Transferring money into other currencies has long been seen as an opportunity for banks to add hidden margins onto exchange rates, sometimes as much as 5% on top of the actual exchange rate.
The birth of currency brokers has put an end to this with many brokers charging as little as 0.5% for exactly the same service offered by your bank. Equally your money is just as safe when you use a broker as they too are regulated by the FCA and adhere to the same rules that the big banks abide by.
As with any growing industry, prices are becoming more and more competitive, with different brokers offering varying margins dependent on size, currency pair and more.
We’ve creates this section of the site as we’re keen to help our visitors save more when it comes to transferring funds overseas.
No single currency broker is the cheapest all the time so depending on the size of your transactions we recommend signing up with two or three of the below, giving you access to compare quotes each time you trade.