International Personal Regular Transfers

If you own a property overseas, have family living in another country, or you work outside the UK, then the chances are you’ll need to make regular money transfers abroad.

Here, we explain how regular international money transfers work, what to watch out for and how you can keep costs to a minimum…

    • Provider International Money Transfer

      Global Reach Partners

      International Money Transfer

    • Description

      A leading foreign exchange company giving clients the most competitive exchange rates for almost 15 years. One of the largest brokers for Corporate transfers also gives private individuals access to expert guidance and experience. Friendly dedicated dealers assigned to each client to build a strategy for getting the most for your money. Authorised and regulated by the FCA under the Payment Services regulations 2009.

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    5*
    Rating

    5* 'excellent' rating on Trustpilot - over 500 reviews

    Great for
    Lock the exchange rate before paying
    24/7 online access to market leading exchange rates
    Dedicated personal telephone service
    But be aware that
    Payments by bank transfers only
    A transfer fee usually applies but you will be advised of the relevant amount before you agree to any transaction
    • Provider International Money Transfer

      HiFX

      International Money Transfer

    • Description

      Whether you’re paying an international mortgage, making salary transfers or transferring a UK pension overseas, whatever your regular payments needs, HiFX offers the ultimate in convenience and ensures you avoid the unnecessary fees charged by the high street banks each and every time you make a payment. Automate your payments via direct debit or make transfers online whichever is more convenient.

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    5*
    Rating

    5* ‘excellent’ rating on Trustpilot from over 10,000 verified reviews

    Great for
    Over £100 billion transferred on behalf of businesses and private individuals worldwide
    Authorised by the Financial Conduct Authority
    Exclusive to MoneySuperMarket – transfer £5,000+ and you’ll be entered into a monthly prize draw to receive one of 10 £50 vouchers.
    But be aware that
    Minimum transfer £250
    No cash, bank transfers & debit/credit cards only
    • Provider International Money Transfer

      The FX Firm

      International Money Transfer

    • Description

      A privately-owned business in no doubt that client satisfaction defines its future success. Whether you are an individual or a business, The FX Firm will offer you great exchange rates and can transfer money to any account in the world through the company’s state of the art international payments systems. Authorised and regulated by the FCA, The FX Firm has traded over $1bn on behalf of its clients in 2015.

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    • Go to site

    5*
    Rating

    5* 'excellent' rating on Trustpilot

    Great for
    Helpful, impartial guidance rather than pushy advice - consultants not incentivised by commission
    No transfer fees or hidden charges - what The FX Firm quotes, it sends
    Ease of use - move money online, by phone or via email
    But be aware that
    Minimum transfer is £500
    Payment by bank to bank transfer only
    • Provider International Money Transfers

      World First

      International Money Transfers

    • Description

      Whether you’re paying an international mortgage, working abroad and want to send money home, paying for overseas tuition fees – or any other reason - World First offer highly competitive rates, exceptional services, and a dedicated contact to ensure you’re getting the best deal for your foreign exchange transfers. Authorised by the FCA, they are safe and secure, and have an easy to use online service that saves clients time.

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    • Go to site

    Great for
    24/7 access to live transparent exchange rates and transfer on the move with World First's app
    Better exchange rates than the banks and the fastest available currency transfers
    Award winning customer service, and a dedicated contact
    But be aware that
    Bank to Bank and card transfers only
    Minimum transfer amount £1,000 or equivalent
    • Provider International Money Transfers

      Halo Financial

      International Money Transfers

    • Description Whether you're at home or abroad, Halo Financial can help make regular international payments easy. Halo Financial have developed a simple, flexible and cost-effective payment solution to help you make monthly repayments for an overseas mortgage, receiving a pension, rental income, maintenance costs, school fees, payments to family, business payments or any regular money transfer with a solution tailored to suit you. For your convenience automated orders can also be set up protecting you against currency loss and maximising your currency gain.
    • Go to site

    Great for
    Same day & next day transfers available Monday - Thursday 8:30am - 8:00pm, Friday 8:30am - 5:30pm
    Personal telephone servicing
    But be aware that
    Minimum transfer is £250 per month
    No online transfer servicing
    Bank to Bank transfers only
  1. Great for
    24/7 online access to great exchange rates
    Award winning customer service
    If you get a better quote from another bank, contact Virgin within 3 hours and Virgin Money will beat it. Terms and conditions apply
    But be aware that
    Minimum transfer amount of £1,000
    Telephone dealing team available 8.30am to 5.30pm, Monday to Friday
    This service is available to UK residents only
    • Provider International Money Transfers

      Currencies Direct

      International Money Transfers

    • Description

      Receive bank-beating exchange rates and fee-free, overseas money transfers with the added benefit of Currencies Direct’s ‘best rate guarantee’. Currencies Direct were the UK’s first currency specialist for overseas money transfers, with thousands of regular users and a 5* review rating on Trustpilot. Choose from a selection of over 60+ currencies and receive free guidance from their currency experts. Unrivalled local market knowledge with over 20+ global office locations.

