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A low-fee international money transfer service helps unlock more value and secure more savings. First, look for the best exchange rate and low-fee combo.
Individuals and businesses are spoilt for choice when looking for international money transfer providers. However, most options are not ideal because they lack cost-effectiveness, which is a huge pain point. Due to hidden charges, poor exchange rates and expensive fees, transfer costs will be high and not proportional to the amount sent.
To get more foreign currency for your money, it’s essential to look for the best low-fee international money transfer service you can find. The first step is to eliminate banks from your list of options.
When moving money abroad, the plan is to get the maximum amount of foreign currency possible. Unfortunately, this is difficult with banks because once fees and exchange rate markups are taken out of your money, you usually end up with less than expected.
Banks have an assortment of charges for international transfers, such as standard flat fees, admin fees, receiving fees and additional hidden fees, which can take a big bite of your money.
The long-term cost of international bank transfers can be relatively high, especially for smaller and frequent transactions. The best way to avoid them is to find more affordable service that suits your needs.
Consider whether the exchange rate works for you when looking for the best way to send money internationally. That’s because exchange rates have the biggest implications on your money. When combined with low-fees, finding the best exchange rate could save you more, even with a slight percentage point difference.
Based on sheer cost-effectiveness, specialist services are a better option for you than banks. Not only do you get low transfer fees, but with a currency specialist like MTFX, you can enjoy exchange rates that are 3-5% lower than your bank would typically offer. Specialist services also offer various FX tools, such as currency forward contracts to help you take advantage of favorable exchange rates.
As you consider your international money transfer options, you might ask, “Why should I use a specialist service instead of my own bank?” From a cost perspective, the answer is simple. With a specialist service like MTFX, you can benefit from bank-beating rates that are 3-5% lower.
Suppose you send $30,000 overseas, whether once or cumulatively. You can expect to save $1500 at most. The amount will be higher once you factor in savings from low transfer fees. MTFX also offers several distinct advantages. You have access to expert currency exchange advice and guidance, and you can set up your account in a few minutes, so getting started is easy.
Overall, currency specialists promote financial inclusion by removing complexities and steep costs from international money transfers. Instead, you get faster, more convenient, low-cost transfers and the best value for your money.
You can send money overseas online, which is another reason for skipping the bank. With MTFX, access to a secure 24/7 online platform offers a quick and easy way to send money abroad whenever necessary. This online platform is supported by best-in-class technology and can facilitate a wide range of functions.
You can check rates, transfer money quickly and efficiently, and automate your overseas transfers to cut costs. With MTFX’s low-cost money transfer service, you get more than you paid for through the convenience of sending money abroad with just a few button clicks.
Most transfers are delivered within 24-48 hours, but MTFX also offers almost-instant, same-day transfers. With banks, the timescale can take up to five or seven days, and you may have to pay a fast-tracking fee for your money to reach its destination sooner.
Hence, you have more reasons to avoid slow-moving banks and leverage our global network of banking partners to move your money quickly and efficiently. If you’re dealing with payment deadlines, the good news is you can plan ahead and schedule payments in advance.
MTFX offers a low-cost international money transfer service that gets you the most value out of your transactions. You can enjoy the following:
Open an account today with MTFX to enjoy more savings with low-cost transfers and transparent fees.
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