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Expat Articles » International Wire Transfers


International Wire Transfers
How to achieve a better exchange rate than your bank provides

Expats around the world face a common problem when using their bank to make a wire transfer to their new destination country or when remitting money back home, that problem being the poor rate of exchange that their bank tends to offer.

It isn’t uncommon for a bank to take a as much as 5% of the initial transaction on their conversion of one currency to another, a significant amount by any means, how would you feel knowing that on a $100,000 transfer, that by the time your money arrives in another country your bank has taken $5,000!?

A leading provider of currency exchange and international wire transfers are TorFX, part of a group with offices across The UK, Europe, The US, India, South Africa and more recently Australia. Last year the group as a whole assisted over 120,000 individuals and businesses in over 100 countries with transaction exceeding US $4 Billion.

TorFX can provide more competitive exchange rates than the banks around the world, by an average of 3%, simply by undercutting and taking a tighter margin on their transactions. Furthermore they don’t charge any fees and can generally have your funds in your destination account within 24 hours of receiving them.

They can assist with transactions from $2k to $2m+ for reasons such as real estate purchases, lump sum transfers, repatriation of salary, international school fees or importing good and materials from another country.

The expat market makes up a significant share of their revenue, and it isn’t hard to wonder why, there are millions of expatriates around the world, regularly relocating from one country to another and each one will always have a requirement to move their money with them when on the move.

If you would be interested in speaking to TorFX you can receive a no obligation free quote here.