1. Why use compare money transfer or any money transfer comparison website to send money?
Comparison sites like Compare money transfer have been designed to show you alternatives to transferring your money overseas. With so many options these days most people opt for using their bank as it is the most convenient way but with this comes the expense. Compare money transfer and in fact other comparison websites offer you alternatives to sending money all around the world, from instant collection options such as western union to buying property overseas using Currencies Direct to paying your suppliers using Moneycorp. Plus we guarantee to get you a better rate when you transfer over 5k
2. Where can I send money?
You can send money by bacs, chaps, wire transfer, cheque but no cash to all Compare Money Transfer brokers listed on our comparison chart. By sending this way you keep a track record of your payments for future reference.
3. How many countries can I send money to?
The Compare Money Transfer brokers listed on our network is continually expanding, both into new countries as well as adding more locations in existing countries. Currently, most foreign exchange traders operate in 143 countries worldwide.
4. How can I pay for my money transfer?
You can send money by bacs, chaps, wire transfer, cheque but no cash to all Compare Money Transfer brokers listed.
5. Are there different ways of sending money?
Yes. Depending on the country you are sending to / from, the following options are available:
Travel money / travelers cheques these can be collected at your local branch or delivered directly to your home. – Instant Money transfer where you can make a payment via bank transfer, credit card or debit card to online and send money to your required destination. For amounts over £5000.00 – Foreign exchange broker / trader where they will offer you the best exchange rate available compared to high street banks, Regular money transfer again use a foreign exchange broker or trader where you can set up a standing order / direct debit and pre book your rate so you know the currency rates you are getting.
6. Do I need ID when sending or receiving money?
Generally yes, an ID is required; this is to set up your account to confirm who you are. Acceptable forms of ID will include a passport, identity card or driver's license.
7. How long does it take to transfer the money?
This depends on the service and the foreign exchange broker it can range from instantly, same day to 2 to 3 days depending on the rate and terms and conditions of agreement.
On average it normally takes up to 2 - 3 working days, depending on local banking systems.
8. How much does the service cost?
The fees you may / will pay will vary depending on the foreign exchange broker you have chosen. Either way they are very competitive and offer excellent value for money compared to high street banks. Most Money transfers brokers offer no commission charges, and most offer no transfer fee over £5000.The transfer fee varies depending on the amount you are sending and where you are sending from / to. Please confirm any costs with your trader before you commence your transaction.
9. Do I get a reduction if making a number of transfer payments?
If you are transferring money on a regular basis or to pay suppliers or bills then you can speak to your foreign exchange broker they usually will offer you a better exchange rate if you are transferring money on a regular basis as it is in their interest to keep your business long term.
Note: discounted rated may vary is not always available, especially to countries where we already offer extremely low fees.
10. How much money can I send?
With a foreign exchange broker there is no upper limit, as long as you have confirmed your ID and you are making the transfer via a chaps / bacs / electronic transfer they can confirm where the money has come from to comply with money laundering regulations.