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 “Mobile Payments’ Failure To Take Off Hasn’t Stopped Experts Projecting Large Growth by 2020”
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 “How To Move Money Into and Out Of South Africa”
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 “Leaked Document Reveals Santander Charges 6 times More Than Transferwise For Money Transfers”
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 “Everything To Know About International Money Transfers – Infographic”
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 “Azimo’s One-Tap Money Transfer Solution”
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 “6 Payments Apps That Are Great For SMEs”
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.
Read more “5 Cities To Relocate Your Business To If Brexit Is not For You”
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 “The Financial Services Compensation Scheme Explained”
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 “Top 5 Luxury Holiday Destinations in 2017”
Call it bad timing, but no sooner had the European Union delivered the first Payment Service Directive (PSD), to provide a legal foundation for the introduction of SEPA, that’s the Single Euro Payments Area, which effectively created a single market for payments across the European Union, covering credit transfers, direct debits and cards, when the payments industry entered possibly its most “disruptive” period ever. Read more “Payment Services Directive 2 Explained (& An Infographic!)”
When QROPS – that’s Qualified, Recognised, Overseas Pension Transfers to you and me, were first introduced in 2006, it proved to be an unexpectedly popular piece of legislation.
In the last, “last” Spring Budget, Chancellor Philip Hammond acted swiftly and decisively to introduce a 25% charge on UK pensions being transferred overseas, which came into effect the very next day. Read more “25% Levy On Overseas Pension Transfers Has Tax Advisors Scrambling To Find Loopholes”
There is a growing trend amongst US tech billionaires that the rest of the world is increasingly taking note of.
It all began with the news that Peter Thiel, the billionaire Paypal founder and early Facebook investor has earned New Zealand citizenship, which has allowed him to purchase a $13,5 million dollar estate near Wanaka, a resort town on New Zealand’s South Island, through his holding company Second Star Limited. Read more “Why Are Tech Billionaires Buying Up Property In New Zealand?”
The Spanish banking giant BBVA has completed the first successful trial of a new Distributed Ledger Technology (DLT) known as Ripple. Read more “Ripple’s Distributed Ledger Technology Successfully Completes 1st Pilot”
Chinese companies have raised $52.6 billion US dollars via bond issues in the first quarter of 2017 – a 72% increase from the previous quarter, and five times more than Q1 2016, according to Dealogic data, Netral News reports. Read more “Massive Increase In Chinese Companies Fundraising Overseas as Firms Look To Sidestep Government Curbs On Overseas Investment”
There is much to be said for living life as an ex-pat – the sense of freedom it can give a young person or couple seeking adventure in their early twenties, the opportunity to learn a new language and explore a new culture, and a more (or less, depending upon your point of view) forgiving climate.
But when it is time to start raising a family, many ex-pats choose to return to the UK. It makes sense for several reasons; to be closer to family, to educate children in the same system as their parents, to obtain a British passport.
That said, there are some equally compelling reasons to remain abroad. Let’s look at the pros and cons of 5 of the most tempting places to live as a family abroad. Read more “Top 5 Destinations For Families Seeking The Expat Lifestyle”
If you’re reading this then you have come to the right place, because we are the experts in overseas money transfer. We have, after all, been at it for more than 10 years. Together, or co-founders Emmanuel and Huw launched the first ever money transfer comparison site all the way back in 2004.
Since then, we have seen serious change come to the industry, and that’s mainly due to the rise and rise of financial technology, which we now call Fintech.
Taking on (and outperforming) the big banks’ services
Read more “How To Compare Money Transfer Providers”
It’s no secret that the price of a Rolex, an iPad, or the latest fashion accessories in the US, for example, may be considerably cheaper than in the UK.
I can purchase this item abroad and enjoy a free holiday with the money I have saved, the thinking goes – but does this kind of conclusion have its basis in fact, or fiction? Read more “Shopping For Fashion & Jewellery Abroad”
Given that foreign exchange trading tends to exceed $4 trillion in average traded value, every day, you would be right to think that choosing the right broker to make your overseas money transfer is not an easy decision to make.
Fortunately, The Money Cloud exists precisely to make the process as simple and hassle free as possible. Both of our co-founders Emmanuel and Huw spent years researching the process of sending money overseas, working alongside governments across different continents, and even setting up a site to help migrant workers send money back to their families. Read more “How To Pick The Best FX Broker For Your Overseas Money Transfers”
If your business is considering making an overseas hire – congratulations! In business, expanding internationally can be extremely rewarding, both financially; in terms of driving the growth of the business and discovering new markets to sell your product into; and culturally – seeing how things get done in contrasting business environments can only help give a business owner a better understanding of their enterprise.
But from an administrative and tax perspective, hiring overseas is complex and to get it right involves a little bit of extra work – we have produced the following notes to try to help all business owners understand what needs to be done before you can start to make payments to overseas staff.
Read more “Paying Employees Abroad – A Guide To PAYE & Social Security Considerations”