Money Transfers Abroad | First Transfer Free
Here we will give you two options for Money Transfers Abroad: Transferwise and Currencies Direct.
Transferwise provide your first transfer for free, but Currencies direct seem to be faster and have more options for money transfers abroad.
For many years, the only way to safely travel abroad with money was with traveller’s checks. But, as ATM’s have become more interconnected and wide spread, most people now use ATM cards.
But, banks charge very high fees. Normally, they make money on the exchange rate fees, a card fee and sometimes there is an extra ATM fee on top.
You can now transfer money abroad at the same speed as the banks and cut your fees by signing up with a currency transfer specialist. Your money can now be sent internationally at a fraction of the cost.
But, you will also need an existing local bank to send money to. For example, if have a local bank in the UK and a local bank account in Spain, you can use a currency specialist, such as Transferwise, to lower costs for money transfers abroad.
Transferwise is a currency transfer specialist, a middle man between two bank accounts to reduce fees when sending money abroad.
“Transferwise is one of the best ways for money transfers abroad that we have found to lower costs and hassle is kept to a minimum.”
If you are moving money from GBP to EUR in Europe or from GBP to a USD account in the USA or vice versa, then Transferwise is an online money payment system where you can sign up with Facebook and start transferring money abroad quickly.
If you are tired of paying high exchange rate fees from your local banks, high ATM fees and high credit card fees, VirginMoney’s Transferwise is a better, low cost option for money transfers abroad.
It is a little slow, as it takes between 2 and 5 days, but it is much cheaper than bank rates and you can sign up easily via Facebook, Twitter or email.
Sign Up Today and Transfer Your First £500 Abroad for Free
Click here to try out Transferwise – money transfers abroad at a lower cost.
Money Transfers Abroad – Faster Option
Transferwise is not the fastest way to move money around and if you are in other areas of the world, such as Asia or Latin America and want to transfer from GBP to USD, it cannot be done with Transferwise, as they only allow USD to be sent to US banks.
In this case, Currencies Direct, who we use regularly are a much better and quicker option for money transfers abroad.
Latest Exchange Rates for Transferring Money Abroad
We have been using Currencies Direct for most of our money transfers abroad.
We have found them to be faster than Transferwise and simple to set up.
You can check out the latest exchange rates and currency converter below.
Please click here to set up a Currencies Direct account. It only takes a few minutes.
We can help you with money transfers abroad as well as other tax & financial matters.
If you have any questions or need help with setting up an international currency transfer specialist account, please email us.