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How to Transfer Money

United States enjoys the privilege of getting lower money transfer fees as it has the widest and strongest financial services market. To better save expenses when sending money abroad, here are useful tips:

Choose the best money transfer option

There are several options in choosing the best means of transferring money. Among the list are cash, cheques, bank draft or money order. However electronic money transfer is often the most practical as it is usually faster and cheaper than using the services of money transfer shops. If you are transferring money to a different account within the same financial institution, usually the most efficient method is an intra-bank transfer. Whatever your choice, be sure to choose the one that is convenient for the recipient too.

Shop and compare

After deciding what money transfer option to use, the next step is to research reputable money transfer firms. It would help if you have several choices to compare which among them has the best reputation and feedback from previous customers. Go for a tried and tested money transfer service as it guarantees a secure and efficient transfer of your funds.

Keep an eye on the charges

It would be better to choose a bank or money transfer company that has the closest conversion rate to the current exchange rates in the global market. This is to make sure that the money being sent will still be closer to the original amount you intend to send. If you are not careful, the recipient may end up receiving a smaller amount than what was expected.

Transferring funds abroad is definitely requires careful consideration as it demands security, affordability and efficiency. Hence, you must be cautious in choosing the best medium and company for the protection of your money. Extra care must be taken when the purpose for sending the money is very important.

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1 GBP = 1.221 EUR
1.599 USD - U.S. Dollar
12.406 HKD - Hong Kong Dollar
1.581 CAD - Canadian Dollar
12.53 ZAR - South African Rand
2 SGD - Singapore Dollar
1.469 CHF - Swiss Franc
1.542 AUD - Australian Dollar
1.577 CAD - Canadian Dollar
12.521 ZAR - South African Rand

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