If you are planning on sending money abroad in the future, you shouldn’t rush into the process. There are various factors that can affect the length of time a money transfer takes, how much it costs and the level of service you receive. Before you choose a money transfer specialist and transfer money abroad, there are certain things you should think about.
Making a foreign money transfer can be extremely complicated and will require the expertise of a money transfer specialist. Before you decide on the company who will undertake your money transfer, make sure that they are authorised by the Financial Conduct Authority (FCA). Companies who are regulated by the FCA have to adhere to strict guidelines and regulations. This will guarantee that your money will be safe and protected during the transfer process.
You should aim to make your transfer when the foreign exchange rates are good. Making a transfer with a poor exchange rate could actually lose you money. A good currency broker will always offer competitive exchange rates and have the knowledge and experience to know when the best time will be to make your money transfer.
You should always have confidence in the currency broker that you use. Talk to them before you commit to help you decide if they will be suitable for your needs. A good broker will also be willing to offer you specialist advice and guidance during the money transfer process, helping you have confidence in every stage.