Sending money overseas has never been this easy. With banks striving to keep up-to-date as the financial markets change rapidly, currency brokers and money transfer companies dominate the industry. If you want to send money overseas, then look no further than expert currency transfer and foreign exchange broker Universal Partners FX. UPFX has streamlined international payments and has made it so much easier for everyone to send money overseas. Currency brokers, for example, do not charge any fees when transferring your funds and they also provide a much better exchange rate than your bank. So how does money transfer work?
How to start
First, you will need to open an account with an international money transfer firm and once you do so they will get in touch to discuss the transfer, walk you through the process, explain the exchange rates and any other necessary information you’ll need to approve before proceeding. You will then be able to book the transaction, providing details of the recipient’s account and pay the agreed amount, via an electronic transfer from your UK bank account.
When to expect the money to arrive?
The process is simple and straightforward and should not take longer than two working days. Some transfers depending on the currency and exchange rates can be executed instantly within seconds. It is common that major currency pairs or strong currencies will be transferred faster than weaker ones.
Transferring money overseas
One of the safest, most secure and fastest ways to transfer your money internationally is by using an international money transfer firm. UPFX has consistently executed trades by offering competitive rates to all clients with low fees. Online money transfers are the most popular method for transferring funds overseas.
Exchange Rate: What is it?
An exchange rate tells you how much one currency is worth in relation to another currency. The general rule is that the higher the exchange rate, the more money you will receive when you trade. The exchange rate is not something stable and changes all the time depending on market news, the political situation in that country’s currency and other events that could cause volatility in the foreign exchange market. The foreign exchange market or, simply, forex, is considered the most liquid financial market and is very volatile. Because trillions of dollars are being exchanged, it is easy to buy and sell currencies. In 2019, the daily volume of the forex market reached $6.6 trillion! So, this is why the market is big, competitive and why many people decide to trade as a hobby with the potential to make a profit. While it provides plenty of trading opportunities, the forex market is also risky, that is why registering with a leading money transfer firm such as UPFX will save you time, money and lots of stress. If your business for example has regular transfers or requires a more nuanced currency strategy and risk management, then UPFX will provide you with a plan and a solution to suit your specific requirements.
Trading internationally? Save money with Universal Partners FX
If you are making international money transfers, you will need a cost-effective and secure way to do so. Universal Partners FX is the right partner for your foreign exchange. With UPFX, you can open a multi-currency account, send and receive money worldwide with low and transparent fees. You can also manage your money and send international payments 24/7 through UPFX’s easy-to-use online platform powered by Currency Cloud.
If you are an exporter or plan to start your international business, get in touch now with Universal Partners FX to find out how much you can save in your international money transfers.