Sending money home from Canada - partner with a currency exchange broker

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  • Sending money home from Canada to South Africa can be an expensive business if you rely on the banking system to make these payments 
  • Smart investors will use the services of a currency exchange broker to support their international payments

If you have regular sums of money to send home, such as sending financial support to family members, cash gifts or boosting an education fund, then it pays to transfer with a currency exchange broker. Not only can many of them accept small payments, even some as low as $1, others do not charge fees for transactions, which can save plenty on the costs of transfers. It also saves you time. On top of this, there are many currency exchange providers who have apps available for IOS and Android, which is perfect if you are managing your international transfers on the go. If you are concerned about volatile exchange rates, or have a larger transfer to make, and want to guard against movements, then some currency exchange brokers offer future contracts. These allow you to secure a future rate for use anytime between two days to two years. Finally, a few currency exchange brokers can support payments to cash, which negate the need for you, or your recipient to have a bank account.

To make the most of your remittance payments from Canada to South Africa, visit our online comparison tool to find the best value currency exchange provider for your needs.

 


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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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.