CURRENCY EXCHANGE

Whether you are looking for a safe way to send large amounts of money overseas or if you want to set up a regular small currency transfer abroad, you can choose from two types of service on Which Way To Pay Canada.

Currency exchange brokerage firms offer a fast, highly secure and low priced method of sending and receiving money to almost anywhere in the world. Dealing directly with the ‘forex’ (foreign exchange) market, they can offer the best exchange rates and a level of expertise that is unparalleled.

Foreign Currency Exchange for Corporate Clients

Most foreign exchange brokerages offer two separate areas for private and corporate clients. This is to provide each entity with the level of service it requires. Corporate clients often require large volumes of foreign currency trade, be it for settlement of overseas goods, payment of staff in other countries or for pure and direct trading for investment.

As a corporate client you will receive a bespoke service, with a wide variety of options to give you the optimum currency capabilities. Your broker will be contactable directly via telephone or email and will be on hand to discuss your firm’s requirements. Require hedging to cap your firm’s risk exposure? Your personal broker will go through the options with you, from standard forward contracts and vanilla options to more complex strategies.

Each time you require a transaction or trade, your broker will quote the latest exchange rate, usually at a highly competitive level and never far from the inter bank rate. To get the ultimate service, consider your company’s software requirements and whether you want a full advisory or execution-only account. Your broker will be able to tailor your account to your exacting standards.

Corporate Clients - Foreign Exchange
Corporate foreign exchange services for companies

Foreign Currency Exchange for Private Clients

Whatever your reason for sending a large amount of money abroad (around $3,000 and above), you can find a low cost and secure way of doing this by using a foreign exchange broker. You could also go to your nearest bank, but the exchange rates they offer to clients are much poorer than those you will be offered from a brokerage.

This is because banks are in general very large corporations that cover a very wide spectrum of services, whereas foreign currency exchange is a specialist area – and your broker will deal solely in currency exchange services for private and corporate clients. The exchange rates they offer a usually very close to the ‘Interbank rate’, because they take a much smaller margin than big banks do. Most currency exchange brokers take no fee for large transfers and commission is either very small or will not feature at all.

So, whether you are emigrating abroad and need to set up foreign transfers, if you have purchased an overseas property or if you simply want to send a large amount to an overseas bank account, allow a highly qualified currency exchange broker be your middleman. Compare their rates and offers in our comparison area.

Foreign Currency (Large Transfers)
Buy and transfer foreign exchange in any currency (over $500)

Money Transfer Online for Smaller Transfers

There are now lots of ways to send smaller amounts of money to pretty much anywhere in the world. You could find a money transfer firm that operate a branch service – remember to take your passport because they will need to see your ID to carry out the transfer. Another option is to use one of many highly professional online services.

Online money transfer firms offer a cheap way to send money to and from all corners of the globe and the exchange rates they offer are much better than those which are offered at a traditional bank. They offer a range of transfer methods – this could be a fast online-account method, email-to-email or online bank transfer. Choose whichever one suits you – and your recipient.