compare money transfers

Compare Money Transfers

Why you should Compare Money Transfers

There are three different ways to make a currency transfer all can have a big impact to how much the transfer will cost you.
Before you compare money transfers you should first look at what is available to you.How you can achieve the best exchange rates and why you should use a foreign exchange broker.

1. Using a Compare Money Transfers Site
2. Using a Foreign Exchange Broker Direct

Compare Money Transfers - Comparison Sites

You can use a comparison site. This will be a better way of moving your funds because comparison sites list Foreign Exchange Brokers.
But this also has a disadvantage.
Most money comparison sites list about 10 brokers all offering discounts and maximum spreads on the transaction.
In fact the best is about .7% off the interbank rate with no extra charges.
With this in mind how much better could the rate be, if the broker did not have to pay the comparison site commission on your transaction
Surely you would prefer that money to be in your pocket and not in the hands of a comparison site?
So comparison sites do not offer you the best exchange rates

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