It’s difficult to save money when you want to send money abroad because you have a lot of solutions, options and operators… Impossible to know which one tell the truth and which one is really the cheapest. To save money in your money transfer, you can use this 3 tips.
Pay attention to the hidden fees
Some services and operators are more expensive than others although the exchange rate is supposed to be the same for each one. It’s important to know that if some services are more expensive it’s because they add fees that we will call « hidden fees » in the exchange rate.
Bank and MoneyGram or Western Union for example say they make your money transfer for free but in reality you are paying those fees without seeing it. The more the exchange rate they apply is expensive, the more you pay hidden fees.
Use a money transfer comparison tool
To save money, you can use a money transfer comparison tool like Moneytis. It helps you to find the cheapest way to send your money. According to the average between the delay of the transfer, the method and the easy of use, Moneytis suggests you the best solutions.
You will see : if you compare and choose the best solution you can save a lot of money compared to a traditional bank service. According to your needs, you can choose among the best solutions the best one for you. Be careful because when you are choosing your method of payment, some operators/services have additional fees.
So the total of your money transfer can be a little more expensive. I suggest you to compare every solution before each money transfer because the exchange rate can varies during the day so the cost and the solutions as well. Moneytis helps you to be facing to the hidden fees. It’s a tool totally transparent and free for users.
Always check the exchange rate
If you check the exchange rate on a daily basis, you can send your money at the right time. It means you will do your money transfer when the exchange rate is in your favor. It is very important if you can choose when you send money overseas.
If you want to optimize your money transfer and save money, you have to be aware about the exchange rate variations and to realize your money transfer thanks to a comparison tool to analyse the hidden fees. If you pay attention to this 3 tips, you will see : at the end of the year, you will save a lot of money.