Compare Money Transfers > Money Transfer Comparison

Getting the best exchange rate for your currency transaction will be influenced by a number of factors. Some factors you will have control over and by comparing money transfer companies you can find the best exchange rate(s) for your currency exchange requirements. We only recommend and review the top money transfer companies around the world that are regulated by the financial industry.

Some companies are best for transferring low amounts of currency whilst others are suited to transferring large amounts. Click here for transfer amounts comparison table.

Please read below to find out how you can compare money transfers.

Competitive exchange rates

Generally, the more money you are converting the better the exchange rate. It is also often worth comparing money transfer exchange rates to get the best exchange rate. An additional way to get the best rate is to use currency exchange rates knowledge to decide the best time to make a currency transaction. Currency brokers such as moneycorp, OFX, Currencies Direct and XE offer information on the likely direction of exchange rates. You can use their knowledge to get the best exchange rate for your currency transaction(s).

Speed of money transfer

Money transfers can be made the same day or up to 3 days depending on the currencies being transferred and the countries you are transferring from and to. Whilst some money transfer companies include fast exchange for free, with some companies you can speed up the currency exchange transaction by paying an additional fee.

Fees for money transfer(s)

Many currency companies charge a fee to make currency exchanges. However many companies do not. Some provide introductory offers to new customers. If you compare money transfers you can find companies that will not charge a fee for currency transactions for frequent money transfers ongoing into the future. For example, if you are paying an overseas property mortgage or converting a pension each month you can save thousands of pounds (or currency equivalent) by avoiding fees on your money transfers.

Amount being transferred

Companies such as moneycorp, XE, OFX and Currencies Direct deal with large sums of money every year. This provides them with the ability to offer competitive exchange rates, particularly when converting a large amount of money. For example, when buying a property overseas, you can get a better exchange rates compared with transactions for small amounts such as buying travel money.

Regulated by the Financial Industry

Here at www.exchange-rates.com we only recommend and review money transfers that are regulated. These companies comply to certain laws, regulations and practices that make your money safe and secure during the currency exchange process.

Knowledge of the currency market

Benefit from knowledge of the currency market by using a currency exchange company. Compared with using a local bank or Bureau de Change who will not provide any advice on the direction of the exchange rate, a currency broker will. A Currency Exchange will be able to provide you with guidance on the timing of your currency exchange to maximise the amount of money you will get when you convert. This will save you money or increase your budget for you overseas purchase.

Business and Personal Money Transfers: Future Contracts

If you are making a personal money transfer it may be less frequent that for example a business buying goods and services from overseas on the weekly or daily basis. A currency tool that is offered to businesses and individuals is a Forward Contract which is a contract to exchange currency on a date in the future at today's exchange rate. A forward contract will eliminate your exposure to currency market fluctuations so you do not need to worry about exchange rates meaning you need to pay more for something you know you are buying in the future. The forward contract is available with most currency brokers.

Benefit from local knowledge worldwide

Furthermore, many local banks that you could use will not have worldwide offices. In comparison, money transfer companies will have offices worldwide providing you with an added benefit of local knownledge in various countries. Perhaps your native language is Spanish but you are moving to the UK? In this situation you will benefit from making transactions with the Spanish branch of the money transfer company whom speak your language.

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