Whatever your reason for sending money to Ethiopia, Compare Money Transfer will make your currency transfer as straight forward and cost effective as possible.
Currency for Ethiopia
The Birr (ETB) is the official currency of Ethiopia which is divided into 100 Cents.
Send Money Transfer to Ethiopia
When you send money to Ethiopia, you will have to be sure that you are using the safest and beneficial modes of money transfer. This confirmation is important, as you will be sending huge amount of money to Ethiopia through unknown resources.
The resource that you use to send money to Ethiopia should not only be reliable but should also be offering interesting beneficial features that will help you. High street banks are the main source of money transfer that majority of the people who do money transfer to Ethiopia use.
The main reason why they use high street banks is not that high street banks are the best but that they are not aware of other options that are available to send money to Ethiopia. By doing this and avoiding the initial research that they will have to do, they are not saving time but are wasting a lot of money and time by using high street banks to send money to Ethiopia.
There are hundreds of foreign exchange brokers who offer high quality currency exchange services at affordable rates. Yes, you may have to do some initial research to find the right foreign exchange broker but this research will just be a one-time process after which you can continuously use the foreign exchange broker you select for years. To make your search even simpler, we have a huge list of foreign exchange brokers in our website. You will be able to find all related details and the rates that different foreign exchange brokers offer all in one place.
This will make your search process easy and help you in making a better decision. By doing this just the first time, you will save a lot of money and time and open all options to benefit from the best currency transfer services offered by foreign exchange brokers. The transaction fee that is charged by high street banks is much higher as they will be preparing a huge bill that will include a transaction fee, commission and other bank charges that might be applicable. This will together sum up as a huge figure and will certainly be much higher than the flat fee that is charged by foreign exchange brokers.
The exchange rate that is offered by foreign exchange brokers is very high when compared with high street banks. The main line of business for foreign exchange brokers is currency exchange and they often send huge amount of money to Ethiopia. Therefore, they exchange currency for wholesale rates and are able to offer their customers commercial exchange rates.
However, this does not happen when you hire high street banks to send money to Ethiopia. As they offer several other services, they exchange currency only for retail rates, they offer very less exchange rate for their customers, and that will be a loss for the customers.
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