Have you ever used a bank or an online service provider for your international currency transfer? Do you know that, while many banks and online services communicate a set fee in your transfer, they actually hide most of the true cost in the exchange rate they offer to you?
This is because banks purchase the currency in bulk at an exchange rate known as the “mid-market rate”. They then sell the currency at an exaggerated rate, taking a percentage of the profit (known as “spread” or “margin” on an FX transfer). What this means is that you are actually losing some of your money when transferring with banks and online services.
WorldFirst
Fortunately, WorldFirst, an international payments company, offers exchange rates at 3 times cheaper than the banks and charge lesser fees. As a client with WorldFirst, you will receive services from a dedicated relationship manager in Singapore, and get the option to make online transactions 24/7.
Also, WorldFirst’s payments solutions are tailored for businesses, individuals, and online sellers. Thus, you can be sure that your currency transfer needs will be met, no matter how specific they are!
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Looking to join Moovaz’s partner ecosystem? Contact us at partnerships@moovaz.com
(Information adapted from WorldFirst’s Blog Article)[:]
