For clients who transfer money internationally, switching providers from a bank to a currency broker could easily save thousands of dollars! 1
The decision is made even simpler with many currency brokers to choose from – most offering user-friendly websites, good service along with low fees. Typical savings from using a dedicated dealer as opposed to a regular bank could be up to $3,000AUD on a purchase of $50,000USD based on a recent example.
If importing is your game, we recommend you compare your bank with a service that offers consistently competitive rates, rather than focusing on saving a few extra dollars for each individual trade.
Foreign exchange brokers
Some of our clients have used Macquarie International Money Transfers with pleasing results. They are an accredited dealer who provides a range of benefits & guarantees including:
- Fast, secure and convenient conversion into 48 currencies
- Competitive rates
- Automated transfers
- Limit orders
- Forward contracts
- 24 hour support
- Control and visibility
- Flexible transfer services
We suggest that you talk to your regular banker about their potential to match the rates being provided by the dealers and of course, ensure that you are dealing with a reputable organization if you decide to switch.
1 Clients with substantial forex volume may find that their bank does provide competitive pricing.