![]() Look for companies that give you that extra touch of reassurance, such as making a person to person call to inform you when your money has been transferred and who can be easily reached online or over the phone to answer any questions.īelieve it or not, your major bank can sometimes be a source for a good deal on a foreign exchange transfer. Find out how the company will keep your funds and your personal information secure. It never hurts to err on the side of caution. This protects your money in the event that the company runs into any difficulties. It is essential only to work with companies that are recognized and regulated by local financial authorities. To be on the safe side, find out up front how much of the other currency you will be getting for your home currency. If you are transferring less than that amount then you may face higher exchange rates. Some companies will offer a more beneficial rate for sums that exceed a certain amount. It is important to bear in mind that while some companies do not charge commissions, they may compensate for this by building in a margin in the exchange rate offered. Even with a reputable company offering what seems to be a competitive rate, there may be extra charges such as high commission fees. When evaluating different rates for currency conversion and money transfer, many make the mistake of only paying attention to the exchange rate. You will be exposed to a diversity of options as well as the fact that many of the major transfer operators and currency exchange institutions offer online services which include attractive offers, such as free home delivery of cash you may have converted for international travel. When you want to find currency exchange deals, your best option is to go online. You could then do an exchange rate comparison on the comparison site to see how the available options measure up. You should always stay informed as to what the current rate is so that you will know what constitutes a good buying or selling rate when it comes time to trade. This is important even before the need arises for you to make a trade from one currency to another. It helps to be aware of the current exchange rate of your home currency. If you are searching for the best rates for your fx transfer the following tips may prove helpful. A good place to start is with a comparison site, like, through which you can navigate the myriad of international money transfer companies that are out there. However, you do not need to be a sector expert in order to benefit from currency exchange deals. Handling a foreign exchange (forex) transaction can be a daunting venture, especially in light of the ever-fluctuating values of currencies, which are influenced by a number of hard-to-predict factors. USFOREX US division of OzForex Group AUD$9.1bn traded in 2013.WORLDFIRST Award-winning service, best rate guarantee 24/7 platform.MONEYCORP Largest UK forex provider with 35 years experience.CURRENCIES DIRECT 18 years experience.TORFX Excellent rates and free transfers on all transactions.While OFX is part of the Australian Securities and Investments Commission and is listed on the Australian Exchange Market, WorldFirst is backed-up by FCA and FINTRAC, while also being regulated by ASIC and by the Monetary Authority of Singapore. If you use this service, you can send and receive payments using matching currency accounts, so you don’t have to worry about paying extra conversion fees.Īs a very important component of user experience, security is very important for both of these companies. On the other hand, WorldFirst allows users to quickly integrate their services with XERO. However, because OFX is an Australian-based company, it comes with certain perks for Aussies, allowing them to pay via BPAY. However, WorldFirst comes with a slight edge here, as they also enable access to their site to users from China, Japan, France, and many other countries, who want to use their own languages.īasically, OFX only comes only in English, while WorldFirst comes in a wide range of languages. You need to register an account in a few simple steps and then you’ll be able to quickly send money online. ![]() When it comes to using their services, most companies are quite similar.
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