It is a good thing that foreign exchange companies now allows people from overseas to send over their money at a very competitive rate. And most of them will allow you to lock or book a certain rate for a year so the value of your money will stay the same for a certain period. No matter how the currency fluctuates – which is very likely to happen as this is very unpredictable – the value of your money will not be affected. If you are sending money regularly, it is best that you use foreign exchange companies for this purpose.
International money transfer using such company is easy and is safe. As long as they have the FSA (Financial Services Authority) authorization, you can rest assure that your money will reach its destination without any trouble. These foreign exchange companies are usually backed up by the huge scale banks, which conduct high volume of currency exchange. And because of this they have the privilege to get the best currency exchange rates possible, which foreign exchange companiesthen pass on to their customers.
Originally posted on October 17, 2011 @ 6:24 am