5 reasons why you need a specialist for your international transfers
If there’s one thing that we’ve learned from the EU Referendum, it’s that currency markets don’t like political uncertainty and that’s one good reason why expats need a currency specialist on their side for international transfers. Matt James explains what an international payments expert can do for you.
1. A specialist currency provider can help you access better exchange rates
There’s a revolution underway in financial services and end-users, clients, customers – whatever you want to call them – are the main beneficiaries. Specialist providers of ervices traditionally offered by banks, such as foreign exchange, and international payments, are helping to make things cheaper, faster and more transparent. Take World First’s approach to international money transfer as an example. Independent research shows that someone buying £10,000 worth of euros with World First could get as much as 3% more than they might do with their bank. And that’s the sort of saving that you can really appreciate.
2. World First won’t charge fees for private clients
At World First, we understand that no-one likes unnecessary transfer fees – and that’s why we never apply fees to international transfers for private clients. We make money by taking the rate we buy our currency at and simply adding a small percentage to the rate we then quote you. This is known as the spread and we will always be clear about the spread we offer you before you make your transfer (and we’re confident you’ll like it!).
3. Setup easy, regular international transfers and rate alerts
Lots of our private clients use our services to pay bills or keep up with commitments they have overseas on a regular basis, like paying a mortgage or supporting a child studying abroad. We can help you to setup regular payments so that you know that you are keeping up with your commitments. And, if you have a particular rate in mind, we can help you setup a rate alert or even a firm order so that you never miss that target rate again.
4. Find peace of mind with a forward contract
The currency markets are some of the fastest moving and most unpredictable financial markets in the world, and that can make planning a bit tricky. However, with a forward contract you can lock in a rate, even if you aren’t actually ready to make a transfer. You can lock for up to three years in advance so that you’ll know exactly how much you’ll get when you’re ready to transfer. You might need to pay an initial deposit, but this will be taken off the balance at the end of the contract.
It’s worth pointing out that if the rates move against you, you may need to top up the deposit but your dealer will explain everything in simple, plain English before you book your forward.
5. At World First, outstanding customer service comes as standard
Our clients are our number one priority and we treat every client as if they were our only one. Jonathan and Nick, our founders, started the business because they thought people and businesses were being let down by the main banks and that emphasis on outstanding customer service is as important to us today as it was back in 2004. Call us and a real person will always answer within three rings – no robots or confusing automated menus here. And don’t just take our word for it; you can read our Feefo ratings and reviews here.