International remittance allows you to send money overseas without many efforts. You can exchange the money online to the desired currency through the available device or just call your money transfer provider. Depending on the provider, you can use cash, debit or credit card to transfer fund you’re your bank account to the recipient’s bank account or mobile wallet. This will charge some percentage of your transfer as fees for the transfer including exchange rates. Type of fund delivery varies from provider to provider. Peruse the details by comparing the traits of various international money transfer providers. Different aspects to be considered while comparing will give value to your hard earned money.
1. Get the best exchange rates- Converting your money to the target currency may incur charges as it determines the value of country’s currency. There are various factors that influence exchange rates, which include interest rates, economic stability and inflation. Although providers decide their exchange rates based on market scenarios, they offer most competitive rates that could save big bucks during multiple transactions. Some of the providers charges less fees, while others charge no fees. Compare the total cost of your transfer with different money transfer firms and get the best deal.
2. Minimal fee transfers- Money transfer companies charge a fee for making the transfer. Fees depend on the transfer methods that you need to choose. Generally, the charges are as low as 1% of your transfer amount. The best way to find out the best provider who charges less is to compare their fees and also keep an eye on their special deals. But the lower exchange rates can translate to big savings only if the exchange rates are equally competitive.
3. Finding best transfer options-
OFX and World First are among the few transfer services that offer low exchange rates and no fees. There are many ways to compare the available options, but WorldRemit , Western Union, MoneyGram and Ria are recommended ones. Finder.com is the best online portal on which you can rely for International money transfer comparison. All you need to do is, enter the amount that you wish to transfer in the currency transfer calculator, and get a quick review and rating of different service providers. There are no fees for transferring money if you are a finder.com customer and also get weekly updates on market exchange rates.
Final verdict- Bank- to bank transfers is typically safe and convenient. It can be the cheapest option too, if you consider comparing the service providers before making a decision in haste. It takes hardly few minutes to get the best recommendations on sites like finder.com.
For example, if you wish to send money to Finland, try to compare first before paying higher exchange rates. There are countless options for money remittance to Finland, but cost behind the transfer, or the currency options that are available with respective providers are few vital points to ponder. This helps you in making the best decision before picking the right option.