Recommendation for Transferring Large Sums of Money Abroad

The top things you need to know when transferring large sums of money abroad are pretty obvious but often overlooked. Here we explain how to get the best deal, best rate with a secure transfer of your money.

Sending money abroad is relatively easy these days, and while most people simply use their bank for transferring large sums of money abroad, it is the most expensive way. These day’s people are saving a huge amount of money by using a service that is solely dedicated to currency transfers.

These specialist services can offer you a much better rate, as they send thousands of transactions each day. They will have direct access to the foreign exchange market, and some of the best companies will not charge you any fees. Your bank will have a hefty charge for sending large amounts of currency. Banks are not traditionally set up for international money transfers. This is why they come with high fees and rates which are; let us say “non-competitive” (terrible!).

Your bank will be the least competitive with the exchange rate. Even a rate with half percent in your favour can mean a LOT of savings when transferring large sums of money abroad. The savings can end up in the thousands.

Our Top Recommendation

Get a free quote from Torfx who will not charge a fee for sending currency. They boast bank beating rates, and will always strive to give a competitive quote. They are a long established and trusted UK service which is regulated by the FSA.

Once you have set up an account with them, making regular transactions becomes a breeze. Simply transfer they funds from your bank to your Torfx account and send your desired money.

For example, you may send regular transfers abroad for property payments, overseas school fees, maybe even business payments. For whatever reason, regular payments are much cheaper to do through a company that specializes in money transfers. You would be losing out by simply taking the “easy” option and using your bank.

Open a free account and get a quote and see how much you can save.

Get further information on the best way to transfer money to France here.

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