When you make any foreign currency transaction, the value you receive will depend on the exchange rate and service fees. You will get the best rates if you are using the services of an international money transfer agency. If you use the services of a bank, you are losing out on a lot of money and must soon switch to a money transfer agency. Let us have a look at how you can get the best rates and places to avoid.

What does best exchange rate mean?
The best exchange rate is the one that will help you get the highest value for your transaction. Besides the rate, it is also essential to consider other factors like payment method, transfer fees, delivery speed, and customer service. If you want to send the money immediately, you might have to opt for whatever rate you are getting. Some economic factors also affect exchange rates. Besides rates, you must also consider the factors mentioned above when transferring money abroad.

How to get the best rates?
Here are some tips that will help you get the best rates.

Find out current rates and compare
You must always search for a few money transfer agencies to get their quotes. It will then be possible for you to do a thorough comparison. You can also search for online tools and website that offer free comparison features.

Forward contracts
These help you lock in a rate for a certain period. For example, you might be getting a good rate today and want to transact two days later. In this case, you can contact the service provider to lock the rate for you. Some agencies do offer these services so that you can get avoid yourself from getting bad rates.

Big transfers
If you are someone who transacts regularly, it is advisable to do one large transaction rather than smaller ones frequently. If the transfer amount is higher, you can expect better exchange rates and lower service fees.

Bottom line
If you are looking for a reliable money transfer service provider, Orient Exchange will be your one-stop-shop. Money transfer will be a hassle-free process as we take care of all your paperwork. You can rest assured of the best exchange rates and lowest service fees when you transact with us. To get the best and live exchange rates, contact us today, and we will assist you right away.

Author's Bio: 

Orient Exchange is a top-rated Foreign Exchange dealing with Currency Exchange, Forex Cards, Outward Remittances and travel insurance. For more information, kindly visit our website www.orientexchange.in