Tips for transferring money to Australia

If you are sending money to or from Australia, getting the best value for your money is important. As a specialist foreign exchange provider, we hope the tips below will help when transferring your money overseas.

Banks vs. currency specialists
A currency specialist company will typically offer a better rate of exchange than the banks. By using a specialist, you can also save money on other fees and charges imposed by overseas banks.

Expert market guidance
Take advantage of the expert guidance by using a specialist currency transfer company. You will receive the services of a personal dealer, who will understand your requirements and offer free guidance on the Aussie dollar. Your dealer has the tools at their disposal to help you transfer your money when exchange rates are in your favour and this is where you can save significant amounts of money.
Don’t leave it until the last minute, planning is crucial!
The exchange rate is moving all the time, therefore timing is hugely important. It is recommended you register with a specialist company well in advance if you are moving overseas. This will allow you to receive updates so you will be made aware of any movements in the exchange rate. That way you will have more opportunity to secure the best exchange rate possible.

Different ways to buy your currency
There are various ways you can buy or sell your Australian dollars. For example, with the assistance of a personal dealer, market orders can be utilised – this is setting a target exchange rate and if these levels are reached your currency is automatically bought – you can also set a minimum level ensuring you don’t lose out if the exchange rate moves against you.

Regular payments to Australia
For frequent payments, and typically for smaller amounts, you can set up automated payments which are settled by Direct Debit from your UK bank account – therefore, you can relax in the knowledge that your transfers are taken care of.

Make sure you use a secure provider
It is vital you use a trusted provider with a proven track record. Some currency specialists are now authorised and regulated by the Financial Services Authority (FSA) for the provision of payment services. You should also take into account how long a company has been operating for and the number of customers they assist each year.

PomsInOz & Moneycorp
Hundreds of Poms in Oz members have benefited from using Moneycorp for their international money transfers. Exclusively for PomsInOz members, you will not pay any transfer fees when sending your money overseas. Register with Moneycorp by clicking here.
To speak with them directly, call +44 (0)20 7589 3000, please remember to quote PomsInOz.


Article by John @ Moneycorp

Category: Finance  Tags: ,
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