A family member needs you to transfer money to Lithuania as they are in financial difficulty. How do you do it? It could be something that you need to do urgently now or maybe something that may unexpectedly crop up in the future.
Knowing the best method to rely on is in your best financial interest for you and your recipient. This is because the different transfer options available to you carry different costs. Deciding on what is the best option to take means having a look at what each one has to offer.
Going to your bank is a logical first option. They can offer you the service to transfer from your account to an account in Lithuania such as in SEB Vilniaus Bankas.
Being an account holder there seems little need to go anywhere else to do your transfer. However, by transferring money to Lithuania via your bank you will be charged a bank transfer fee. This is to the addition of incurring some loss due to an uncompetitive exchange rate from what the bank has to offer. The costs accumulated here means it is worth looking at another option to transfer money to Lithuania.
Money sending bureaus are another convenient money transfer option available to you. If your bank is closed this is the next stop to make an urgent payment as they have long opening hours. They operate on being able to transfer money quickly but for high prices. They will charge you around 10-15% transfer fee as well as giving you an extremely poor rate of currency exchange. This option is really for transfers when no other alternative can be found as it is particularly costly option to take.
Foreign exchange brokers are rapidly becoming the ideal option to making your money transfers. They charge low fees for doing your transfers to Lithuania and offer very competitive rates of exchange.
RationalFX are a FSA regulated foreign exchange broker that can make transferring money to Lithuania efficient and less costly. We are experts at foreign exchange rates and can provide guidance to your currency exchange needs.
With our secure online payments service you can make your payments at your convenience, and with the ability to track all your transfers you know your transfers will get to Lithuania safely and in a timely fashion.
Register with us now! To take advantage of better rates, low transfer fees and efficient service.