The mobile first international payments service TerraPay has received regulatory approval from the Bank of Tanzania to launch an International Money Transfer Service for mobile wallets based in Tanzania. Read more
At some stage of our careers, we all dream about what it would be like to work from a different location. Could it really be possible to swap the grey skies of London for South East Asia, for example?
The answer, of course it is yes, it’s more than possible, and it’s a great way to broaden your horizons and learn all about a new culture, plus relocating abroad could also be a boon for your business or career, too!
If the opportunity does cross your path at the right time, a spell abroad could be a highly desirable move.
But there may be all kinds of other reasons why you might want to send money abroad to Malaysia. You may be a Malaysian living overseas who wants to send their money back home to relatives. You may be a business paying a Malaysian supplier, or setting up an office there. You may be paying for a holiday in advance. You may be paying for tuition. You may be buying a property there.
Well, we can’t find you a flat in downtown Kuala Lumpur, but we can help you on the currency side – by showing you how easy is it can be to transfer money overseas.
Let’s say you need to transfer some money to Malaysia and complete a worked example. Read more
Can Airwallex, with $13m Investment Led by Tencent, Become the Transferwise Of International B2B Money Transfer?
A new Melbourne, Australia based Fintech startup that has echoes of peer-to-peer money transfer service Transferwise but with more focus on the B2B market, has completed a USD$13 million Series A investment from Tencent, the company that owns China’s most popular social networking and now payments app, WeChat. Read more
This guide is brought to you by The Money Cloud, where you compare the best rates for sending money overseas offered by top authorised brokers and money transfer agencies.
Remember when all you would hear during the ad breaks for your favourite television programme would be “there’s an app for that”.
This was a few years ago now, when apps were brand new and the likes of Apple, Google and Samsung wanted you to learn all about these mysterious new widgets that could solve your everyday problems at a cinch.
If we were initially sceptical, we certainly took to them in the end, but the trouble was, for every Tinder, Citymapper, or Uber, there were too many apps, rushed out by companies desperate not to miss out on the next big thing, or designed by Silicon Valley geek squads, that simply didn’t cut the mustard.
They were either too niche, too complex, too badly built, or simply released to act like Trojan horses, sneaking their way onto your phones and accessing your personal data to sell on to advertising companies.
It may have taken financial services institutions longer than most to come to the app party, but in fact, we should be thankful for that.
Banking and personal finance apps can now make a genuine difference to our lives, for the better. Here’s how. Read more
Remittance Prices Worldwide (RPW), a subsidiary of the World Bank, has released its quarterly report on the costs of sending money across major remittance “corridors”.
Since September 2008, RPW has been monitoring the costs of international transfers, partly as a means to measure the progress of different regions towards global cost reduction objectives and targets, such as the G20 Commitment, which seeks to bring the average global cost of sending money abroad to less that 5% of the total sent. Read more
If a bitcoin ATM sounds like something of an oxymoron, let us explain.
These machines, which are popping up more and more across London in particular, work in the opposite way to a traditional cash machine. Read more
There are all sorts of reasons to send money overseas, but whether it’s for business reasons; paying the wages of an overseas employee, for example; personal, buying a property or sending money to a new country before relocating there; or family, paying for a son’s or daughter’s education perhaps; the same rules apply when searching for the right service.
Let’s take a look at the 5 things to look out for before making a transfer. It pays, literally, to plan in advance, take your time, and consider all the options available to you. You might be surprised how many there are. Read more
Goldman Sachs have announced this week that they will begin to move some staff from London to mainland Europe as part of its “contingency plans” to help prepare the investment bank for life after Brexit.
When a major institution like Goldman’s makes such a move, it is hardly surprising, in the current climate that the markets will pay close attention to the reasons behind it. Read more
88% percent of banks globally are becoming increasingly concerned about losing business revenues to Fintech challenger firms, whilst 82% would like to partner more with them over the next three to five years, reveals a new report, Global Fintech Report 2017, released by PriceWaterhouseCoopers. Read more
If you are still using Western Union, Ria or your Bank to send money abroad, where have you been for the last decade! Times have changed, and tech disruption has made the process of sending money overseas a far more straightforward, efficient, and cheaper process, with the added bonus that you can shop around for the best rates and services.
