Things to know about currency transfer services…
Whether you know how to transfer money abroad, and you make regular payments abroad or this is your first-time using a money transfer service, it is always a challenge to find the cheapest money transfer service. International currency transfers shouldn't have to be complicated, and that's why we are here. Xompare helps you compare money transfer rates and transfer money online with just a few clicks.
But first, we have some important information below, for first timers and pro’s alike.
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) and then transfers this money on to your recipient in another country.
You can transfer money online, in person, over the phone, or through a mobile app. Read more.
How to Find the Cheapest Way to Send Money Abroad
If you’re looking for a good deal on your currency transfer, then a favourable exchange rate is crucial - especially if you are transferring a large amount. Comparing transfer rates is widely understood to refer to these differing exchange rates, however, to effectively compare transfer rates you also have to consider any currency transfer fees. Many money transfer services charge fees, which can turn what seems like a great exchange rate into something less satisfactory.
So, what are the most important factors to consider before you transfer your money online? Read more.
FCA Deadline Looms Over Money Transfer Industry
As the Financial Conduct Authority’s consultation into the promotion of rates and fees in the currency transfer markets nears its deadline for comments, Xompare.com has launched a currency transfer comparison service using real-time data feeds from market leading money transfer services.Consumers can now compare ‘actual’ foreign exchange rates available from select providers and all fees incurred during their currency transfer.
But what makes Xompare different from other money transfer comparison sites? Read more.