An expat will, at some stage on their expat journey, need to engage in a foreign currency transaction.
For example, funds may be required from their home country to pay an expense or to purchase an asset after relocating.
An expat engaging in foreign currency exchange has the choice of using a bank or a foreign currency exchange (FX) firm. Over recent years, a number of factors have led foreign FX firms gaining popularity.
One factor is the competitive exchange rate offered by such firms compared to Banks .This usually leads to a difference in 3-5% in the exchange rate.
Another factor is the personal service offered by such firms, which lead to tailored currency solutions to meet an expat’s specific needs.
Many firms also offer timely market news information to expats, via phone SMS, email and phone apps, stating major currency movements, news and economic data which may prove helpful to an expat.
With staff available in different time zones, allowing an expat to call and discuss a transaction at any time, it is strongly suggested that an expat consider using the services and expertise of a FX firm when a foreign currency transfer need arises.
Providing the best and accurate currency and foreign exchange service since 1993, XE continues to gain global trust becoming the world’s most popular currency site.
Recently incorporating technology with their vision, they have developed mobile solutions to ensure that their customers get top notch foreign exchange service anytime, anywhere.
With modernised and expanded services to meet their customers’ growing needs, XE continues to bring reliable and accurate currency and foreign exchange services to 280 million visitors annually.
To know more about XE, please refer to the contact details below:
Melbourne: Ben Pirrie