Author: David Brown
David has extensive experience in foreign exchange markets after multiple roles at investment banks and fintech startups in London and Sydney. He founded the BER platform with the goal of providing Retail and SME customers access to the same exchange rate transparency and competition previously only available to larger institutions. BER is now the leading specialist FX comparison website in Australia and a growing list of countries.
There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers:
Currency conversion rates : Banks charge huge margins for currency conversion to the majority of businesses and individuals. They tend to fix rates once a day and therefore need to incorporate enough margin to protect against intraday rate volatility. View article >
If you’re still using your bank to make money transfers or buy foreign cash chances are you’re paying excessive fees and receiving inferior exchange rates.
When buying Travel Money, providers rates can vary according to the stock of different amounts of each currency on hand or available. Some places tend to sell a lot more USD or maybe a lot of places buy a lot more USD so they will me more inclined to weight their buy and sell price accordingly. View article >
Travelling with Credit Cards can be expensive!
Wondering what those extra “Fees” are on your credit card statement for purchases in Foreign currencies? Most banks and financial institutions charge these sneaky fees for transactions in a foreign currency (as much as 3% of the amount), only a few do not charge a fee for this so it’s worth knowing what your card is costing you. View article >
TradeFinanceGlobal.com – London Friday 19th February 2016: The judging panel are delighted to announce that we have chosen BestExchangeRates as the winner for the: “Best International Money Transfer Comparison Provider” award.
We felt that the company takes a fresh approach to the currency transfer market with its simplicity and the clarity of information displayed on the site. The judging panel were particularly impressed by the range of currency related products BER looks at and complimentary data displayed in easy to access forms. View article >
When comparing Pre-paid Travel Cards
from the airlines to those of other providers and the banks you need to take into account the value of the points that you can earn on your purchases.
This is easier said than done, as the value of the points depend on how you use them.
For Qantas Frequent Flyer points we use an average of 3 cents per point, this is done by considering all the ways of redeeming your points below:
Redeeming points in the Qantas Store :
Redeeming points for Qantas economy flights :
Redeeming points for Qantas business class flights :
Using points to upgrade to Business, First class :
Compare Pre-paid Travel Cards View article >
Money Exchange TV’s Andrew Barnett interviews BER CEO, David Brown, for Sky News Money. David explains how to save money on your travels using a prepaid travel card, and why you should never exchange money at the airport departure gate. View article >
Watch official UKTI Fintech Mission video
In September BestExchangeRates was one of 10 Australian fintech startups selected from 70 applications by UK Trade and Investment (UKTI), a UK Government department, to take part in a trade mission to pitch at London Fintech Week. We were lavished with attention, events and presentations, made valuable connections with some of the industry’s most influential players and toured co-working spaces such as WeWork and Level39 (Europe’s largest fintech accelerator). View article >
UK Trade & Investment (UKTI) Australia has announced the names of 10 successful Australian fintech companies that will take part in a delegation to London in September.
The 10 companies will receive airfares courtesy of British Airways, entry to London Fintech Week, and “the opportunity to meet with London-based accelerators, successful mentors, industry experts and leading peers”, said a UKTI statement. View article >
June 2-3, 2012 by John Collett
“TRAVELLERS always need to have some foreign cash on them as a back-up just in case they are unable to use their credit card or withdraw cash from an ATM.
A check with the foreign-exchange comparison website bestexchangerates.com
shows a big variation in the exchange rates available when buying cash. The website calculates what it calls the “international mid rate”. View article >
All Vendor currency exchange rates on BestExchangeRates are compared to what we call the Mid-Market Rate for each currency pair. This mid-market rate (sometimes also called the interbank rate or spot rate) is used in global financial markets and what you normally see reported on the news. It is called the “mid-rate” because it is always half-way between latest BUY and SELL rates for the currency pair. View article >