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FinTech

News about Non-Bank FinTech providers who provider International Money Transfers and Currency Exchange.

 

OFX 2021 Review – Foreign transfers with OFX compared

OFX is one of the world’s largest and best providers of international money transfers. This highly regulated firm offers a complete foreign exchange solution complete with 24/7 phone support.

Revolut App & Card – Best Exchange Rates Review

We review Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate.

Revolut Card in Australia – Review

We review Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate.

Wise Money Transfers – Review

Wise has been making waves in the global payments market since it came on the scene back in 2011 (as Transferwise) and is undoubtedly one of the best services for sending money across borders.

InstaReM – BER Review

Instarem provides fast, safe and cost effective cross border money transfer services for Individuals and businesses from Australia, Hong Kong, India, Malaysia and Singapore to more than 25 countries.

WorldRemit – BER Review

With WorldRemit, send money online 24/7 to 140 destinations at highly competitive exchange rates. Send to bank accounts and mobile money wallets, top up a loved one's mobile phone or send for cash pick-up.

Banks Charge Small Customers 25 Times More for FX, Research Shows

New research from the European Central Bank shows that banks charge smaller customers up to 25 times more for FX forward transactions and that those who fail to compare providers pay 14 times more for FX than those that do.

XE Money Transfer – BER Review

XE works on razor thin margins for money transfers to more than 100 countries and nearly always guarantees a fantastic deal. Transfers can be booked online and over the phone and most are processed within a single working day.

TransferWise Borderless Account – BER Review

TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.

WorldFirst Foreign Transfers – BER Review

WorldFirst is a market leader in the international payments space and is consistently ranked among the most reliable and cheapest money transfer handlers for four-figure sums.

OFX Global Currency Account – BER Review

OFX Global Currency Account – Independent BER Review OFX Global Currency Account: A Summary OFX has a 30-year history and is one of the largest foreign exchange specialists in the world. It offers a “Global Currency Account” that allows online sellers to hold, send and receive funds in GBP, EUR, USD, AUD, CAD and HKD. […]

Disruptors Challenging Australian Banks in Forex Price and Service: ACCC Report

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.

Facebook’s Libra Is Not the Game Changer That’s Being Promised

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.

TransferWise Gets Malaysian Remittance Licence

No longer will Malaysians sending money overseas be subjected to grossly inflated exchange rates and unnecessary bank charges following news that TransferWise has been granted a remittance licence by Bank Negara.

Best Multi-Currency Accounts 2019: WorldFirst vs. TransferWise vs. OFX

We compare the features, exchange rates and security of the three best multi-currency accounts available today — the WorldFirst World Account, the TransferWise Borderless Account and the OFX Global Currency Account.

Fintech Money Transfers Up 2,500 percent in South Korea Last Year

The number of international money transfers handled by fintech providers in South Korea has grown 2,500 percent in little over a year, the country’s financial regulator has said.

SWIFT Trials Real-Time Transfers in Europe; GPI Network an Answer to Ripple

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.

Revolut Adds Group-Saving Feature

This week saw the addition of a group-saving feature in Revolut. “Group Vaults” are an extension of popular Vault functionally that Revolut introduced last year.

Fintechs vs. Banks: Remittance War Rages On as FX Costs Slashed for Millions

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.

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

World Accounts now let your business collect funds and pay local suppliers in HKD or make payments to offshore CNY (CNH) accounts in China.

Consumers Throwing Away Billions on FX Fees (TransferWise Study)

As in the rest of the world, consumers in Singapore are being fleeced when it comes to foreign exchange costs, a study by TransferWise has revealed. Individuals in Singapore are being charged 15 times more on international payments than companies are, with S$2 billion lost in hidden FX fees annually.

India Pursues Complete Ban on Digital Currencies

Cryptocurrencies and the blockchain technologies that support them are at the forefront of remittance-industry innovations, but these are under attack in India, where a complete crypto ban will be proposed in May.

Remittances Reach All-Time High

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.

WorldFirst World Account – BER Review

WorldFirst World Account – Independent BER Review World Account: A Summary WorldFirst, a market leader in the international payments space, offers a multi-currency “World Account” that allows businesses to hold, send and receive funds in 10 major currencies: GBP, EUR, AUD, CAD, JPY, SGD, NZD, CNH and HKD. With a World Account, businesses can invoice […]

TransferWise Announces PayNow Funding Option

TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.

