When making international payments, the costs fall into two simple areas: fees and the exchange rate. When shopping around and comparing one company to another, regardless of whether it’s your high street bank or one of the many currency specialists in the UK, it’s important to pin point both.
Fees - the key charges to look out for include transfer charges and overseas bank receiving fees.
Exchange rates - many companies claim to be ‘commission free’ then load the exchange rate. It’s also difficult to get hold of the exact rate and compare it, as some providers simply don’t provide the information.
Getting the most for your money actually boils down to a very simple question…
“How many Euros/ Dollars/ Swiss Francs etc. will I receive for my pounds, after all charges?”
Remember exchange rates often change by the minute, so to compare providers properly you need to do it one after the other.
Fees - the key charges to look out for include transfer charges and overseas bank receiving fees.
Exchange rates - many companies claim to be ‘commission free’ then load the exchange rate. It’s also difficult to get hold of the exact rate and compare it, as some providers simply don’t provide the information.
Getting the most for your money actually boils down to a very simple question…
“How many Euros/ Dollars/ Swiss Francs etc. will I receive for my pounds, after all charges?”
Remember exchange rates often change by the minute, so to compare providers properly you need to do it one after the other.
