Looking for a foreign exchange provider?

Compare money transfer only show companies that are approved and working towards the New FSA regulations. we do not show all foreign exchange providers and there are several other companies that operate to the same standard, but we have worked with these companies for many years and the money transfer companies listed exceed customer service requirements.

Why use Compare Money Transfer?

There are a number of websites which tell you you can send your cash across the world for a fraction of the price of a bank transfer, this is not always the case and should look in to the exchange rate and charges they are offering for this service. Over the next two years the money transfer companies are having a major shake up due to the FSA. The FSA are now going to regulate foreign exchange providers.

Why is it important to be FSA approved?

Money transfer companies mostly charge a percentage of your transfer, so are particularly advantageous for smaller sums. These companies are also one of the quickest and most cost-efficient ways to move money around internationally.But if your foreign exchange provider do not have a client account when effectively your money is held in their bank account and your money can be at risk. Over the past several years small money transfer companies have gone in to receivership and sadly peoples hard earned money has been lost.

By the FSA regularing money transfer providers part of the process is to ensure your money is safe at all times so if the company runs in to financial difficulty your money is not affected. Compare Money Transfer can confirm that all providers listed on our site opperate a seperate client account.

Specialist currency brokers

If you need to send large sums of money abroad you should use a specialist foreign exchange broker, which will offer far more competitive rates than your bank. Torfx, for example, handles transfers from as little as £300 and will confirm the rateover the phone and has a competitive rate of exchange in comparison to other brokers, or your bank. Specialist brokers can also offer services if you are buying a house abroad. Others include Moneycorp and Global Currency Exchange Network.

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