A Health Check on International Payments

Last updated: 23rd of January 2024

Many of our our customers still admit to using their bank in the UK to send money to their Britline accounts but of course, there are better alternatives. Here are a few tips on what you should be looking for when looking at other options. 

Most Britline customers make frequent international money transfers between the UK and France but benchmarking your current bank, or service provider against other available options is always a good thing to do from time to time. 

It can also help you to understand what features of any service are most important to you and also if improvements can be made to the services that you are currently using. 

Here are some hints and tips to consider when comparing international money transfer options. 

Step 1: Look at the payments you made last year

1. Were they all ad-hoc payments or were they regularly spaced out?
2. Did you send your payments when you needed to use the funds 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 2: 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? Have you looked at other money transfer options 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?

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 3: 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.

Image used is provided by Getty Images.
First published: 12th September 2022