Sipping an Americano at a café in Toronto’s Eaton Centre, Matthew watched the tourists pass by, while reflecting on his recent move to Canada. The move had been an amazing opportunity, but had required a significant amount of planning and decision making. One choice that he was particularly pleased with was his decision to move his money using the WUSMOnlineFX solution.
After being offered a fresh start in Canada, with the promise of an exciting new career, he decided that it would be best to rent an apartment for his first six months, while he looked for the right condo to buy.
He had £100,000 GBP of life savings in the UK, which he planned to use as the down payment on his new place. When he contacted his bank, they offered to convert his £100,000 GBP to $154,980 CAD, at an exchange rate of £1 GBP = $1.5498 CAD. In addition, they would charge him a £30 GBP international wire fee.
Then one of Matthew’s friends, a fellow British expatriate, recommended Online FX; he had used them the year before, and not only had he saved money, but he found the process was quick and convenient.
After opening an Online FX account that same day, Matthew found that Western Union would convert his £100,000 GBP to $157,730 CAD, at an exchange rate of £1 GBP = $1.5773 CAD—a savings of $2,750 CAD. Not only that, but Online FX was able to transfer his funds from the UK to Toronto via ACH/EFT, for the low fee of £4 GBP, saving him £26 GBP on his bank’s high wire fee.
Given the marked difference, Matthew decided to go with Online FX, and used the extra money to furnish his new condo.
Sign up today to see how Online FX can help to make your move overseas a smooth one.
*Comparison made on April 6, 2012 with a leading UK highstreet bank.
^The above scenario provides an example of how a customer can use our services to efficiently meet their payment needs. The example given is not based on an actual Western Union client story, but is presented for illustrative purposes only.