How to transfer a large amount of money
We all dream of having lots of money so that we can do what we want, whenever we want.
Holiday in the Mediterranean? Sure.
New car? Yes please.
The latest pair of trainers? No sweat.
Although it may not seem like it, there are some problems with having large amounts of money - especially if you want to send it abroad.
This is because sending a large amount of money abroad with your bank will expose you to high fees, which are often a percentage of the amount you’re trying to send.
For example, if you’re sending £2000 abroad to a friend or family member, you might expect to pay 7% of the amount as a bank fee. We can all agree that we’d rather not pay £140 as a transfer fee for this transfer!
Plus, when you transfer large amounts of money with your bank, you need to be aware of poor exchange rates. The exchange rate they offer might be up to 5% off what the real rate is. And you can guess where those hidden charges go - right into the bank’s pocket!
How can I transfer a large amount of money with low fees?
The safest way to steer clear of high fees when you’re sending a large amount of money abroad is by choosing a specialist money transfer provider that has low, flat fees for its international transactions.
Believe it or not, there are some very handy money transfer companies that charge a flat fee, no matter how you want to send abroad. Paysend is one of these money transfer companies.
With Paysend, it doesn’t matter how much you send - the transfer fee will always be the same. Paysend’s transfer fees are always locked at £1, $2 or €1.5, depending on where you’re sending money from.
This means that if you want to send £1000, £2000 or £3000 from the UK to over 100 countries worldwide, it’ll cost you only… you guessed it - £1 in transfer fees!!!! It really is that cheap!
Plus, Paysend offers excellent, competitive exchange rates, so you won’t be losing out with hidden fees.
So what are you waiting for? Sign up now, or download the Paysend app to start sending large amounts of money really cheaply!
To get started, head to the App Store or Google Play and download the Paysend Global Transfers app!
Последние посты
Pix payments have transformed how money moves inside Brazil. Since its launch by the Central Bank of Brazil in 2020, Pix has quickly become the primary payment rail, used by individuals, businesses, and government institutions.
If you're looking to send money to Brazil, you may come across the term “Pix payments.” Pix itself is a domestic payment system. Funds sent from abroad are processed by a licensed transfer provider – for example Paysend – converted locally, and then delivered to the recipient through the Pix network.
When comparing international money transfer services, many people assume that using the mid-market exchange rate automatically means a cheaper transfer. The logic seems straightforward: if the exchange rate reflects the midpoint used in global currency markets, the overall cost should be lower. In reality, however, the total transfer cost depends not only on the exchange rate but also on how the provider structures its fees.
