The exchange rate is the value of currency, for example Dollars, Euros or Yen, you will receive for the amount of sterling you would like to transfer. Sending My Money services sometimes do not give the exact rate they are offering, this is because they like to provide the rate after deducting any fees and charges for making the Sending My Money, consequently quoting for a complete package. It is therefore critical to make sure you are comparing like for like when seeking the best quote.
Most of the high street banks will offer an international Sending My Money option, you will probably need to have an account with the bank to receive this service. The bank will make the arrangements for you, and you can pay extra for additional services, such as an express service, if you need the transfer to be completed quickly. A bank is more than likely to be the simplest, and safest, option for a single relatively small transfer. Their exchange rates are not the most competitive but it can be a very convenient choice.
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