Three Tips to save Money When Sending Money Abroad

The Covid-19 pandemic has brought a great level of uncertainty and volatility to the markets. Should you have to send money abroad now more than ever it is important to look at the best way to do it.

Here are three key ways to save money when you’re transferring funds abroad.

1. Check the rates and fees

If you’re using a high street bank in the UK, you may not be offered the best available exchange rate. A currency specialist can offer great rates and particularly on larger payments, even a fraction of a percentage point can make a big difference. Check the transfer fees, as those also add to the cost, particularly if you have several payments to make. Ask for a quote that includes the total cost with the rates and fees included so you can see the best deal for you.

2. Get some help, speak to a foreign exchange specialist

A specialist can provide guidance on currency market movements and tools that help you plan the best way to make your transfer. Their expert dealers have the information and the experience to guide you on the best way to make your transfer taking into account your personal circumstances, budget and timelines. A quick chat with a currency specialist could help to save you money.

3. Know your options, use free currency tools

From market insight and an overview of how currency payments work to tools that allow you to track, target and fix exchange rates. You can opt to receive free emails on rates and market movements and a wealth of information to help you manage every step of the process when you’re sending a currency payment abroad.

What to do next?

FrenchEntrée has been working with foreign exchange specialist moneycorp for more than 15 years.

Their service has received a ‘Platinum’ Trusted Service Award 2020 from independent review site Feefo.

Opening an account for them is really easy and free of cost or obligation and with FrenchEntree there is no transfer fees on your payments.

You can contact them today on 020 3773 6355 or open an account with no cost or obligation by clicking here. Alternatively you can find more about moneycorp by visiting the FrenchEntree currency page.