According to the Lebanese Consulate General, there are around 250,000 people with Lebanese origins living in Australia. Many will be saving money to send to family and friends in Lebanon, where years of civil war have led to much economic and social hardship and heightened the need to provide financial support for loved ones.
One way to save money, and ensure you maximise any remittances to Lebanon, is by finding the most cost-effective means to transfer money internationally. It’s important to compare all your options, as transfer fees and providers vary and can be very expensive – particularly if you’re making bank-to-bank transfers.
Profit from specialist money transfer services
Money saved is money earned, which is why it’s sensible financial planning to use a specialist company such as Xpress Money, whose money transfer services can make a healthy difference to your bank balance while ensuring that your beneficiaries in Lebanon get the most from any international money transfer.
There are several ways to avoid high fees and low exchange rates. One is an international transfer via Xpress Money’s cash pick-up, which allows you to send funds speedily and cost-efficiently to a recipient in Lebanon. With cash pick-up, you can collect the money at one of many partner locations. Xpress Money has one the strongest network in the remittance industry and is continually growing its presence across Australia and Lebanon, making this a convenient method of money transfer for both the sender and receiver. It’s also a convenient option for those who don’t have bank accounts.
Gain value from every money transfer
Using Xpress Money, the low fees and good exchange rates mean the sender and receiver will both benefit. In other words, it’s a double saving. At just 2%, Xpress Money has one of the lowest global average costs in the industry. Compare this with the overall global average of 6.99%, or the punishingly high average remittance rate of 10.44% offered by banks, as reported in World Bank figures for 2017. Cost-effective money transfer is therefore a must for anyone who wants to save money while sending funds to Lebanon. Find out how Xpress Money can help you.