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Types of Money Transfer Categories

why use a currency broker than your bank

Types of Money Transfer Categories? Not all money transfer providers offer the same facilities so choose a company based on the service you require.

Not all money transfer providers offer the same facilities, the majority do cross over in the amount of money they can transfer internationally but it all depends on what company relationships are forged between them,banks, banking institutions and money transfer licensing they hold. In many cases they need to hold a currency trading licence in the country and have a fully trading office in that country with a bank account to buy and sell currency.

Based on popular choice here is a list of reasons why consumers and businesses transfer money overseas either for a one off transaction or regular currency exchange payments.

Buying property overseas is one of the most popular reasons why people transfer money overseas, when it comes to buying property you can get a minimum of 3% better rate which will work out in to the thousands due to property prices.

Managing currency exposure can be a time consuming process so if you dont have time get the currency company to manage your currency exposure.

One off international payments are considered as one of the most popular reasons for businesses and private clients making a transfer internationally see what payment option you have especially if its for a large amount ask for their banking details and pay them direct.

Pay overseas suppliers for importing is extremely common and could make the difference in your business making a profit or loss

Paying deposit on property overseas is in the region of 5% to 10% which is still a lot of money especially as this is the first wave of payments that is needed to be made to complete your transaction, secure a better rate especially for the larger transfer and save money.

Paying employees overseas is important to ensure the payments are on-time and you are getting the best rate as using your bank could encounter delays or transfer costs

Paying for overseas investments could cost thousand if not hundreds of thousands so ensure you are getting the best rate, by monitoring the rate and putting in a stop loss could ensure the market doesn't turn the wrong way for you.

Paying pension overseas could not be any simpler these days where you can book your rate for up to two years in advance and get the payments taken our of your account by direct debt and transferred straight in to your currency choice.

Receive foreign currency for export? Businesses in the export game can get paid in another currency pair so should maximise in profits by speaking to specialist on when to exchange their money.

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