Whether you’re planning to travel to the UK or sending money to a loved one who lives there, you need to convert some of those Euros to Pounds. Of course, you can use cash or credit cards, but the fees are brutal. You may think there’s no way to get around it, but there is! First, let’s just focus on the problem and then unearth the solution.
The Problem: Hidden, “Inter-bank” Fees
You may be making small but frequent transfers or just an occasional lump sum. Either way, a slight change in the transfer fee will make quite a difference. Every time you wire funds abroad, banks try to take as much as possible on fees, even up 14% in some instances!
Moreover, there is an “interbank” fee during transfers which they add to the exchange rate. If you’ve ever wondered why they charge so much, that’s the reason!
The problem is you can’t discover and distinguish the actual fee because they only show you the final Euro to Pound exchange rate. However, there’s a much more affordable solution:
The Solution: Online Remittance Providers
Instead of paying high fees to banks, you can use online money transfer companies that only charge about 1%. While some may still include hidden fees, reliable providers like Lycaremit don’t bury hidden fees in the exchange rate.
Additionally, they don’t require heavy paperwork; you can quickly sign up and start making transfers on various platforms such as Android, iOS, and Windows. And as for the speed, they can send your money within one day!
Since not every online provider will meet your needs, it’s best to choose one that charges competitive and transparent fees, and offers exchange rates better (or at least equal) to the mid-market range. In addition, it’s better to choose a provider that supports different platforms and various pay-in/pay-out methods.
You don’t need to look very far because Lycaremit exactly fits the description! We’ll help you effortlessly convert your Euros to Pounds with minimum fees. Don’t wait any longer and contact us!