How to transfer money abroad is a debate that is likely to crop up for a number of people. Perhaps you need to transfer your pension overseas, send regular mortgage payments abroad or wire your wages back to your country of origin.
Your reason for sending money abroad is going to determine the best option to make the payments and, as such, it will certainly pay to research how to transfer money abroad.
Your first stop might be your local high street bank. This certainly has the benefit of convenience, allowing consumers to set up transfers abroad on a regular basis with just one phone call or visit.
However, the costs involve can detract from this. You are likely to be hit with high per-transfer fees if you send money abroad with a bank. Coupled with the poor currency exchange rate generally on offer, you can see the amount of money you actually manage to transfer quickly dwindle.
Secondly, you might want to think about using a Money Sending Bureau to transfer money abroad.
You may have noticed these establishments on the high street but while they are easy to find, they tend to be small and poorly regulated. You can transfer money abroad this way, but expect uncompetitive currency exchange rates and high per-transfer fees of between ten and 15 per cent.
Finally, you can transfer money abroad with a foreign exchange broker like RationalFX. RationalFX charge low fees when you transfer money abroad. Furthermore, you will receive a very competitive currency exchange rate on your transaction.
Why not open an online account with RationalFX today and compare the currency exchange rates available to you today?