Most people traditionally use their high street banks to send money back home, where they are unaware that there are identical services offered by companies such as 1st Contact which offer substantial savings.
Below are some tips to consider when sending money home as well as a summary of what sets 1st Contact apart from the banks and our competitors, in terms of offering significant savings to our customers.
A brief example of the savings that you should expect from 1st Contact Forex, in comparison to a bank, is illustrated in the table below:
UK to Australia
UK to South Africa
UK to New Zealand
UK to Poland
Australia to UK
Sending £1000 from UK to Australia
| Name |
Amount Sent |
Transfer Fee |
Exchange Rate |
Receiving Fee |
Funds received |
Time Taken |
| Bank |
£1,000.00 |
£25.00 |
2.28 |
$6.00 |
$2,217.00 |
3 – 7 days |
| 1st Contact |
£1,000.00 |
£7.00 |
2.32 |
$0.00 |
$2,303.76 |
3 days |
Sending £1000 from UK to South Africa
| Name |
Amount Sent |
Transfer Fee |
Exchange Rate |
Receiving Fee |
Funds received |
Time Taken |
| Bank |
£1,000.00 |
£25.00 |
14.99 |
R 300.00 |
R 14,315.25 |
3 - 7 days |
| 1st Contact |
£1,000.00 |
£10.00 |
15.05 |
R 0.00 |
R 14,899.50 |
3 days |
Sending £1000 from UK to New Zealand
| Name |
Amount Sent |
Transfer Fee |
Exchange Rate |
Receiving Fee |
Funds received |
Time Taken |
| Bank |
£1,000.00 |
£25.00 |
2.66 |
$15.00 |
$2,578.50 |
3 – 7 days |
| 1st Contact |
£1,000.00 |
£7.00 |
2.70 |
$0.00 |
$2,681.10 |
3 days |
Sending £1000 from UK to Poland
| Name |
Amount Sent |
Transfer Fee |
Exchange Rate |
Receiving Fee |
Funds received |
Time Taken |
| Bank |
£1,000.00 |
£25.00 |
4.25 |
15.00 zł |
4,128.75 zł |
3 – 7 days |
| 1st Contact |
£1,000.00 |
£5.00 |
4.29 |
0.00 zł |
4,268.55 zł |
3 days |
Sending $1000 from Australia to UK
| Name |
Amount Sent |
Transfer Fee |
Exchange Rate |
Receiving Fee |
Funds received |
Time Taken |
| Bank |
$1,000 |
$20.00 |
0.37 |
£5.00 |
£357.60 |
3 – 7 days |
| 1st Contact |
$1,000 |
$15.00 |
0.41 |
£0.00 |
£403.85 |
3 days |
* Note the above exchange rate was correct as on 7 October 2008
We specialise in international money transfers, with the additional benefit of greater savings, better service, and a wealth of knowledge pertaining to this niche market.
- Excellent exchange rates – guaranteed rates when you use your debit card online
- What you see is what you get – if you use your debit card online to transfer money, the exchange rate seen at the time you upload your transfer will be secured.*
- NO hidden bank fees or charges (for transfers to and from Poland, Australia, New Zealand and South Africa only)
- Online transactions clear within 3 working days
- All transfers over £10,000 automatically free of charge
- Speed service transfers are also offered for an additional charge – we guarantee the money will clear within 1 working day
- Secure online system, 24 hours a day
- Regulated by HM Customs & Excise in the UK.
* Please note that guaranteed exchange rates are subject to terms and conditions.
> Check the transfer fee and the exchange rate. Exchange rates move all the time so you need to make sure you check different providers at the same time of day. Keep in mind that many transfer companies don’t actually give their clients a rate anywhere close to the inflated rates quoted on their websites. With us you are guaranteed that if you use your UK debit card the rate you see when you upload the transfer, is the rate that you will get.
> Watch out for receiving fees – these can vary from £10 to as much as £50 and can often substantially negate the benefit of sending the funds.
> Be sure you know the timing of the transfer i.e. how long it will take for your funds to clear into your overseas bank account. These timing periods can vary from 3 days to 7 days.
> Use an organisation that suits your communication needs in terms of your special transfer requirements. Perhaps you are looking for a specific exchange rate or there is a particular time-frame you would like to move your money within. Does the organization give you a level of control over your transactions? Are you able to transact online and receive alerts and confirmations via email for your peace of mind? It is unlikely that many bank tellers will be able to assist you in this regard.
> Consider the risks of smaller providers that compete purely on price – there are many smaller providers trying to enter this market. Your funds may be at risk and you’ll have no legal recourse to recovering them should the business be liquidated in the middle of your transaction. Also make sure whether they are regulated by an Authoritarian body like Customs and Excise in UK.
Need more information? Our fees and Getting started will provide you with more specific information.
Ready to start? Register and start saving with your money transfers.