Are you looking for the Cheapest Way to Send £10,000 to Europe?
The UK Consumers Association Which? exists, according to Wikipedia, ‘to promote informed consumer choice in the purchase of goods and services, by testing products, highlighting inferior products or services, raising awareness of consumer rights and offers independent advice.’
Which.co.uk research published recently features a table ranking 16 providers in order of competitiveness and places CurrencyFair at the top. The table includes 8 high street banks, two further traditional providers and 6 challengers. While we’re confident that our rates won’t be beaten by any bank or competitors, it’s always nice to have it confirmed by a respected and established authority on the topic.
The Cheapest Way to Send Money Overseas?
Which? Money found that someone exchanging £10,000 into euros could be over €400 better off using CurrencyFair compared to the least competitive bank, and €258 better off than using the most competitive bank. We’re also €13 better than the next most competitive challenger.
Champagne for everyone!
Further insights include the fact that providers make most of their money from their exchange rate margin and that ours is just 0.25-0.3% when automatically matched with one or more people transferring in the other direction. Our margin is between 0.4 & 0.6% when providing the liquidity ourselves, and of course we have a fixed fee of €3.
You can read the whole article, and see those we beat, by heading over to Which? Money and taking a look for yourself – http://www.which.co.uk/news/2016/01/new-providers-beat-banks-on-international-payments-431244/
The Which? International Payment Provider Comparison