The Best Way to Pay for a Destination Wedding
The best way to pay for a destination wedding is via an online money transfer specialist. For example, with MTFX, you can enjoy your big day abroad without big unnecessary costs.
Destination weddings are a popular, appealing choice for a good reason. For starters, a faraway wedding can be the stuff of fairytales. After all, it's easy to plan the perfect wedding when you have a range of stunning, romantic locations to choose from.
A destination wedding can also save costs if you combine a smaller guest list with an affordable wedding package. The good news is you can unlock additional benefits and save time, hassle, and more money by taking advantage of the best way to pay for a destination wedding.
What's the Best Way to Pay for a Destination Wedding?
The most common payment options for a destination wedding are using your credit card or a money transfer service. Credit cards are great if you have a card with 0% interest on purchases, but some vendors only accept transfers to their bank accounts. This is normal with large transactions as the vendor may want to protect themselves from credit card fraud.
Even if the vendor accepts credit card payments, you may face hefty foreign transaction fees. A better alternative is to find a trusted company that offers the cheapest and safest way to send money internationally. Unfortunately, this won't be your bank because banks are usually the most expensive transfer providers.
An online money transfer specialist is typically the best option. You can save as many dollars as possible in terms of fees and exchange rates while making sure the money gets to your vendors correctly and safely. In addition, sending money abroad online is quick and easy, saving you time and a lot of hassle. If you use MTFX, you can pay for a wedding planner, accommodation, venue fees, and more anytime, anywhere, in a few clicks.
Why Do Exchange Rates Matter When Paying for a Destination Wedding?
When transferring thousands internationally, it's essential to protect your spending from exchange rate markups and fluctuations. The exchange rate matters because it's one of the most significant factors affecting the cost of your transfers. For instance, if you're getting married in Europe, a $25,000 budget (CAD) can get you 17,000 euros at an exchange rate of 0.68. But if the rate drops to 0.64, you get 16,000 euros – a big difference.
The first solution to the problem of exchange rate markups is to avoid banks since they add a margin on top of the real, mid-market rate. Instead, use a currency transfer specialist like MTFX that offers the real exchange rate with no hidden fees. Specialist providers offer more than friendly service. They're also transparent about their fees, so there are no surprises.
The second solution to the problem of exchange rate fluctuations is to use foreign exchange tools, such as forward contracts to lock in a desirable exchange rate for a long time. That way, you can protect your budget and save hundreds or thousands should the exchange rate move against you before your big day.
10 Tips to Save Money on a Destination Wedding
A dedicated money transfer service helps you avoid unnecessary fees and unpredictable currency fluctuations. Here are 10 more tips to save money and have a dream destination wedding without breaking the bank.
Choose an all-inclusive destination wedding package. These often include key elements, such as venue, decor, and honeymoon, in one bundled, affordable price.
Work with a local wedding planner. The extra expense may be worth it because the right professional can negotiate better prices and provide insider tips to help you save money.
Hire local professionals. Bringing in your florist, hairstylist, or makeup person will increase travel and lodging expenses. Instead, hire nearby professionals and local vendors, but verify their reputation first.
Get married in the off-season. There's less demand for vendors and venues during the off-season (usually winter) compared to the wedding peak season. So, prices tend to be dramatically lower.
Hunt for shopping deals. Turn into a savvy shopper by starting early. Look for great deals on smaller purchases, such as accessories, favours, and gifts.
Choose a more accessible wedding venue. A destination wedding itself may be inexpensive, but flights, visa fees, and transportation can add up. You can minimize these costs by choosing a venue that's easier and cheaper to arrive at.
Consider tax rates. For example, some countries have high VAT rates, meaning the final price is often higher than the quoted price. Research foreign taxes and choose locations with better tax rates.
Invest in insurance. Taking out wedding, health, and travelling insurance can protect you from unexpected expenses. It's best to plan for emergencies like cancelling your wedding due to bad weather, losing your baggage, or getting injured abroad.
Downsize your guest list. A smaller guest list allows you to enjoy a more intimate affair with significantly lower costs.
Explore more money-saving hacks. The list includes getting married in advance to save on legal fees, driving instead of flying, and asking your guests to cover their own travel expenses and lodgings.
Best Places for a Destination Wedding
Here are some of the best places for a destination wedding from sources across the web to inspire you.
Italy is a romantic paradise with plenty of majestic backdrops. The best wedding regions include Puglia, Tuscany, Florence, and Rome.
Mexico offers the sun, sand, and sea in a cost-effective package. Popular locations are Cancun, Tulum, Playa Del Carmen, and Cabo San Lucas.
The Caribbean is a treasure trove of breathtaking wedding spots and five-star beach resorts. You can have an exotic wedding in Jamaica, Dominican Republic, The Bahamas, St. Lucia, Aruba, or Barbados.
The United States is an easy pick for a destination wedding as it's next door to Canada. Many couples choose to get married in places like Las Vegas, New York City, Hawaii, and Florida.
MTFX lets you transfer large sums of money internationally in many major and exotic currencies to hundreds of destinations. So, don't let this list limit you. When it comes to destination weddings, the world is your oyster – from Costa Rica, Thailand, and Greece to France, Spain, and The Maldives, with more options in between.
Pay for Your Destination Wedding Online Today
You can pay for your dream destination wedding online, with speed and ease, whether that involves tropical islands, stunning mountain ranges, or enchanting green landscapes on the other side of the world.
MTFX offers competitive exchange rates and low fees to help you save money and hassle, so your destination wedding is worth travelling for. You can open your online, secure account in minutes, get expert, personalized guidance, and make one-off or regular transfers 24/7 – all without a foreign bank account.
Open an account today to pay for your destination wedding with MTFX and make the most of your money and your big day.
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