Top 10 Money Transfer Provider plus Top tips on Currency transfer tips designed to save you money when you transfer money overseas

As you can imagine compare money transfer gets asked many different questions by clients looking to maximise their foreign currency purchase.

With this in mind, we have put together an essential money transfer guide to provide you with a useful insight into how to get the most of your currency broker and the best way to execute your currency exchange.

1 - Don't leave buying your foreign exchange currency to the last minute. Talk to a foreign currency broker as soon as you know you are going to need to purchase currency. That way you will have time to secure the best exchange rate even if it is months away.

2 - Only deal with a currency company which is FCA registered and FCA authorised this way your currency transfers will be safe as money is held in a separate currency account plus where you get a dedicated Currency Dealer. You will build a rapport with them and obtain a better service where, as banks do not have specialised consultants to turn to unless you are a corporate customer.

3 - Some foreign exchange companies charge commission so find out up front what their costs are and whether you will be charged commission on transfers and what are the transfer charges for sending your money abroad, include asking what the receiving banks charge.

4 - Set a realistic budget based on the current market use our foreign exchange historical rate charts to see what the foreign exchange rate has been over the past day - week - month and year to get a better indication of a currency pattern for your money transfer purchase. Your Currency Dealer should explain to you what is happening and the general direction of exchange rates.

5 - Don't get greedy unless you have time on buying your currency, if you have reached your target exchange rate, take it otherwise you could lose out.

6 - If you have future payments to make, and you have reached your target exchange rate, secure your exchange rate with a forward contract.

7 - Try to avoid purchasing currency at the low of the day, the difference can be significant and your currency exchange dealers should help you with this.

8 - Read the latest financial news which can affect the money markets, our news section covers high impact news which will affect a countries currency exchange rate also look at our interbank exchange rate charts if the currency is in green it is climbing and red means it is dropping, then compare these rates to our historical chart to see how this is affecting the currency of your choice.

9 - Always get confirmation from your Foreign Currency Dealer that your monies have been sent and request confirmation once your money has hit its destination, if you are buying a property overseas then request a confirmation email and this can be sent to your solicitor and bank to confirm the purchase of your overseas property.

10 - Finally, don't use your high street bank as it will cost you a significant amount more and they cannot offer specialist guidance.

cmt twitter
Compare money transfer overseas providers that offer regular money transfers plans. Send currency exchange payments on a regular basis overseas. Let See The Benefits To Make Regular Payment Plans…
broker vs banks
The bank exchange rates for sterling shown below are based on today's Interbank rates at Tuesday, 27 September 2011 09:27 AM. Please contact us for current live rates and an…
Do we have an agreement in Greece? Noises yesterday suggested so although no clear announcement has been made. The rumours did cause a slight rally in risky assets yesterday but…
The first trading week of 2012 has begun with a largely positive risk appetite among traders. This follows upbeat manufacturing data from Germany, China, Australia and India. At…
tony nguyen
New data from the Italian Scenari Immobiliari research institute has revealed that second home sales to overseas buyers rose by 14% in 2012. Investors from Russia, the UK, Germany…
are you being ripped off by your bank
Western Union have now expanded their money transfer payment services in Guadalajara to 1100 new Locations in Mexico where Western Union Global Money Transfer Services are now the…
cmt twitter
Consumers know you shouldn’t send money to anyone you don’t know. But when it comes to love and matters of the heart, sometimes logic is thrown out the window in the latest love sca…
are you being ripped off by your bank
Currency Brokers vs High Street Bank Bank Vs Currency Brokers Why use broker instead of bank? You need to have a bank account with the bank and be an existing customer. Exchange…
cmt twitter
The ‘bad bank’ set up as part of Spain’s bailout conditions has been having a rough time in persuading the markets that it would meet the targets set out for it, but now it looks like …

Company Details

World First logo

Get a quick quote

Open Account with World First

World First are located at:
Regent House, 16-18 Lombard Road, , Greater London, SW11 3RB, United Kingdom

Company Location

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not spam you!

Click to Watch the Latest Videos on CMT

Compare Money Transfer Testimonial

Compare Currency Exchange News

All Rights Reserved: Copyright 2006 - 2017 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882 - Email us