Personal Money Transfers

Personal and Private Money Transfers payments over £5000.

Business Money Transfers

Make currency exchange payments for your business. Better rates than a bank.

Banking Exchange Rates

High St Banks or Currency Brokers? Cheapest way to send money overseas.

Cheapest Way to Transfer

Cheapest Way to Transfer Funds Internationally secure and safe transfers

Banks versus Non-bank Providers

Published on 7 February 2017 in More Information - Pages by Raffick Marday

Banks versus Currency Providers

Banks versus currency exchange providers? Is your high street banking partner providing the best or worst rate of exchange when making a private foreign exchange transfer? There are a number of factors in the business world that keep on evolving or succeed where banks are failing. In this case Banks versus Currency Providers as recently we have to give credit to independent companies from customary moneylenders as banks have stopped lending and homeowners overseas to businesses are finding it difficult.

Banks and other money-related foundations remain immensely wary about what tomorrow will bring. A few banks refer to over control by the administration while others tout that they are quite recently not seeing qualified borrowers.

Despite the reasons, little firms keep on struggling in discovering business credits from conventional sources to enable them to develop and succeed.
This has made a huge subsidizing hole for little or Main Street organizations in this nation.
Independent ventures are one of the (if not the) most grounded financial driver in our country. Little and Main Street organizations give employment, riches and openings in the groups in which they work groups which rhythmic movement with the qualities and prospects of their nearby organizations.

In any case, from the bank side - they additionally make the most serious dangers - dangers that banks keep on not have any desire to take.
-The familiar axiom - the greater the hazard, the more prominent the reward. What's more, to accomplish that reward, we need to discover approaches to make the hazard work in this new economy. What's more, some new non-bank loan specialists are without a doubt discovering ways!

Numerous new non-bank loan specialists are venturing up to fill the independent company financing crevice left totally open by banks. These business advance items are normally less demanding to fit the bill for and can be supported significantly speedier than customary advances as these new financing organizations comprehend the genuine needs of independent companies and the open doors they speak to.

Some of these new moneylenders Banks versus Non-bank Providers have been changing or adjusting customary business credit items to meet this new private venture financing request. Illustration:
There has been critical changes and development in non-benefit moneylenders like Micro Lenders where another business can meet all requirements for a credit transfer for £100,000, however, a business making transfers in advance upwards of £1,000,000 plus a month is securing better margin rates from independent currency companies.

There have additionally been new types of business banks entering the market. Taking the approach to see a business' budgetary quality with an attention more on income than benefit or time in business.

Banks versus Non-bank Providers where previous trends have seen the majority of private individuals using their bank to transfer funds abroad. In recent years, however, with the continued volatility of the economic markets, more and more individuals are looking at alternative options in order to stretch their money further and secure the best possible rate of exchange.

Banks versus Non-bank Providers

Fear as to the security of funds has meant that many individuals have shown a reluctance to move away from using their bank to transfer their money abroad. Recently, however, many individuals have realised the benefit of using the services of regulated non-bank providers and foreign exchange brokers who can ensure that the value of an individuals money is reached to its maximum potential and the costs of the transfers are kept as low as possible, and in some cases removed altogether.

High Street Banks versus Foreign Exchange Providers

So what are the main advantages of using a non-bank provider to facilitate your overseas payments?

  1. Currency exchange providers such as Currencies Direct provide a dedicated currency dealer to offer you a personal service and ensure that you are given the service best suited to your personal requirements.

  2. The rate of exchange in most cases will be far superior to that offered by the bank and in some cases could potentially save you up to 3% on the purchase price of a property.

  3. Currency exchange providers often agree to send the payments free of charge whereas the majority of banks will place charges on every transaction.

  4. Many overseas regular transfer payment plans set up by currency exchange providers provide free regular transfer plans whereas your local banks will place a charge of anywhere between £10 and £40 on every transaction.

  5. It is free of charge to set-up an account with a non-bank provider and you are not obligated to use their services once you are a registered client.

  6. For those clients on a budget, non-bank providers offer forward contracts in order to secure a rate of exchange. This means that the value of your currency will not change between the contract date and your final payment, ensuring you remain within your budget when purchasing a property or making regular payments abroad.

Whether purchasing a property overseas, sending regular transfers for your living expenses abroad or simply paying maintenance costs on your holiday home, it is vital that as a private individual, the value of your base currency is maximised.

The best method of sending money overseas will depend on how much you need to send, how often you need to send it, and how soon you need it to get there.

Recent Posts

» «

Leave a comment

Bank Currency Calculator

GBP Flag

1 = 1.17730

Euro Flag

1 = 1.17730

Change Currencies View Providers