What You Need To Know About International Money Transfers
Another personal challenge facing expatriates moving abroad is the sometimes expensive and time-consuming task of transferring your funds between countries.
It is worth considering that transferees can find it difficult to navigate the different fee structures and currency exchange rates offered by different banks and foreign exchange providers, and they can end up with unforeseen costs solely due to their international move.
For example, making mortgage payments at home or completing salary transfers, employees can lose money through bank/provider fees and foreign exchange rates. While this can be viewed as a personal cost to the transferee, it should also be taken into account that he/she would not be incurring these costs were they not working for their corporation abroad.
The team at Four Corners informs transferees about the potential costs associated with moving funds from Australia and recommends this is further bolstered by organisations providing relevant information internally too.
Suzie Adlington, a UK expat living in Australia “found that OFX was the best option. OFX had the cheapest rates that I could find and it also seemed like the safest. “As I was transferring over $90,000, I wanted to make sure the system that I was using was secure, but also simple. OFX was good and the customer service that I received was exemplary compared to previous overseas transactions that I’d made before”.
By choosing to use a global international money transfer service like OFX, you could save a considerable amount of money when compared to the banks. And, you can rest assured that your money will be transferred securely and swiftly.
If you have concerns or questions about the above please get in contact with us on +61 2 8904 0100 or firstname.lastname@example.org.