Whether you have decided to emigrate from South Africa and would like to send funds overseas, or buy goods from overseas , the question is – how to pay for these goods and how best to send money overseas that will benefit both you and your pocket. Paying for a bond every month, overseas, can prove to be both expensive and time-consuming if done through the regular banking institutions.
Many of us need to send monies or pay for services or goods overseas at some time or another, and going through the usual banking houses is not always the most prudent route to take. So why not save yourself the trouble and send your hard-earned cash via money transfer or use an agent who can make forex transfers on your behalf?
So many of us have relatives and loved ones that live abroad, that transferring money, cheaply and easily, has become a necessity for so many South Africans. You need not run a huge conglomerate to utilize this service; private individuals can also benefit from this service.
The best option would be to find a reliable and efficient company that can help you to do money transfers overseas or forex transfers. Your forex agent will be able to secure a better rate of exchange than a large bank, resulting in more for your money.
Variations in the rate of exchange can change alarmingly, even within a 24 hour period, so best to protect yourself and your business against these unforeseen circumstances. A small variation in the rate of exchange can be truly costly to your business, so best to put good systems in place that will protect you.
Arranging a contract in advance is one way to secure your money transfer against rate movement. In this agreement you would be able to buy and/or sell a set amount of foreign currency at a specific rate before a certain date, securing your profit margins against loss of funds should the rates shift, guaranteeing the rates when performing a foreign exchange transaction in the future. This way you would be able to secure your business transactions abroad when transferring monies.
This method of transferring money abroad can save you thousands of Rands in the long term.
By using the business money transfer comparison site on the web you can start as soon as today by saving money when using forex or foreign exchange.
