Money Transfer Companies Cheaper than the Banks when sending money overseas

Australian banks are charging their customers up to five times more than international money transfer companies to send money overseas.

International Money Transfers are big business but property buyers, expats, and small businesses can also save money on international money transfers by doing their research and the best way to do that is by using a money transfer comparison website.
 

What is a money transfer company?

A money transfer company specialises in money and currency transfers for both individuals and businesses. Their rates for providing this service are cheaper than the banks and there are no hidden fees, so you’ll know upfront how much it will cost for the international money transfer.

Why it’s best to use a money transfer comparison site

Money transfer comparison sites review, rate, and compare international money transfer companies to give you the cheapest option for sending money overseas. If this is your first sending money overseas, the process for international money transfers can be quite complicated, so these sites make it easier to understand the process by explaining every step involved in sending your money to a recipient safely and cheaply.

In addition to providing you with the cheapest option for sending money overseas, money transfer comparison sites only direct you to legitimate foreign exchange (FX) companies. Unfortunately, not all FX brokers can be trusted with your money and there are FX scammers out there ready to take your money. Money transfer comparison sites like MoneyTransferComparison.com only recommend licensed and trusted FX brokers so you can be sure that your money is safe in their hands.

The best money transfer comparison platforms also provide comprehensive information about sending money overseas. The whole process is explained in detail so you’ll know exactly how it works and what you can expect from your choice of FX broker:

Step 1: Choose an FX company on the money transfer comparison website.

Step 2: Complete an application form including your name, address and provide an ID check. Several checks are made during the application process including anti-money laundering and some companies reserve the right to conduct a credit check.

Step 3: Either via phone, internet or mobile app, select the amount of money you would like to exchange for the currency you need.

On MoneyTransferComparison.com you’ll also find additional features such as: International Money Transfer Fee Calculator; today’s exchange rates; economic news; an economic calendar; and a currency and banking learning centre.

Best Way to Transfer Money from Australia or New Zeland

If you’ve never transferred money overseas before, you won’t know where to turn. As previously mentioned, the banks are not the most cost effective way to send money to a recipient overseas. Using an FX broker is more cost effective but did you know there are more choices for Aussies and Kiwis than just Western Union? According to MoneyTransferComparison.com – which has been featured on news.com.au – OFX is highly recommended because they are a Publicly Traded Company in Australia, have offices in Sydney and Auckland, and OFX are experts in outbound Australian Transfers. Read the Full OFX review on the website.