A Health Check on International Payments

A Health Check on International Payments

  February 1st, 2022

We received this question from one of our customers, Peter, and here's what our currency expert Dan had to say! Keep reading to find out how to pick the best option when it comes to sending money to France.
 

"I’ve been using my bank in the UK to send money to my Britline account but want to look at whether there are any better alternatives. Any tips on what I should be looking for when I’m looking at other option?"

As we turn our backs on 2021, many of us will be focusing on our list of New Year’s Resolutions and seeing what tweaks and improvements we may be able to make to our daily lives.
While it may seem easier to stick with what’s familiar and comfortable, some change may just make things that little bit better in the long run. So while you think about positive changes for 2022 let’s look at how you can approach a New Year ‘health-check’ on your international money transfers….

Most Britline customers make frequent international money transfers between the UK and France but when did you last benchmark your current bank, or service provider against other available options?
Reviewing what you do today helps you to understand what features of any service are most important to you and also if improvements can be made

Dan, from the Britline International Payments Service has provided some suggestions to help you kick things off in 2022. He’s also provided some additional hints and tips to consider, when comparing services available to you.

 

Step One: Look at last year’s payments

1. Were you making ad-hoc payments or were they regularly spaced out?
2. Were your payments made when required or were they planned around the highs and lows of the exchange rate?
3. Were there any deadlines missed which may have incurred any charges?
4. Did you only make ‘top-up’ payments or were there any made for more specific requirements?
5. Did you do everything online or were you able to speak to someone directly?
6. How much time and effort did you spend and was it worth it?

Step Two: What’s important to you?

1. Exchange rates: Is it simply about getting the best exchange rate at the time you need to make your transfer? Or do you monitor the highs and lows in the market and transfer at the most advantageous time?
2. Range of services: Do you only make ad hoc payments? Are you aware of how other money transfer options work and what benefits a forward contract or Regular Payment service could give you?
3. Accessing the service: Do you need a quick, easy online experience or would you prefer a more personalised service with the option of speaking to someone?
4. Security: How important is security and working with an established brand to you?
5. Speed: Is it all about the speed? Who long does the process take from once you’ve agreed the transfer to seeing the funds arrive in your beneficially bank account?

Step Three: Once you’ve established what’s important to you, it will be easier to figure out which international money transfer services are best for you and whether your current provider gives you everything you need?

Step Four: Time to take some action!

**********************************************************
 

How does the Britline International Payments Service compare?

With many thousands of Britline customers already trusting us with their international money transfers, what makes them chose us?
 

• Favourable transfer rates, so you can trust that you’re getting the most for your money.
• Fast money transfers and transfer tracking, so you never have any doubt about where your money is.
• A quick and easy process, which you can handle entirely online 24/7, 365 days a year.
• Numerous transfer options, so you can send your money in the way that best suits your situation.
• Currency tools and resources, so you can stay up-to-date on your choice currencies.
• A secure service from Britline and our trusted currency partner that has more than 30 years’ experience in international money transfers