What is an International Money Transfer?

Put simply, international money transfers allow you to send money to a designated recipient whether that be friends, family or businesses overseas. It involves you sending one currency (e.g. GBP) to an intermediary transfer service which then exchanges those funds into a foreign currency (e.g. USD) to then transfer on to your recipient in another country. International payments can be initiated in person, over the phone, through a mobile app or online. The most common method for the recipient to receive the funds is directly into a bank account although certain providers also provide the facility to allow them to collect it in cash or top up a mobile wallet. How much does international money transfer cost? In one way or anoth

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Press Release FCA deadline

As the Financial Conduct Authority’s consultation into the promotion of rates and fees in the money transfer markets nears it’s deadline for comments*, Xompare.com has launched a comparison service using real-time data feeds from market leading money transfer providers. Consumers can now compare ‘actual’ rates available from providers alongside a full breakdown of all fees. David Noble, Founder said, “Regulators have for some time been concerned that consumers are not always in charge of all the facts when

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