Money transfer data throws up intriguing results

Why use a broker instead of a bank

A brand new survey of regions within the UK has thrown up some fascinating connections with areas all over the globe.

The popular British practice of being ‘twinned’ with towns and cities around the world is widespread within the country.

However, this new data which tracked money transfers out of the UK in the first half of this year has demonstrated how diverse Brits have become.

For example, more money is sent to the Dominican Republic from Leicestershire than any other part of the UK.

Even more fascinating is the diverse workforce which Aberdeen attracts as a result of the booming oil trade in the area.

This has led to money being transferred from the Scottish city to areas including Ukraine, China, Thailand and Tanzania.

Unsurprisingly, London and the South East in general are represented as the most culturally diverse regions in the UK.

Due to the widespread immigration to the areas, cash has been reportedly sent overseas by individuals representing more than 70 different nationalities.

Gloucestershire is another county with an unusual claim as it appears that more money was sent from the region to Kenya and South Africa than anywhere else within the UK.

The findings reveal the disparity between the potential to earn significant wages in different parts of the globe, but also hint at just how multicultural British society has become.

Transfer money to the Dominican Republic

If you are looking to invest in the Dominican Republic, think carefully about how you will be transferring money to the Dominican Republic. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to the Dominican Republic – which you will inevitably have to do if you are looking to make a property investment - be sure to compare the market before you buy your overseas currency.

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Money transfer data throws up intriguing results

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