In that spirit, we present 8 of our favourite money transfer apps, which you can download and use on the go with a smartphone, or at your leisure, saving yourself money in the process. Each one has different features to consider, but we’re sure that somewhere in this list you will find the one that’s right for you.
To compare rates from FCA authorised brokers as well as some of the best-regarded money transfer agencies like TransferWise or Azimo, why not try our money transfer comparison engine?
To date, it seems that contactless debit and credit cards have won the battle for consumers’ affections, as, despite the obvious advantages of making payments via mobile and using digital wallets, namely the ability to earn loyalty points, heightened security and a smoother checkout experience, mobile payments simply refuse to take off in the way analysts predicted. Read more
Last week we looked at properties in the Gauteng region of South Africa, from the affordable to the fantasy home, in and around Johannesburg and within reach of reach of “Africa’s Square Mile”, Sandton.
It’s all well and good dreaming of a new life in South Africa (or vice versa – relocating from SA to the UK), but before you can do so there are many hoops you must jump through, one of the main ones being how to transfer money into or out of the country, safely, legitimately, and without giving away a sizeable chunk of it in unnecessary transfer fees. Read more
At a conference in Andorra, Transferwise achieved an unlikely coup, or, to put it another way, Santander, who ran the conference on behalf of senior executives of the firm, scored an embarrassing own goal. Read more
When did the humble infographic become the marketer’s weapon of choice?
Well, we can’t answer that but we do know that, joking aside, infographics are an extremely handy way to swot up on a subject and impress your peers, or in this case, make business or personal finance decisions with all the facts at your fingertips.
So, in that spirit, we present our comprehensive infographic, International Money Transfers Explained”, a definitive guide to your money transfer options. Read more
Azimo created an industry first when the London-based Fintech startup launched an in-app function that allows users to send money abroad using only the recipients mobile phone number. Read more
After trialling the product for some time over here, Square, the US based payments provider startup founded by Twitter CEO Jack Dorsey, has finally launched in the UK.
Square, which floated on the New York Stock Exchange in November 2015 at a valuation of around $6bn, provides independent traders with a means to take card payments using a reader- and it will retail over here in the UK at just £39.
It got us thinking about other payments apps that are valuable to startups and SMEs, and in that spirit, we present 6 of the best we could find! Read more
If the thought of running your Fintech challenger, digital startup or indeed, any other kind of business in a post-Brexit Britain is just too horrific, there are plenty of places in Europe that will welcome you with open arms – provided your Europhile credentials check out, of course.
Here are 5 recommendations below – feel free to share yours with us – and of course, when it comes to arranging moving money abroad, we will be more than happy to help.
Back in August 2007, the UK experienced its first run on a bank in more than 140 years. TV crews rushed to film long queues of deposit holders outside branches of Northern Rock, at the time the 7th largest ranked bank in the UK in terms of assets, as fears grew that the bank and mortgage lender had run out of cash, and would allocate pay-outs to their customers on a first-come first-served based.
The Financial Services Compensation Scheme (FSCS) was designed precisely to ward off such an event, which could all too easily have a domino effect – sentiment is a very powerful force within the financial markets – and when people lose faith, big banks can topple in the face of hysterical demand, Mary Poppins style. Read more
It’s hump-day, and budget day, so perhaps it’s time for a welcome bit of escapism.
With the end of the first quarter of 2017 rapidly approaching, if you haven’t started planning where to spend your major holiday for this year, here are 5 luxury destinations you might want to consider.
It’s well worth downing tools for five minutes and indulging yourself, if only for the smile it will put on the faces of your children, wife, husband, partner, and you!
Playa Paraiso, Cuba Read more