Compare International Money Transfers

How to Save on international money transfers

Sending money abroad can be more affordable than you might think. Banks and money transfer companies often profit from hidden fees and margins on exchange rates, but at BER, we help you send and receive money with guaranteed low fees by comparing the latest exchange rates to find the best deal for you! Here’s how we do it.

The key to successful international money transfers is understanding the mid-market rate, also known as the interbank rate. This is the genuine exchange rate used by banks and other outlets to trade currencies globally. It’s influenced by factors like government debt, trade agreements, speculation, economic performance, political uncertainty, inflation, and interest rates.

By comparing the mid-market rate against the rates offered by banks and currency exchange outlets, we help you identify the most cost-effective option. Always be aware of any additional fees that may be hidden in the transaction, as some providers may include sneaky charges that significantly impact the total cost.

We recommend using non-bank exchange services like OFX or XE, who offer competitive rates and lower transfer fees than banks. Avoid exchanging money at airports, as their convenience comes at a high price and they rarely offer fair rates.

For the best international wire transfer options in your country, trust BER! Whether you’re traveling or living abroad, we can help you find the most suitable way to send or receive money overseas. Just as you would shop around for the best home or personal loans, it’s important to research your money transfer options, especially if you plan to make regular transactions. Fortunately, BER has you covered!
 

 
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, consider requesting quotes from the services you’re considering. Quotes can help you compare many money transfer companies and find the best deal available. Be aware that advanced transfer tools like forward contracts, recurring payments, and limit orders may incur additional charges, so verify these beforehand.

Find out how long international transfers will take with your chosen provider. Transfers typically take one to three business days, depending on the service provider, with bank transfers usually taking longer due to various factors. Always check payment and cash pickup options before transferring funds, as well as the reliability of your chosen provider by reviewing their Trustpilot rating for a safe transfer experience.

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