Currency Transfers

If you have a large amount of money you need to send abroad this step-by-step guide will explain the process, the costs, and the risks so you can make an informed decision on the best way to send and receive your money. I’ve been involved in large currency transfers for about twenty years. As both […]

A user has asked: If I want to hold a large Euro sum before transferring to GBP what is the best way to manage this? A Euro bank account in an established bank? If so any thoughts on best bank? The main thing to consider here is what’s “called counter-party risk”. That being is the

In our guide to comparing exchange rates, I will explain how to get the best exchange rate when you convert one currency to another and then send it abroad. I’ve been in the industry for 20 years and have been both a currency broker and a customer sending money abroad. Here are my inside tips

A reader asked: I want to send US dollars from a sterling bank account. How do I get to the best rate when transferring a large amount of pound sterling to a U.S. dollar account? When it comes to finding the best deal on sending currency, as with most things, it is a good idea

The cheapest way to receive large amounts of money from abroad is is to use a currency broker. Follow these steps to ensure you get the best exchange rate when receiving foreign currency. Open an account with a currency broker like OFX or Currencies Direct (they will give you much better exchange rates than banks). A currency broker can receive

Currency hedging is a strategy used to reduce your exposure to adverse foreign exchange price moves. There are different types of currency hedging strategies that can be active or passive and include currency forward contracts, options and derivatives and are all relevant to different types of situations. In this guide, we examine a few simple

Currency cards are debit card-style payment cards designed to be used while you are on holiday or travelling outside the UK to pay for goods and services, usually anywhere you see the Visa or Mastercard symbol. Best Currency Card Exchange Rates Compared & Reviewed How do currency cards differ? Some currency cards are provided by

If you need travel money and want to order it online, our research shows that Morrisons supermarket currently offers the best rates for buying foreign currency in the UK. In this guide, we compare travel money exchange rates and explain all of the main ways you can buy travel money. It can help save you

The Financial Conduct Authority (FCA) has released guidance highlighting its expectations around levels of transparency from firms that offer international money transfers.  Opaque international payment quotes The FCA’s recent review of international money and cross-border payment services revealed significant discrepancies in the ways that firms disclose costs to their customers.  Now that the Consumer Duty