Using a currency exchange comparison website could be the difference to saving you or your business thousands of pounds. On an average test a consumer buying a property abroad for 350,000 euros could be losing out on 3% to 5% more currency as these are the Foreign Currency Exchange brokers provide their service for private individuals who need to do a money transfer internationally for transactions over £5000. The main bulk of payments done for consumers are people paying for an overseas property or expats moving overseas. The other part of their business is businesses looking at transferring money on a regular basis internationally. Their clients range from sole traders to medium businesses to corporate companies transferring thousands to millions per day.
Using money transfer comparison service will save your business money if you are paying suppliers, importing or exporting goods or even paying your staff abroad. Using a money transfer broker is essentially transferring your funds to a broker instead of using your bank but with the benefits of better foreign exchange rates and usually no commission free.
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