6 Tips & Tricks to save on international money transfer fees

  • ERemit
  • 2 minutes read

Most people think that international money transfer always comes with an expensive bill. Well, it isn’t always the case! One can easily make an international money transfer at a lower cost, provided you know the tips and tricks. For those who have no such idea about cost-effective ways of overseas transfer, here are some for your advantage:

  • Compare the money transfer companies:
    Many international money transfer companies operate in all parts of the world to facilitate transactions across borders. From the many out there, one must make an effort to compare and contrast each one based on their features and fees structures to pick the right one.
  • Know the exchange rates trends:
    If you send money online to a particular country regularly, always keep track of the fluctuating exchange rates. A frequent check can give you a better understanding of the ups and downs in exchange rates. This knowledge helps you to plan your transactions ahead at favourable rates.
  • Try to send money in bigger amounts:
    Do not try to send money every week in smaller amounts as it will cost you extra transaction fees. On the other hand, accumulate the money together and send it in bigger amounts to save big on transaction costs.
  • Stop cash deals and go online: It is a known fact that online money transfers are less expensive than sending and receiving money in cash. Remittance fee and exchange rates are said to have better deals in online services.
  • Try newer ways: Yes, you might have been doing bank transfers for long years. But as better nuances and options arise evolve with time. They have better rate-cutting possibilities than the traditional fee structures.
  • Look out for discounts and offers: International money transfer agencies are known to offer many discounts and offers relating to certain festivals, celebrations and sometimes as part of their transaction policies. Make optimum use of such offers and discounts to send money at favorable rates and cashback offers.

These are enough to make your international transactions more economic and profitable. The best online money transfer in Australia is often the wisest choice to select as they have almost all the top tips embedded in their services, like the highest exchange rates, online services, surprising offers etc.