Finance Blog


Sending Money Abroad and Ways You Can Save Yourself Some Money

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There are many reasons why you might want to send money abroad. Maybe you have family in another country which you need to take care of, or maybe you have a business which makes regular transactions overseas. Then there is even the possibility that you have a property abroad and need to make regular payments for mortgages or bills.

Regardless of the reason money transfer services are becoming the easy way to make cheap currency transactions. In the past most people would simply opt to use their bank, but let it be known that this is by far the most expensive way to send money. Bank charges are huge, and usually the exchange rate they offer you is very poor.

This is why people are using dedicated services that specialize in currency exchange. These companies will often give you an unbeatable exchange rate, very close to the actual market rate. In addition you will often get to make the transaction without any fees or commissions at all. How does that sound?

It all adds up. Even a simple quarter percent saved on the exchange rate can add up to a tremendous saving when you are sending large sums of money abroad. Even if it is small amounts, but you are sending them regularly it will begin to add up over time. A monthly payment for a mortgage can end up saving hundreds over a period of a year, by just beating the banks at their own game.

Banks are convenient. They are easy to access and people already have their account set up, so often they just opt to use them. But for the sake of spending 5 minutes setting up an account at a specialist currency service you could save thousands, easily.

So next time you are sending a money transfer, take 5 minutes to search Google and find a reputable service, they are easy to use, trusted and will save you a whole ton of money over the long term. There are literally hundreds online to choose from, so you will find one easy. What have you got to lose?

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