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International Payments Blog 03
NOV.

Here at CurrencyOnlineGroup, we strive to provide the best service in all Forex related needs. Of course, our Home Delivery and Buy Back by Post services provide our customers with all the foreign cash they need, whilst getting the best rates in the country.

However, we understand that cash is not always the best option, and is not always viable. If someone is transferring money between an account in one country to another, then an International Payment is the best cause of action.

In the past, people have gone directly through their banks to make their overseas International Payments and as this blog has mentioned before, the banks will often take any opportunity they can to get as much money out of you as possible. The fees are notoriously horrendous, and the rates provided aren’t much better.

Nowadays there are much better options out there, with specialist companies providing a great service, as well as great rates. Here at CurrencyOnlineGroup we have recognised that many of our customers are making these International Payments, so we want to make sure they are getting the best service possible, and in turn saving themselves a lot of money! We can make sure you can make these payments from a host of countries and accounts around the globe, with zero fees attached and unbeatable rates too. Just like our other Forex services.

Get in touch with us to find out more, and make sure you save yourself as much money as possible.

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WHY CASH IS STILL KING 18
AUG.

Over the last few years, the use of debit and credit cards on a day to day basis has almost taken over cash here in the UK. They’re free to use, easy, quick and it’s extremely convenient to either swipe, use contactless, or enter a pin to make a transaction. This is all well and good in the UK, but more and more people have started to use the same method for paying overseas. This is where the issue lies.

Depending on what bank you’re with, people traveling abroad are constantly being faced with unknown costs and fees, with many banks charging for withdrawing money out of an ATM when abroad and using the card to pay for any transactions over the counter. The rates the banks use are often terrible, sometimes even charging a ‘commission’ fee or percentage, for what exactly I’m not sure.

A tip for our customers, is that if they do need to withdraw currency abroad, be wary of the banks asking if you would like to get charged a fixed fee in GBP. Many people choose the GBP amount, as they then know exactly how much they are being charged. Banks know this and a lot of the time make a fortune from the rate. The rate they give for choosing the fixed amount is awful, the BBC recently wrote an article on this, here:

http://www.bbc.co.uk/news/business-40702496

Even most pre-paid cards have hidden costs. I think the future has a lot more to offer in this area and we will see a steady increase in popularity in pre-paid cards over the coming years, but for now pre-paid cards have a long way to go before taking over cash as the best form of payments aboard.

The prepared holiday maker can not only save lots of money, they also save themselves lots of hassle and prevents them from the feeling of being ripped off by simply ordering their currency online before they go.

So next time you go away, let us help your holiday get off to a stress-free start, by ordering your currency online, with honesty, transparency, free next day delivery* and great rates that will help make your money go further.

Currency Online group services include:

Buy currency – next day delivery

Sell us your currency using our buyback service

International payment advice

* Free next day delivery is based on orders over £750 and must be placed and paid for before midday.

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