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.
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.
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.
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.
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.
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.
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.
Expat Preparation Checklist So you’ve made the big decision to move overseas and become a citizen of the globe. You’ve decided to explore and experience a new culture, taste new foods, immerse yourself in the context of a different language, currency, and an overall new way of life as an expat. For many, this will […]
We take a look at five tips that can help you avoid common mistakes and save money on overseas property purchases.
In this guide we take a look at Foreign Currency Accounts, both the good and bad aspects and what to watch out for.
With 5 of the top 50 universities in the world being in Australia in 2018, it should come as no surprise that this is the third most popular international student destination in the world (www.topuniversities.com). Australia offers world class study facilities and educators, providing both local and international students a diverse range of study options. […]
There are three cost components to foreign transfers: Exchange Rate Margins Provider Fees Bank Fees Lets go through each of them to see where all your hard earned money is going… Exchange Rate Margins The inter-bank exchange rate is the mid-rate you see on the news each night and is only for reference, these rates […]
Tips on Buying your dream property abroad.
So you’ve enjoyed the excitement and celebrations for being accepted into an institution overseas to study, now,down to the logistics. What do you need to have in place to ensure that the transition to student life overseas goes as smooth as possible whilst also making sure that you’re being money smart? Here are BER’s top […]
Be smart and get the best exchange rate for regular payments Millions of international students are studying outside their home countries which can add up to be a substantial expense. Eliminating unnecessary foreign exchange costs is therefore a great first step to ensuring that more of your hard-earned money is spent on you and your […]
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.
Setting up regular international payments is easy and can save you time and money If you have recurring overseas transfers to make, consider automating them to simplifying your personal administration and save time in the process. Whether that be for paying an overseas mortgage, receiving a foreign pension, or paying for overseas tuition fees for […]
Manage exchange rates when paying for overseas luxury purchases If you are looking to make a foreign transfer for an international outright purchase to get the keys to a luxurious car or yacht overseas, or pay for that wonderful piece of art or jewelry that caught your eye on a recent trip. Before using your […]
Managing exchange rates can be an important for expats repatriating overseas funds & earnings – Send money home at better rates Expats, international investors and frequent travelers often need to move money between countries & currencies and the conventional bank systems for doing this are often slow, cumbersome and expensive. A host of services has […]
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 […]
Peer-to-Peer is a recent innovation for international money transfers. The playing field is being levelled with retail customers benefiting from great rates that were previously only available to big companies. At the forefront of this innovation are ‘peer to peer’ money transfers. Online peer to peer (P2P) first began in the early nineties, with file-sharing […]