We asked our International Payments team for the best ways to save money on overseas money transfers, and they’ve given us their expert advice...
1. Open one of our free International Payments accounts (duh). No, really.
With an International Payments account you receive the following benefits:
• No limit on transfer amounts
Customers can send as much or as little as they want, with no restrictions on quantity of transfers.
• Better flexibility on rates as opposed to QT
Quick Transfer Rates are set at 8:00am and are set for the day. With an International Payments account we can offer a much more flexible rate, as we book deals on an as-they-come-in basis.
• Wider range of currencies to send
You can only send certain currencies as a Quick Transfer, but with an IP account we can send a much vaster range, including Sterling.
• Wider range of countries to send to
Due to the velocity of a country, we are unable to send to certain countries with a Quick Transfer, however having an International Payments account opens a wider range of countries.
• Buy Back currencies (EUR/USD/AUD/CAD/AED/CHF/NZD/THB/TRY/ZAR)
We can offer a buy back system for any of the currencies above, sending the received amount to any sterling account.
2. Beware of hidden transfer fees
Banks and other companies might hit you with a hefty transfer fee regardless of how much you’re sending. We’re different – we charge a maximum of £5 for deals under £2000, and all transfers above £2000 are fee-free.
We do offer the option to pay additional charges for certain transactions, but these are not mandatory and at the customers’ request.
3. Transfer from bank to bank
All our payments are made bank to bank for a more efficient service – payments can always be tracked from their starting location to the final destination.
4. Talk to the experts
We have a dedicated International Payments team to help with any queries. You can contact us from Monday to Friday between 8am and 6pm and we’ll be more than happy to help with anything we can to get you the best and safest deal.
5. Develop a lasting relationship with a transfer service provider you can trust
We will always try to offer the best rates on the market, and wherever possible our team members will deal with the same clients on a regular basis, meaning you can rest assured we know your needs and can offer a personal service to suit you.
We also work on the live rate at that moment when booking a deal, and we will always try to be the most competitive price on the High Street or online.