The Top 10 Reasons Why People Transfer Money Abroad

Business isn’t the only reason why people transfer currency abroad. We live in an increasingly global world, with people moving countries and continents for jobs or education, or even just because they think they might prefer life somewhere other than their current country.

This is contributing to the rising amount of people looking for instant money transfers abroad. When you can arrive at the airport, book a ticket, and be in a new country within a few hours, it seems bizarre that electronic funds can’t do the same.

So, what are the main reasons people use foreign exchange transfer services?

Buying overseas property

Buying a holiday home is popular for obvious reasons. If you and your family enjoy going to the same place when you get the chance, choosing a home away from home is a way to turn a potentially good trip into a winner every time. If you have a villa of your own in your favourite holiday spot, you can decorate it to your standards and turn it into a real home away from home.

Paying overseas tuition fees

If a young relative is heading to one of the top universities in the UK or America, it can be tough for them to afford the fees themselves even if they’ve been working since they were young. Finding a cheap way to send money to them can take the weight off their shoulders if they’re concerned about how they can afford the steep fees at their chosen university.

Overseas investments

If your business is doing well enough to establish a base in another country, it’s imperative that you find the best way to send money abroad to them. Conventional methods like going through your preferred bank could cost you as banks take a hefty fee for handling your cash. Using AquireFX can help you save when making international money transfers.

Sending money to friends or family

If you’ve moved away for work, then you might want to send money directly to friends or family members in your home country for things like medical bills. Sending money via international wire transfer is the easiest way to help out your loved ones.

Paying for accommodation

If you’re planning a city break in Singapore or a week of chilling and partying in Bali, you’ll need somewhere to sleep when you finally hit the hay. The most popular destinations for travellers across Australia continue to be in Asia so it makes sense that you’ll need to pay for your holiday apartment in the local currency.

Paying for overseas travel

If you’re embarking on a long holiday, you might find the money you’ve taken with you runs out sooner than you expected. However, with fx money transfer, friends and family can help you out without subjecting yourself to ATM fees abroad.

Paying for a destination wedding

Destination weddings are becoming more and more popular; travelling to an idyllic destination to see friends get hitched. Whether it’s your own or you’re contributing to the cost for the happy couple, you’re helping to pay for things like musicians, caterers and venues.

Mortgage payments for a home abroad

If you’re lucky enough to have bought a home away from home, keeping up with mortgage payments shouldn’t come with extra money being skimmed off the top, which is why it’s so important to find the right way to send your money overseas.

Paying for work to be done

You could be working with a freelancer in another country, or paying the wages of staff in another country. Either way, their wages shouldn’t cost you more than you’ve budgeted for.

Buying something from abroad

Buying things online can be a tricky journey sometimes—whether your favourite author’s new book won’t be out in your country for two months after its publication date somewhere else, or a new beauty product is an exclusive to certain parts of the world. With leading e-commerce sites, though, you can get around these restrictions.

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