Brexit

On the 23^rd June 2016 the United Kingdom voted to leave the European Union (52%/48%) at the end of a historic referendum. The referendum results caused the GBP to instantly plumet to its lowest level for thirty years. Since then it has regained some ground but at the time of writing this Brexit still has not fully happened, we are still in the transitional period and politicians are debating deal or no deal.

Whatever is decided in 2020 Brexit will have a big impact on the British economy and the British pound.

If you regularly transfer money from Britain you will have noticed the volatility of the GBP and that today it does not buy as much as it used to. The pound may have recovered from the referendum fall but over the past few years overall the value of the GBP has fallen steadily. In June 2016 the GBP to EUR was 1.3 and in June 2020 it is 1.1.

For those transfering EUR or USD into GBP it's good news but for those transfering GBP into USD or EUR it's not. A "No Deal" conclusion will, no doubt, push the GBP down further. A "No Deal" conclusion will mean banks and financial services based in the UK will be unable to serve clients in the EU.

With the GBP fluctuating so much and generally falling; getting the best currency deal possible is more important than ever. That's why employing the services of a professional transfer company is vital. Transfer companies offer better exchange rates than banks because their markup is less and the fees charged by transfer companies are 80-100% lower than most banks.

If you know you have a transfer to do in the months ahead and you suspect the GBP will fall then a Forward Contract could protect you from such future uncertainties.

On the other hand if you need to transfer EUR or USD into GBP then the falling pound is in your favour. CurrencyFair, OFX and TorFX offer a Limit Order that only triggers a transfer when a certain transfer rate is reached.

Recurring Payments

There are many reasons why you may have regular payments to make overseas :

• mortgage payments
• loans
• bills
• services
• family support
• salary repatriation
• pensions
• general living expenses

Often these payments go through a bank. Banks charge a premium for sending money overseas, while dedicated international money transfer companies offer a quicker service for less.

OFX and TorFX offer their clients recurring transfers. They are regulated as a bank, so your money is safe. Once set up with your account manager you have nothing to worry about. The payment is made automatically at the specified dates using the best rates available.

Traditional banks do transfer money to other countries, they are regulated and they are trustworthy. The downside is that international payments and international financial transfers are not their speciality. That's why dedicated companies exist that specialise in money transfers abroad. Such companies offer a much more competitive and quicker service than banks. The companies found on FundsAbroad.com are equally regulated, as the banks.

If you need to transfer a large sum of money abroad then the benefit to your wallet of employing a transfer company is clear as they offer better exchange rates and lower fees than banks. Banks have supplementary fees that you would not expect to find with a transfer company, like handling charges and foreign exchange commissions.

Equally if you are regulalry transfering smaller amounts of money a transfer company will save you money. Some transfer companies have specialised staff to help with regular transfers (like pensions). These are employed to get you the best deals possible.

In conlusion you can use a bank to send funds abroad but a dedicated transfer company will charge you a lot less, find the best exchange rates and will be quicker. At the same time reputable, regulated transfer companies offer the same security as a bank.

We present clearly and precisely the pros and cons of the TOP international money transfer companies; helping you find the best deal available.

There are lots of money transfer companies and it is difcult to know who to trust your money with. At FundsAbroad we have studied lots of these transfer companies.and present on this site our top five. Below are the criterias we looked for in each company :

Trust

The company credentials

FundsAbroad.com only recommends companies that are established, with a solid track record and regulated. You can rest assured that your money is in safe hands during the transfer.

Efficiency

How long does it take?

All the money transfer companies featured in the FundsAbroad.com website provide the quickest international transfers available. They are all much quicker than any high street banks.

Value

How much does it cost?

The money transfer companies FundsAbroad.com recommends are the most competitive in the market. They are all much more effiecient and cheaper than banks, saving you time and money.

Currencies Available

What countries does the company serve?

Find out quickly which countries or currencies are covered by the financial transfer companies featured on FundsAbroad.com.

Signing Up

How to proceed and how do you get your funds to the transfer company

So you've found your perfect transfer company. What's needed to set up an account? How can you get your money to the transfer company and how is the money paid out?

We are the money transfer service for hard-working people.

We believe you deserve more, which is why we offer great rates, low fees and a hassle-free way to send money abroad.

Provider Type: Forex

Regulators: 3D Secure; Financial Conduct Authority (FCA); licensed by HMRC (Her Majesty’s Revenue and Customs); certified by German Technischer Überwachungsverein, Technical Inspection Association (TUV).

HQ: London, United Kingdom

Founded: 2012

Languages: English, French, German, Italian, Polish, Portuguese, Romanian, Russian, Spanish, 

Customer Service: Email and Chat (9am-6pm GMT)

Tech: Website and mobile app

Funds to Azimo: Bank Transfer or Credit/Debit Card

Funds from Azimo: Bank Transfer, Cash, Mobile Money

Transparent fees and competative rates. As an on-line company Azimo has reduced overheads and is a lot cheaper than banks. At the same time Azimo has found partnerships with many large bank groups to offer cash pick-up points.

Exchange rates charged by Azimo range between 0.1 - 2.25%, banks charge 5 - 10%. Equally Azimos fees are low, about a fifth of a banks fees. Expect an additional fee for paying through a credit/debit card.

Azimo states that in most cases transfers are completed the same day. However, an exact delivery time is given upon requesting the transfer, as it depends on countries/currencies involved and the method of payment. 

Delivery time is calculated in working days and excludes holidays - so a transfer initiated on a Friday afternoon may only be processed the following Monday morning.

You can only send money FROM the UK, the Eurozone, Sweden, Norway, Denmark, Switzerland and Poland.

Azimo transfers to the following countries and currencies (some local currencies are not accepted, if this is the case the currency code is not displayed. Transfers are still possible but in EUR, AUD or USD).

Registration to Azimo is free and can be completed online within minutes. Proof of address is required.

You can pay into your Azimo account by bank transfer or by credit card (there may be additional charges for credit/debit cards).

Azimo will transfer into another bank or as cash to one of 300,000 collection points or as Mobile Money (Mobile wallet transfers or Mobile airtime top-up).

Take Me to Azimo