Get Help With Smaller International Transfers26 March 2012 09:00am - Currency Exchange Australia
Get Help With Smaller International Transfers
Did you know that money transfer firms can help individuals with their international payments? Many people think that foreign exchange brokers work only with corporate clients or deal solely with large volumes of money. However, money transfer firms are foreign exchange brokers dealing specifically with smaller transactions such as overseas mortgage payments or the transfer of money to friends or relatives abroad.
Dealing with transfers up to around AU $3000, money transfer firms can offer you a more cost effective and efficient service than regular banks. They’ll search the forex market for the best possible rates of exchange and give you the option of ‘fixing’ an exchange rate for a certain period of time if you plan on making regular and ongoing international payments.
Money transfer firms can arrange transfers via the telephone or online, although you may wish to arrange funds to be delivered to a branch for collection. Some firms offer an instant service, whilst others promise to deliver your funds within five working days. Transfer speeds are largely dependent on where you are sending your money, so make sure you enquire about this before planning your transfer.
Money transfer firms generally charge a fee of around $10 for every $1000 although this can vary, so compare firms online for full details. It is also a good idea to check that a firm can deal in the currency you require and deliver to the country of your choice. Finally, you may wish to compare the foreign exchange rates advertised by different firms before making an order.