Aussies sending money overseas, watch out! The Australian dollar has dropped steeply amid growing fears around the coronavirus outbreak, and it could mean hundreds of dollars lost on your international money transfer (IMT).
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If you’re an Aussie sending money overseas, we may have some bad news. In light of investor panic around the coronavirus outbreak, the Australian Dollar (AUD) has tumbled significantly - on Monday morning, its value dropped by about 5% against currencies like the US Dollar (USD) and the British Pound (GBP).
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Australia is no stranger to money laundering scandals - from CommBank’s $700 million fine for breaking anti money laundering laws, to more recent allegations that Westpac has committed similar breaches a staggering 23 million times.
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It’s no secret studying abroad sits on many of our bucket lists. But from tuition to accommodation, the whole experience doesn’t come cheap, and you could end up digging a lot deeper into your wallet than what you bargained (or budgeted) for.
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If you’ve got family or friends living abroad, chances are you know the pain of hefty parcel fees all too well - especially around the festive season when you may be delivering a whole bunch of presents across the globe.
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With scams costing Australians nearly half a billion dollars last year,* we live in a world where just about anyone with a smartphone and a bank account could become a victim of fraud.
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For Australians planning a Christmas trip to Japan or sending money there, you’re in luck. With the Japanese yen continuing to drop in value, Aussies making an international money transfer (IMT) or taking out a travel card for their upcoming trip to Tokyo can look forward to more competitive exchange rates right now.
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The big banks are being challenged in the international money transfer sphere by new IMT services that are popping up left, right and centre. On a mission to take down the big banks, these new IMT providers are entering the market armed with low prices and super competitive service features.
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Honestly you’d be forgiven for not keeping up to date with the whole Brexit saga. It really has been a long drawn out affair and it sometimes feels like it will never be resolved.
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What do you get when you cross an international money transfer (IMT) provider with a neobank?
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