Banking Sector Fights Back Against Fintech Rivals

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.

Revolut Steps Up Brexit Preparations

Fintech hotshot Revolut has written to millions of its customers to warn that new verification documents will be needed in the event of a no-deal Brexit; it has also called on the UK government to get serious about post-Brexit tech visas.

WorldFirst Owners Target European Expansion

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.

CBOE Ditches Bitcoin Futures Amid Reduced Interest

Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.

Revolut Introduces Auto Currency Exchange

Digital bank Revolut announced this week the introduction of a significant new feature: auto currency exchange based on targeted exchange rates.

Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies

Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.

“Witching Hour” Woes: Currency Traders Wary of Flash Crashes During Quietest Part of Day

Currency traders continue to be wary of the potential for flash crashes during the dreaded “witching hour” between the end of New York’s business day and the start of Tokyo’s. Flash crashes can cause massive losses to those on the wrong side of them and without central bank intervention more of these are on their way.

Mega Bank Ends Cash Remittances

Japanese mega bank MUFG has announced it will end all over-the-counter money transfer services in June of this year in an effort to avert money laundering.

Revolut Readies Singapore Launch

Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate, should be ready for its Singapore beta launch in March 2019, the company has said.

Japan Allows Fintech Payments Specialists to Compete with Banks

Japanese Yen JPY Currency News and Forecasts

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.

China’s Ant Financial Acquires WorldFirst

Chinese fintech giant Ant Financial has acquired British payments specialist WorldFirst for an undisclosed amount.

OFX & BestExchangeRates – Zero fee offer

OFX has partnered with BestExchangeRates to offer you fee free money transfers. If you register with OFX using the below BestExchangeRates FX partner deal promo code link you won’t pay the usual fees* for transfers. OFX – zero fee offer OFX is the new unified brand name for OzForex, USForex, UKForex, NZForex, and CanadianForex It […]

Transferwise changes Eurozone fee structure

In late June 2018, Transferwise introduced a new fee structure for Eurozone foreign transfers (from EUR) ... and as always with Transferwise its complicated so we will break it down for you!

Xoom Reviewed

We take a look at the Xoom service and check how good their exchange rates are.

CurrencyFair Foreign Transfers – BER Review

BER reviews why CurrencyFair is different to most of the other FX brokers out there.

HSBC Exchange Rates Compared

Read our review of HSBC's foreign exchange services and how their exchange rates compare to FX specialist providers, compare rates and check if you can save money when you send and spend abroad.

TorFX promo coupon

TorFX Low Margin Promo Code If you register with TorFX using the below BestExchangeRates promo code link for you region your account will be allocated to the lowest FX margin group. TorFX Australia TorFX UK Read the TorFX review, compare foreign transfer rates.

Transferwise changes UK fee structure

In October 2017, Transferwise introduced a new fee structure for foreign transfers from the UK ... its complicated so we will break it down for you!

Comparing Australian Bank Exchange Rates

We take a look at why not using your bank for foreign exchange is generally a good idea to save money. As an example, we compare the 4 big Aussie banks rates for transfers and travel cash to two popular foreign exchange specialists, OFX for transfers and Travelex for travel money.

TorFX International Money Transfers – BER Review

In this guide we take a look at TorFX exchange rates, customer service and user ratings, so you can see how they compare to other providers.

Azimo Reviewed

Azimo have created a way to send money that suits how people live today – online, mobile and social.

Currencies Direct – BER Review

Currencies Direct is one of Europe’s leading non-bank providers of currency exchange and international payment services. Since its formation in 1996 Currencies Direct has maintained its focus on being an innovative service provider of foreign exchange and international transfers for consumers and high net worth individuals with an extensive client base of 200,000. When you […]

Western Union

In this article we take a look at Western Union exchange rates & international money transfer services compare to other options available to you.

American Express

In this article we take a look at American Express exchange rates & international money transfer services compare to other options available to you.

How expensive are PayPal Exchange Rates?

We Compare PayPal's foreign exchange services and Compare how expensive their exchange rates are relative to FX specialist providers.

CurrencyOnline

In January 2019, Currency Online joined forces with XE. By bringing the two companies together, XE combined their 25 years of authority in currency exchange and Currency Online’s comprehensive range of money transfer services.


Foreign Transfers

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