There are various ways to send money to Jamaica, but retirees are likely to want to find one that offers them security and value for money.

While a bank-to-bank transfer will certainly be secure and convenient, you are unlikely to receive a competitive rate of currency exchange.

Furthermore, banks tend to charge per-transfer fees when you send cash abroad. For regular money transfers, for pension instalments for example, these charges will soon add up.

One way to avoid these unnecessary costs is to look into using a regulated foreign exchange broker to send money to Jamaica.

Brokers tend to offer some of the most competitive rates of currency exchange available; however, consumers should be aware that even currency specialists will not offer the headline 'mid-market' exchange rate you might see on a currency calculator.

Despite this, you will save money when you send money to Jamaica through a broker.

Open an online account for free with RationalFX today to find out exactly how much cheaper things could be.