Are our banks doing enough? Part 3

Our advice to you…?  Shop Around!!

  • Don’t just use your bank because that’s what you have always done.
  • Do look for the other regulated service providers and compare rates and fees they offer – most without even opening an account until you’re ready to send money.  You may be very pleasantly surprised!
  • Do compare at the same time, the rate provided by your chosen service provider with the market rate, it’s easier than you think – you can even Google it!  If the market rate is better than your service provider, they are putting a retail margin on their rate… You are paying more!
  • Don’t make a payment online without knowing all the costs!  You wouldn’t shop online with your local supermarket without seeing the total before paying!
  • If they’re not willing to provide the rate, the fee, and the expected delivery date at the very least…  You should not be willing to part with your hard-earned cash… at least not with them!

Transparency in international payments is a bit of a passion of ours, if you hadn’t notice by our last three posts!  We sincerely believe that consumers have the right to know all the facts and will do all that we can to support the necessary changes required by governments and the regulatory bodies.

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