Compare International Money Transfers

Comparing Online Money Transfers

Sending money abroad isn’t cheap, but it can be done more cheaply than you think. Money transfer companies and banks make tons of money by charging fees and a margin on the exchange rate, which is normally hidden.

We at BER can help you send and receive money with guaranteed low fees by comparing the latest exchange rates to help you find the best deal out there! Here’s how we are able to achieve that.

While exchanging money and conducting international money transfers, keeping the mid-market rate in mind is the key. The mid-market rate, or also referred to as the interbank rate, is the ‘real’ or ‘true’ exchange rate. This is the currency rate that banks and other outlets use to globally trade different currencies on the market. The mid-market rate is impacted by economic factors, including government debts, trade agreements, speculation, economic performance, political uncertainty, inflation, and interest rates.

When you know the mid-market rate, it can be compared against the rates that currency exchange outlets and banks have. We make this easy for you by comparing the exchange rates and fees that different financial institutions have. Before receiving money or sending money overseas, it’s vital to check for any additional fees that may still be included. Some outlets like to sneak in extra fees, which change the total cost considerably!

We highly recommend using non-bank exchange services. Exchange services such as WorldRemit tend to offer quite competitive rates that give you a better value. While sending money overseas, these companies both provide customer support around the clock and charge lower transfer fees than banks do. For similar reasons, we also recommend not exchanging any money at airports. While these booths are quite convenient for exchanging currency, they never offer fair rates. As a rule, they charge a high price for convenience and should only be used as a last resort.
Looking for the best international wire transfer options for your country? BER can help!

Making an international wire transfer has never been easier! Whether you’re travelling or living abroad, you may find that you need to send money overseas or receive it.

However, make sure that you take advantage of the best money transfer options for your country! Most of us shop around when it comes to selecting home loans or personal loans that offer the best conditions – so it only makes sense to do a bit of homework when it comes to money transfers – especially if you intend to transfer money regularly. The great news is – when it comes to evaluating your money transfer options, BER’s got your back!

There are many ways to conduct international wire transfers. As well as the traditional option of using a bank, you can also use PayPal, MoneyGram, Western Union, and Wise (formerly Transferwise). Wire transfers through banks can take a lot more effort and cost more than other companies, so it’s always best to shop around before choosing one. That’s why BER offers dedicated, detailed international wire transfer guides on how to save money for transfers to such countries as the United States, Eurozone, United Kingdom, India, and Australia. We also provide tons of general information on all transfers, and are always happy to answer any additional currency exchange questions you might have.

Many companies and exchange services like to make some extra cash by skewing the exchange rates. We compare these exchange rates for you, making it easy to see which money transfer provider is offering the best one.

To avoid hidden fees, you can also consider getting quotes from the services you are considering. Quotes help you sort through many money transfers companies and find the best deal available. Using more advanced transfer tools, such as forward contracts, recurring payments, and limit orders, may also attract varying charges that should be checked beforehand.

We recommend first finding out how long transferring money internationally will take with the money transfer providers you have chosen. Checking the time can be done easily, as an estimate of the time is usually provided after completing the transfer form.

Money transfers will usually take one to three business days depending on the service provider you have chosen. This will be substantially slower if it is a bank, as bank transfers are impacted by quite a few factors. For example, if the receiver’s account is set in a very different time zone, then the transfer will take longer. Also, the days the destination bank works on can influence the speed of the transfer.
Need to keep your personal finance, international wire transfers, and credit card spending in check? Look no further!

Similarly, checking out payment options and cash pickup options before transferring funds can also help you be prepared and ensure that processing times work for you. To check the reliability of the provider you have chosen, you can check out their rating on Trustpilot, which gives an overview of many different companies. Checking the reliability of your chosen provider is important, as it ensures a safe transfer experience to your destination countries.

Anything else you need to know about wire / international transfers or travel money solutions? Ask us at BER!