go efficiently and quickly.
This powerful peer-to-peer model means that fixed transfer fees are far lower than standard bank charges and exchange rates are significantly better.
Processing payments through domestic banking systems can also eliminate the intermediary and receiving bank charges, which can often come as a nasty surprise.
In order to access the excellent exchange rates and greatly reduced fees from a transfer service such as CurrencyFair, a business simply needs to register online (it’s free). It costs nothing to do a comparison and the savings speak for themselves. On a typical transaction of AUD10,000 a business could be saving $400 in fees and foreign exchange rate margins.
Any business that sends money internationally should consider putting its bank to the test.
Specialist transfer companies can offer far better value.’
Sean Barrett is a co-founder and director at CurrencyFair with over 15 years experience in foreign exchange. Based in Newcastle, Sean heads up CurrencyFair’s Australian operations.