When sending money internationally, it’s easy to get caught up in high fees and unfavorable exchange rates, but it doesn’t have to be that way. At Cowris, we believe that sending money across borders should be as easy and cost-effective as possible. Here are five simple tips to help you save money on your next international transfer:
- Watch Out for Hidden Fees
Many traditional banks and money transfer services advertise low fees upfront but may include hidden charges in their terms and conditions. These hidden fees can add up, making your transfer more expensive than expected. Always read the fine print and choose services like Cowris, where transparency is a priority. We offer clear, upfront pricing so you always know what you’re paying.
- Compare Exchange Rates Before You Transfer
Exchange rates can vary significantly between providers, and even small differences can make a big impact on the amount your recipient receives. Before sending money, take a moment to compare exchange rates. Cowris provides competitive rates that are updated in real-time, ensuring you get the best deal possible.
- Time Your Transfers Wisely
Exchange rates fluctuate throughout the day and week. By keeping an eye on these fluctuations, you can time your transfers when rates are most favorable. Avoid transferring during weekends or bank holidays when rates may be less advantageous. Cowris offers alerts and insights to help you make transfers when the rates are at their best.
- Avoid Using Credit Cards for Transfers
While using a credit card for international transfers may seem convenient, it often comes with additional fees and higher exchange rate margins. Instead, opt for direct bank transfers or debit transactions, which tend to be less expensive. At Cowris, we make it easy to link your bank account directly to our platform, minimizing costs.
- Leverage Discounts and Promotions
Look out for special promotions or loyalty programs offered by your transfer provider. Cowris frequently offers discounts and promotions that can help you save even more on your transfers. Subscribing to our newsletter or following us on social media can keep you updated on the latest deals.
