Transferring money internationally from Canada? If you are, here are some helpful pointers you must consider if you want to make sure that your money won’t be significantly trimmed down as it makes its way to its destination.
Read on and find out how you can obtain quality money transfer service and get excellent value for your money.
Tip No 1: Avoid bank to bank transfers.
If you have just arrived in Canada and you’re looking to transfer your funds abroad, you should avoid doing direct transfers between your bank accounts.
Unexpected fees, bad exchange rates, and getting doubled charged by both banks are just some of the problems commonly associated with direct bank to bank transfers.
These non-bank entities offer more competitive rates and they provide customers with better options as compared to those offered by banks. By enlisting their services, you can save a great deal of money when sending money from Canada.
Tip No 3: Shop around.
Whether you are using banks or money transfer service companies, the fees they usually charge often vary from one company to another.
Also, the amount of money you’ll pay to send funds abroad will depend on how much you are looking to transfer. So if you don’t want to break your budget, shop around and do some research.
A small percentage difference in the rate and/or service fees can result in large savings. Be sure to shop around before transferring money internationally from Canada or anywhere in the world for that matter. 🙂
Tip No 4: Avoid multiple transfers.
If you make at least ten international money transfers over the course of your stay in Canada, it could easily cost you hundreds of dollars in extra unnecessary charges.
As such, it would be wiser to consolidate your transfers instead of sending small amounts of money multiple times back home.
Tip No 5: Choose a money transfer company that is guaranteed safe, reputable, and reliable.
Because you’re sending your hard-earned money to your loved ones back home, you should always choose a money transfer service that is guaranteed safe and reliable.
CurrencyFair, for instance, has been recommended by expats not just in Canada, but those in other parts of the world as well.
Always remember that when it comes to international money transfers, it’s always best to look for better options so you can get better services and of course, bigger savings.