Technology makes our life easier, and there is no difference in the international money transfer market. The massive change in this industry is that people are slowly moving from conventional banking methods to specialised money transfer companies such as Global Exchange. Due to immigration and borderless trade deals, international money transfer has increased over the past few years. Due to this high demand for international money exchange, there are many service providers offering international money transfer services to their large array of international customers.
Regardless of the industry trend, here are some customers still going to conventional banks because they trust them when compared to money transfer companies. In this article going to explain and explore the things, you need to look for when deciding the most secure money transfer company for your international payments.
Highstreet Banks Vs Specialised Money transfer companies
Highstreet banks used to be the most commonly used method to transfer money internationally, for many years it was the high secure method of sending money online. The past few years consumers are using specialised money transfer companies and the main driving force for this trend change is the cost involved with conventional banks. One other main advantage with specialised money transfer companies is that banks take a long time (Around 7 days) to send money to Asian countries, whereas specialised money transfer companies would only take a day or two to transfer money. With Global Exchange fast money transfer service you can do a next day money transfer to Sri Lanka.
When you’ve considered your options to transfer money abroad you will know that money transfer companies provide additional services such as money pick-up services or extra forms of online money exchanging.
Select Service Providers with a Recognised Manifestation
You must always go for FCA authorised money transfer companies that offer high security against any fraud or loss caused by unidentified agents or third parties. If you’re trying to gauge if a service provider is genuine or not, look at aspects such as whether they have a recognised physical office, their social media pages and how active it is, and client review on various review websites including Google Reviews.
Global Exchange is FCA authorised and also recognised by HMRC to do money services business.
Money Exchange Rates
There some specialised money transfer companies that might have a static exchange rate, so you must be conscious of the market exchange rates to take an informed money exchange transaction. Most of the money exchange companies follow the market rates to offer a more competitive rate, in this case, you are better off setting a notification reminder for your preferred rate for a specific currency. For example, if you want to know when a British Pound would reach 90 indin rupees, you can set up a reminder and quickly make the transaction as soon as currency reaches that rate.
Global Exchange always offers best exchange rates to Sri Lanka, India, Philippines and Nepal.
Do not wait until the last moment
All money transfer companies have a fast money transfer service, but it is usually t a low exchange rate or at a higher transaction fee. So always you will be losing money in quick money transfer services. It is a good idea to plan ahead and make your international transactions as early as possible.
Years Doing Business
How many years they are doing the business is one important factor when selecting the best money transfer company. The longer a company is doing this money transfer service the more partnerships it can build with the local financial institutions and offer better rates and good service.
Just Avoid on Unnecessary Disbursement
Most of the money transfer companies charge extra when you try to make the money transfer payments through your credit card, so it always a good idea to reduce the use of a credit card and use other forms of payment such as debit cards and online money transfer.
Considering all these tips Global Exchange always comes on top, offering the best rates to most of the countries it services, approved by relevant bodies and most importantly in the business for around 25 years, with around four physical locations in London. When you try to make an online transfer with Global Exchange you can be sure that you will be getting the best rate for that country.