You are here: Home - Credit Cards & Loans -

Expats waste hundreds a year on money transfers

0
Written by:
27/11/2012
British expats are wasting hundreds of pounds a year just on transferring money abroad, according to a report by Lloyds TSB International.

On average, expats waste £15 per international money transfer, by failing to shop around for a provider who doesn’t charge a fee for the service.

38% of expats surveyed also did not know how much they were being charged at all.

Richard Musty, expatriate banking director at Lloyds TSB International, said: “Expats often have to transfer money frequently to and from the UK, and our research shows that transfer fees can quickly add up to a big annual cost.

“Going with a provider that charges no fees can save hundreds of pounds a year, while they should also look out for competitive exchange rates.”

Customers are being advised to look around for providers who do not charge for the service.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
UK economy stays on course with 1% GDP growth in Q3

UK GDP growth for the third quarter of 2012 has been confirmed at 1% by the Office for National Statistics...

Close