Whatever your reason for sending money to Libya, Compare Money Transfer will make your currency transfer as straight forward and cost effective as possible.
Currency for Libya
The Libyan Dinar (LYD) is now the official currency of Libya.
Send Money Transfer to Libya
Money transfer to Libya will not be a problem if you manage to find the most cost efficient and reliable medium through which you can send money to Libya. The only currency transfer service providers who were earlier available were the high street banks. However, there are hundreds of foreign exchange brokers available now, who will be able to offer best currency exchange services at affordable rates.
Using high street banks to send money to Libya is not only expensive but is also time consuming. As the process that is involved in sending money to Libya is too complicated, the time taken is also too high. This will certainly be a problem when you wish to send money to Libya for some urgent need.
However, the process is very simple and straight when you use currency transfer services offered by foreign exchange brokers. Moreover, they have several experts who will be able to guide you in every step of the process making the process even more simple.
The cost incurred to send money to Libya through high street banks and through foreign exchange brokers also varies. Foreign exchange brokers charge a very nominal flat fee to send money to Libya. However, high street banks will be charging a huge transaction fee and additionally, the commission along with other hidden charges. This will sum up to a huge amount that will be many times higher than the transaction fee charged by foreign exchange brokers.
The exchange rate that you will get is also very good when you deal with foreign exchange brokers as they pay good exchange rates. The exchange rate that is offered by high street banks is much lesser as they exchange currency only for retail rates. Foreign exchange brokers will be able to exchange currency for commercial rates that will benefit you more when you send huge amount of money.
Even if you are not sending a huge amount of money, it will still be a loss to pay more when you know that will be receiving very less amount in return.
High street banks are very big networks who offer several services other than currency transfer services. This is one of the main reason why they are unable to attend to all the services on time or perfectly.
Also, they do not specialize in money transfer to Libya and offering consultation about the currency trend will not be possible for them. However, when you use foreign exchange brokers to send money to Libya, you can check with them on various options to send money to Libya that will be more beneficial. Based on their expertise, they will even be able to suggest on the best time to send money to Libya.
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