High street Bank Exchange Rates? Deciding the best way or method to receive from or move the money to another country, is usually a difficult decision to make. However with more and more people living abroad, sending & receiving money has become a very common exercise. It is important for one to remember the very basic rules so that they can save cost, worries, time and beat the high street banks.
Using Conversion Rate Calculator?
Possibly the best feature that both the International Money Transfer Companies and money transferring banks have in common is the conversion rate calculator. The conversion rate calculator is very useful and found on the website of all the money transferring companies as well as banks. Some services of money transfer have one calculator on their homepage, which uses inter-bank rates and shows the customer-rates on a different page. Many other services have the calculator for the customer-rate on their home page. One should first consider using the customer-rate calculator first before going to the money Transfer Company or bank.
Beat High Street Banking Rates Guaranteed by comparing money transfer companies Vs Money Transfer Banking providers. As many people have experience in dealing with money exchange and transfers via bank, an increasing number of individuals realized that transfer companies and the International Money Exchange are reliable, cost-effective, and trustworthy partners. However, before we draw a conclusion, we will compare these two entities based on features, benefits, and other parameters.
Compare Bank Exchange Rates?
The comparison based on this parameter is rather straightforward and simple. Whilst majority of the money transferring companies normally do not charge anything on transfers higher than a certain limit, banks usually take a share from every international transfer, resulting in a higher Bank Exchange Rates. As a matter of fact, there are some transfer companies that charge no fee for every transfer, irrespective of the amount. That makes the money transfer companies a better option.
Hidden Fees and Transfer Speed?
Waiting for many days just to get a confirmation that the money that was transferred has successfully gone through, is a bad experience in itself. It makes one get tensed, worries endlessly, and lose credibility. If one goes for bank transfers, he/she can expect the money to get transferred in 4 to 8 working days. However, transfer companies are many but all of them are known to get the money transferred in lesser time. Moreover, the transferor FX companies have no or very minimal hidden fees unlike the money transferring banks that usually have higher Bank Exchange Rates.
High Street Banking Exchange Rates Comparison;
High Street Banking Exchange Rate Guidance and Support?
Usually, the customer support consists of three phases; pre-sale, execution & follow-ups. The international transfer and money exchange companies cover these three phases effectively. They get in touch and provide any required information. Additionally, in most of such companies as soon as one signs up he/she is assigned one dedicated dealer for any support.
The support will include technical training, market advisory, & execution support along with a continuous updating on trading opportunities and trends. Unfortunately, the money transfer banks are still lagging behind when it comes to detail orientation. Known to provide you with a helpline number and in some cases, a relationship manager. The processes are quite rigid as well as slow as in most cases one relationship manager handles many clients alone. The majority of complaints done by customers about money transferring banks mention the customer service to be a common problem.
Bank Exchange Rates Customer Satisfaction?
This parameter is probably the most important and crucial one. Also, Considered as a summary of all the above parameters. The satisfaction level of the clients gives a very clear insight. And understanding into how international money transfer or FX companies and money transferring banks perform. The level of customer satisfaction understood quite easily and it needs no calculation. Rather it requires and takes into accounts customers' reviews and testimonials. Customers across the world voted the money transfer companies to be a better option. As compared to the money transferring banks based on many parameters, right from exchange rates to customer support system.
Banking Exchange Rates Conclusion?
Having discussed each of the key parameters, it appears to be quite obvious that an international FX. Or Money Transfer is more likely to be a much better option than a money transferring banks. From another perspective, a bank's core job or responsibility is to strike a balance with money lenders and money borrowers. On the other hand, an International Money Transfer Company's job. Our responsibility is only to enhance and improve the money transfer.
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