When sending money abroad, the modern traveller has a range of options at his or her disposal: banks, credit unions and private financial institutions. Thankfully, private financial institutions can offer reliable and cost effective currency transfers, making them a top choice for many individuals.
The advantage of private enterprises is that they focus on the results: providing quality customer service and competitive rates for sending money abroad. Follow these guidelines to choose the right company when you make your next money transfer.
Review the company before entering a business relationship
The first thing you’ll want to do is to check the company’s online presence. Professional organizations will have websites that provide transparency on how they do business.
You can also look at customer reviews before you ever land on the company’s website. Google My Business provides a fantastic review system by connecting everyday users’ opinions with its search engine. You can see what people are saying about the company right in the search results — just search ‘Currency Converters Inc’ to read our reviews!
If there are any poor reviews, read them thoroughly to see exactly what went wrong. Better yet, see if the company tried to rectify the situation. Every business experiences hiccups, but you should only trust the ones who take care of their customers.
Choose a registered company
Businesses that offer money transfer services need to register with the Financial Transactions and Reports Analysis Centre of Canada. This is how financial companies earn their badges of trust—and trust is an important factor while sending money. Registration gives clients a financial safety net and peace of mind knowing that you are backed up by a reliable organization.
Does the company explain its online money transfer process?
Understanding how you transfer money through the organization is important. The company should be willing to provide transparency on its process for everyone—including banks. For example, Currency Converters clearly states an upfront service fee of $15 to let customers know exactly what to expect. Transparency has been our philosophy since opening in 2009, and we continue to build long-lasting relationships as a result.
Will the company go above and beyond?
Stick with a company dedicated to keeping your business with great customer service, because you may need help abroad when you least expect it. For example, Currency Converters offers a complementary emergency service through Western Union. We believe this is the right way to build long-term relationships with trust and accountability. Make sure your financial institution will support you in your hour of need—you may need an emergency wire transfer at some point!
Sending money abroad shouldn’t cost a fortune—electronic money transfers are simply a part of making travel affordable. Review the company first, understand its processes, and ensure it’s committed to your travel experience under difficult circumstances. Call us at Currency Converters to help you get started.