You might think your bank does you a fair deal on foreign currency transfers – but Australian consumer FX rates are among the highest in the world. For example, on a $1,000 transfer, you’ll likely end up paying up to $55 to the bank – that’s 5.5% of the total amount, just for the privilege of sending money, and that’s before you factor in the $30 additional overseas transaction flat fee!
We don’t think that’s fair, but we understand why it happens – the big banks use old-fashioned relationship networks to transfer your money, which is expensive and complicated. That’s the reason they don’t break down the costs for you: it’d be embarrassing for them.
Here at FlashFX, we use new technologies to skip over all of the middle men. This saves us money, which we pass on to you by cutting out the flat fees entirely, allowing us to always be cheaper than your average bank. And we ensure you can always see exactly where your money is going, and why.
That’s fair and transparent pricing, and it’s at the heart of our business.