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Do you know who offers the Best Exchange Rates on Euros?

why use a currency broker than your bank

‘How much money can I transfer overseas?’ This question does come to mind when you need to send money abroad for business deals and to pay for purchases. At times, you may need to send money to an overseas destination to support a relative or to pay the education fee of a child. If you stay in France, Spain, Norway, Finland, Germany, Greece, or any other country where Euro is in circulation, your primary concern while sending money abroad will be to check the exchange rate for Euros.

Accurate and updated knowledge of foreign exchange rate helps you to know the value that your intended recipient will get overseas. In turn it helps you to determine, how much money can you send overseas.

While sending Euros from Spain to Canada, you need to check a foreign exchange rates comparison table to see who offers the best exchange rates on Euros. Banks foreign exchange rates comparison tables can show a considerable difference in values that two banks offer you for your currency.

Hence while the standard exchange rate for the day might be 1 Euro = 1.31 Canadian Dollar, the actual amount that your recipient will get against 5000 Euros will be 6537.87 Canadian Dollars as per rates offered by one bank, and only 6263.40 according to rates offered by another. In other words, the difference will be:

  • Standard International Rate for 5000 Euros = 6566.88 Canadian Dollars
  • Rate offered by Bank A for 5000 Euros = 6537.87 Canadian Dollars
  • Rate offered by Bank B for 5000 Euros = 6263.40 Canadian Dollars

The difference in rates exists to make up for the fee charged by the banks for money transfer. So if you want to send Euros and still wonder as to ‘how much money can I transfer overseas’, just check who offers the best exchange rates on Euros. To refer to an updated foreign exchange rates comparison table, visit:

sendmoneyhome.co.uk

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