MTFX Encourages Canadians to Skip the Bank and Save Big on International Money Transfers

MTFX Encourages Canadians to Skip the Bank and Save Big on International Money Transfers
Last Updated: 13 Sep 2022

Sending money internationally via your bank can be costly. MTFX invites Canadians to seek the shelter of competitive exchange rates, low transfer fees and reduced conversion costs.

For Canadians wanting to send money abroad, it’s best to realize from the start that banks are significantly pricier and remove this option from consideration. Fortunately, more and more people are discovering that the cheapest way to transfer money internationally is via a currency specialist like MTFX. 

Today, the world is increasingly becoming global, opening up many opportunities for Canadians. Hence, there are abundant reasons for moving money overseas – from paying for a destination wedding or studies to sending money to family, friends and suppliers. As a result, the need for cost-effective international money transfer alternatives is more pressing than ever. 

So, how can MTFX help Canadians keep costs down when sending money overseas? Let’s count the ways.

Enjoy incredibly low exchange rates

Exchange rates matter hugely when sending money in foreign currency overseas. The goal is to minimize the difference between what you send and what your recipient gets. Sadly, most banks don’t allow you to do this because they offer exchange rates that are far from competitive. This lessens the value of your money as it converts from one currency to another.

In contrast, MTFX offers exchange rates 3-5% lower than you would get at the bank. We provide better value because our exchange rates are based on the interbank market rate. Additionally, we move large volumes of currency, allowing us to pass savings to our clients easily. So, you don’t have to stick with banks out of a lack of better options – not when MTFX provides more cost-effective and convenient money transfers.

Get better value with low transfer fees

Exchange rates are not the only thing to watch out for. Administrative costs also come into play, and most banks are not shy about passing these costs to clients. Some banks might not charge a transfer or service fee outright, but the difference is the same. The costs are usually bundled into the higher exchange rate charges, or there may be additional, opaque charges throughout the transaction.

If you want to save money, avoid using your bank as the default option. Our low transfer fees and transparency will add more financial sense to your transactions. Remember, MTFX offers services to businesses and individuals alike. Therefore, you can benefit whether you’re looking to maximize your bottom line or fatten your piggy bank.

Save time with online money transfers

Time is money and MTFX offers the best of both worlds with online transfers that allow you to send money internationally without going to the bank. You can complete various transactions using your device anywhere, anytime. The best thing is, your money transfers are not confined to banking hours.

Don’t have an MTFX account yet? Opening one takes as little as five minutes, which is the perfect kickstart to your time savings. Once you complete the process, you’re all set to initiate your first transfer. Whether you’re making a real estate transaction or supporting expat family and friends, using your MTFX account makes the whole process more efficient and helps your money move faster. 

Manage your money better with a multi-currency account

Once you register your own multi-currency account, you can send money worldwide in 50+ currencies to more than 200 countries. Think of your multi-currency account as a global checking account that lets you manage different currencies in one place without the hassle and cost of opening and managing multiple foreign bank accounts.

This is a fantastic option for businesses that want to make customer lives easier by accepting payments in different currencies. Moreover, a business account that lets you send, receive and hold multiple currencies reduces currency conversions whenever you pay overseas suppliers or staff. The savings add up substantially if you make regular transactions to or with parties abroad.

Prevent future loss with customized solutions

Sending money can be nerve-wracking if you pay too much attention to market fluctuations. Thankfully, we keep a constant eye on the market, so you don’t have to. Our in-depth understanding of the market gives you better control and visibility of your funds.

You also have access to a helpful array of FX tools. For instance, automatic currency exchange rate alerts keep you informed when rates become more favorable. And you can use MTFX’s live rate currency calculator to ensure transparency and help you decide whether to convert or hold foreign currency funds for future use.

Businesses can also use forward contracts for future exchanges to lock in the desired rate and protect against foreign exchange risks.

How much can you save using MTFX vs. the bank?

Undoubtedly, Canadians can save a lot by skipping the bank and using MTFX. But, how solid are these savings if we’re talking real numbers? The good news is everyone gets to save, with personal clients saving hundreds of dollars per transfer. Things get more impressive with savings for larger transfers running into the thousands.

As stated, MTFX’s exchange rates are 3-5% better than banks. This means you can save up to $1,000 for every $20,000. The more you send, the more you save. The savings are compounded when you factor in the low transfer fees and access to FX tools that help protect against fluctuations in the foreign currency market. To find out how much you can save on your next transfer, open your MTFX account today and be pleasantly surprised at how much more money you get to keep.

Save time and money with MTFX global payment solutions

Send money and save money with MTFX’s international transfer service

From start to finish, MTFX’s service is designed to offer the best value for your money. Here’s a comprehensive recap of how Canadians stand to benefit more by skipping the bank and turning to MTFX’s international transfer service.

  • Competitive exchange rates you can bank on
  • Low transfer fees and no hidden charges
  • Secure and easy-to-use online platform with automated technologies to streamline transfers
  • Efficient currency risk management to minimize losses
  • Assistance from MTFX’s team of experts for value-added service
  • Fast delivery of 1-2 days

With MTFX, you get a package deal that lets you save on many things. You save time, money, effort, and a lot of hassle. 

Register your account with MTFX today to enjoy bank beating rates and exciting savings. You only need 5 minutes to get started.

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