Using your existing bank for international money transfers might seem like the simplest and most convenient option, but did you know that using a specialist transfer provider can make the process more streamlined and considerably more cost-effective?
If you're using a big bank to handle your overseas money transfers, you're more than likely being slugged with uncompetitive exchange rates and high transfer fees, according to a new report from the ACCC which reveals that the big banks are especially unlikely to offer the best deals when it comes to exchanging common currencies, like the US Dollar or the British Pound.
As the report explains, if you’re planning to send an overseas money transfer of USD7000, you could save over AUD500 by opting for the cheapest IMT supplier instead of the most expensive big four bank.
The good news is that there are now a range of specialist money transfer dynamos taking on the banks in Australia, with ultra competitive exchange rates, fee-free transfers, fast and secure online services and specialist account support.
So if you're sick of being robbed every time you make an overseas money transfer, read on for the low down on three top specialist transfer providers taking on the big banks in Australia right now.
BANK BEATING MONEY TRANSFERS