Money Transfer Tips

If you need to send money internationally, keeping these helpful tips in mind can help you save money!

Watch Out for Exchange Rate Fees
Many money transfer companies make money by providing less-than-favorable exchange rates. Furthermore, they can make it difficult for you to even see the actual exchange rate they convert your dollars from into the local currency. Make sure you understand the exchange rates at the time of your transaction.

Shop the Competition
The market for money transfer companies is not only massive, but incredibly competitive as well. Shop the competition extensively to ensure you’re getting the best rates.

International Bank Transfers
An international bank transfer can be made from one individual’s (or entity’s) bank account to another bank account. Not only are international bank transfers one of the most convenient ways to send money, but it’s also one of the most secure – especially if you are sending a large amount of money (more than $1000).

Take Your Time
Unless you need to transfer funds immediately due to an emergency, wait a few days for the money to become available to the recipient; otherwise, you could be subject to exorbitant fees for immediate money transfers.