Author: David BrownDavid 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.
The strong start to the year for "risk-on" currencies is already a distant memory.
The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of "risk-on" currencies.
Key Takeaways from the ACCC inquiry into currency conversion services. BestExchangeRates referenced among comparison sites playing an important role in customer awareness of the excessive currency margins charged by banks.
Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.
The holy grail when you send money abroad is finding an organisation that you can trust and one that offers the best exchange rates along with transparent, smart and straightforward customer service.
Enthusiasts would have us believe that Facebook’s own digital currency, Libra, will instantly revolutionize the remittance industry upon its release in 2020 — except it won’t. A harsher reality awaits, with conversion costs, capital gains taxes and a lack of Libra-priced goods all likely to limit its appeal.
The operator of the world’s largest financial messaging system, SWIFT, has said it will trial real-time "gpi" cross-border payments using the European Central Bank's TIPS platform. SWIFT gpi has been developed as an answer to distributed ledger payment technologies, most notably Ripple.
For many currency routes, FX costs have been slashed in recent years by a number of industry-disrupting fintechs, allowing such firms to slice great chunks from the banking sector’s lucrative remittance markets. Banks are fighting back, though, by developing low-cost, digital offerings of their own.
The RBA has resisted cutting interest rates lower than the record 1.5 per cent, however, this week's lower than expected inflation data could make a cut inevitable.
Remittances to low and middle-income countries reached a record high last year, the World Bank has said. Average transaction costs remain high, with an average of 7 percent paid to transfer $200 or equivalent.
Citigroup’s announcement this week of plans to develop its own consumer-payments platform is the latest indication of a fightback by the banking establishment against fintech rivals that threaten its most lucrative markets.
Ant Financial, the Chinese fintech giant that recently acquired WorldFirst, has set its sights on Europe, where it plans to take its share of both cross-border and point-of-sale payments.
The Japanese FSA has announced it will finally remove a ¥1 million (US$9,000) cap on cross-border money transfers handled by non-banking entities, paving the way for a major overhaul of Japan’s remittance industry.
The mid-market rate is considered the fairest exchange rate available.
We look at the Pros & Cons of using a Travel Card on your travels When planning an overseas trip figuring out how to access your money while away is complicated and often left to the last minute. You then end up paying high fees for changing foreign cash or with unexpected fees on your […]
Hi, Sterling was initially happy but has fallen against the Euro and US Dollar today following yesterday’s Autumn budget announcement, which has given UK economists plenty to talk about. UBS predicted the British Pound to fall closer to parity vs the Euro. The Euro has advanced against most of its peers in the last few […]
Hi there, ahead of some major announcements investors were in surprisingly good spirits yesterday, indicated by a stronger New Zealand dollar, South Korean won, rupee and a faltering yen. Sterling is subdued against the majority of its peers this morning as investors are reluctant to move ahead of the Bank of England (BoE) rate decision […]
What a difference a week can make! The nagging doubts starting late March when the Euro was seen as the riskiest currency on the planet until after Sunday’s French election, now the Euro is suddenly everyone’s favorite and perhaps people are starting to consider how much more they will need to budget to send their […]
There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers and make sending money internationally very expensive: Currency fees Currency conversion rates : Banks charge huge margins for currency conversion to the majority of businesses and individuals. They tend to fix rates once […]
If you’re still using your bank to make money transfers or to buy travel money, chances are you’re paying excessive fees and receiving inferior exchange rates. A little bit of research and comparing travel money exchange rates before you go on holiday, could help you increase how much cash you have available to spend overseas. […]
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 […]
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 […]
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 […]
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.
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 […]