail when looking at each currency exchange company, most companies state they can trade all currencies but this is rarely true in fact some will actually partner with another foreign exchange provider to get a kick back an trade the currency.
We look at the currency exchange companies see what value or expertise you as a consumer or business can benefit.
Compare money transfers provides you more than just comparison tables, we try and provide you the whole picture about the companies listed. What we can say is all companies have been checked out and all companies that we have a relationship with will have tracking in place so we can monitor consumer sales and business trends.
Compare money transfer ltd provide a website where you can monitor the exchange rate and if you are too busy we will monitor the rate for you with our free rate watch facility on our mobile app. In addition to our differentiation charts we provide live currency calculators and historical data so you can see the currency movements for any currency pairs.
Otherwise your hard earned money will not be protected and that provider may lose them. Finally make sure you get personal account manager you can talk to and one that understands what you want. A good money transfer manager will save you money irrespective of the exchange rate and is on your side.
When you are ready the process is simple making a money transfer. Using our my currency transfer tables choose a company and complete an online application to open a currency trading account providing proof of address and identification. The money transfer compliance team will process your account you will then be able to buy and sell currency as and when you require.
Now buying and selling currency becomes simple to do just remember your currency account manager are experts in this field, so speak about your requirements and let them know what currency pairs you are looking to deal with and an indication of the timescales. The more detail you can tell your money transfer manager the better the relationship as if you have several months to buy the currency they can monitor the exchange rate and place a currency order such as a stop loss or forward contact securing the best deal possible. Once happy they will book in the currency order for you to confirm.
Once you are happy sign the conformation of transfer and send the total funds to the segregated account only. When the funds are cleared in the segregated account the money will be transferred to the recipients bank. Once the foreign exchange payment is completed you will receive a notice of conformation that the funds have been dispatched to the recipient.
Some money transfer brokerages will send you a text message to state a completed money transfer deal or they will send a conformation email.Remember when you are making international money transfers it is not just about the transfer rates, confirm timescales for transfer of funds. Ensure the foreign exchange provider is authorised and regulated by FCA.
Find, compare & save on international money transfers. Use compare money transfer to see currency brokers fx compared foreign exchange rates. If you are unsure of any foreign exchange company or think its a scam do not trade, contact us instantly and we will check them out.
Money Transfers comparison website works in partnership with some of the best foreign exchange companies in the UK and now offer you more than just a comparison service, Compare currency services offer you alternatives to using your high street bank when transferring payments internationally overseas. Unlike our competitors my currency transfer can guarantee. to beat any high street bank when transferring over £5000 and offer free transfers through a selection of approved foreign exchange companies. Complete our free currency audit form in the menu or optionally open an account with one of the companies that have an application form on our site and see how much you can save on transferring large payments internationally.
Locate a Western Union branch near you, find a Western Union money transfer branch near you? Using our WU Pay search for a town or even a branch name.
Considering purchasing an overseas property? Monitor the currencies rates with our free rate watch tool and we can tell you when the currency exchange rate hits its target. Getting pre planned currency exchange rates could save on currencies transfers when buying a property overseas. Save even more by locking in your foreign currencies transfer rate using a regular payment plan where you can lock in the rate for up to 2 years advance.
Get some help Compare Money Transfers are online resources that show you the costs of various providers when sending money to dozens of different countries
Paying too much for your currencies then use compare currencies transfer websites Compare money transfer services, which will offer you alternatives and more competitive rates than your banks
With companies like Crown Currency and interchangefx going under leaving thousands of people with out their currencies. Comparison currencies websites like compare money transfer rates, are now more important than ever
I run a local delicatessen business in Surrey. Many of my artisan suppliers are based in Italy, Spain and France. We are always making payments to these suppliers and knowing we are getting the best rates is vitally important for us; our margins are tight and any savings are crucial for the success of our business.
Comment written by Artisan supplier based in Italy.
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