July 27th, 2021.


Banks may not offer the best exchange rate on bank transfers – here's how to find the right provider who can get you better rates

Bank transfers can be a fantastic way to move money around the world. They’re a quick, easy and relatively inexpensive transfer procedure. But not all banks are created equal. Banks, being banks, will almost always charge you a margin on exchanging currencies. And if you’re using a bank that applies a higher margin than other exchanges, your rate could be significantly worse than the rates offered by dedicated currency exchanges.

So, how can you avoid these pitfalls? To help you save money and sidestep your bank, all you need to do is follow this four-step guide to finding the best exchange rate for bank transfers.


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