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    • Go to site

    5* Rating

    5* 'excellent' rating on Trustpilot

    Great for
    Free transfers and bank-beating exchange rates
    Transfer over the phone, 24/7 online or via their app
    Get ‘best rate guarantee’ on all your transfers
    But be aware that
    Maximum online transfer £15,000
    Payments by bank transfer only
    • Provider International Money Transfers

      FairFX

      International Money Transfers

    • Description

      All FairFX international payments are simple, secure and fast, with no fees and great rates on online money transfers as well as its telephone dealing service. Whether you're making regular payments or sending larger amounts, choose the service that best meets your needs. FairFX is FCA authorised, registered on the AIM market of the London Stock Exchange, and was previously named as one of 1000 Companies to Inspire Britain.

    • Go to site

    5* Rating

    5* ‘excellent’ rating on Trustpilot from over 4,000 verified reviews

    Great for
    Access a dedicated personal service through the telephone dealing team
    Free Rate Watch Service
    Send money online or through the FairFX mobile app
    But be aware that
    Minimum £500 transfer online
    Bank transfers and debit/credit card payments only
    • Provider International Money Transfer

      Moneycorp

      International Money Transfer

    • Description

      Moneycorp help their clients save money with their regular overseas payments through a selection of automated, flexible and hassle free transfer schedules which can be managed online or over the phone. Moneycorp have proudly achieved the Gold Trusted Merchant Certificate 2013 for outstanding customer service from Feefo.

    • Go to site

    Great for
    Paying mortgages and property maintenance bills, tuition fees, transferring pensions and overseas salaries
    Bank beating exchange rates with free expert telephone service and guidance on the various regular payment options
    Protecting your international transfers from sudden exchange rate fluctuations
    But be aware that
    Minimum regular payment plan is £250
    Credit cards are not accepted for payment
  2. Great for
    No minimum transfer amounts
    But be aware that
    Fees apply for currency conversions
    Exchange rate only provided when confirming transaction

International personal regular transfers

Lots of people need to make regular international money transfers overseas, perhaps because they support friends or family, or because they own a holiday home and have ongoing costs to meet.

These payments can be for small or large amounts, and may need to be made weekly, or monthly. Usually payments are collected in sterling from your account by direct debit, and foreign currency is sent automatically abroad.

As a general rule, you can opt to have a set amount of sterling deducted from your account for each transfer, or you can fix the amount of foreign currency that arrives at the other end. If you opt for the latter, the amount of sterling that comes out of your account will vary depending on the exchange rate, while if you fix the sterling amount, the amount of foreign currency received overseas will vary.

Where can I set up regular transfers?

Many people simply opt to use their high street bank to make international money transfers, but it’s also worth investigating specialist currency brokers too, if you want to keep transfer costs to a minimum.

Fees can take add a significant chunk out of the amount you are transferring, so it’s vital to check exactly how much you will be paying. As a general rule, high street banks charge around £15 to £25 per transfer, while currency brokers can typically arrange fee-free or low cost money transfers for £3 to 10 per transfer.

Certain banks, particularly those with branches overseas where you can hold accounts in two countries, will also allow fee-free money transfers, which could save you hundreds or even thousands of pounds if you are making regular transfers over a long period of time.

In addition to transfer fees, you will also have to pay a foreign exchange rate and a fee from the bank which receives the funds. This is usually about 0.5% but will depend on which bank you use.

Check exchange rates

If you need to make regular international money transfers, it’s vital to check the currency rates on offer, as these can have a significant impact on the amount that ends up being transferred.

If you are relying on a high street bank to arrange your transfer, you will have to specify the day on which you want to make the transfer, and hope that you don’t end up transferring your money at a time when the exchange rate is working against you.

Some specialist currency brokers can help avoid exchange rate volatility by allowing customers to lock into favourable exchange rates months, or in some cases a year or more, in advance.

Of course, there are risks involved if you do this, as if the exchange rate moves in your favour, you won’t be able to take advantage as you will already have locked into a particular rate.

Will my money be safe?

If you are making regular international money transfers via a high street bank, then you have peace of mind that your money is protected by the Financial Conduct Authority. However, if you move money using a currency broker, then not all of these - particularly when it comes to smaller companies - are regulated by the FCA, so you’ll need to do plenty of checks to ensure your money is protected.

Find out how long the currency broker has been established and search on the internet for any customer reviews so that you can get an idea of how they rate from a customer service perspective.

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