Use a currency exchange provider to save costs outsourcing your IT projects

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  • Forget US tech companies, if you are looking for quality IT development and outsourcing options then look at Estonia

  • The country is awash with new startup companies, in particular IT development

  • Save money on your IT development project, when sending your international payments, by partnering with a currency exchange provider

Estonia is leaps and bounds ahead when it comes to IT and mobile app development. It’s the country that brought us Skype and is nicknamed the Little Silicon Valley of Europe. The numerous agile agencies in Estonia have been integrating into global businesses for some time now, designing some amazing IT innovations.

Save on project costs, use a currency exchange provider:

If you are sending money abroad to pay for outsourcing work, you should consider using a currency exchange provider. Currency exchange brokers offer a rate that is typically between 0.5% to 1.5% over the interbank rate, which is the rate at which banks will exchange money. A bank would offer an exchange rate that was at best 4% over the interbank rate, with some offering rates around 10% more. This will eat into a large proportion of your exchange, especially if you are transferring large sums of money to pay for big IT development projects. Many of these currency exchange brokers are able to fix an exchange rate up to two years in advance, so if you have a long running project, which will require intermittent payments at various stages, this may suit your requirements. If you can save money on your exchange rate, you might have more budget to play with, especially as the Canadian dollar has depreciated against the euro in the last few years. Use our comparison tool to find the most cost effective currency exchange provider when exchanging Canadian dollars for euros.

Rachel Doyle
Rachel Doyle
Senior Content Specialist
Rachel has over 10 years’ communications and writing experience, having started her career in financial services where she spent nine years working in various roles. She started out in fund… Read more

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