Post Office international money transfers 'are to become easier'

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Post Office international money transfers 'are to become easier'

Tue 4th Aug 2009

The Post Office has unveiled an initiative to make transferring money from bank-to-bank internationally a lot easier in the future.

Launched this week, the Post Office Overseas Property Money Transfer Service allows users to fix their money at a strong rate of exchange for up to one year to prevent it being eaten away by currency fluctuations.

Additionally, users of the service will be able to handle their funds from their computers at home, transferring it between international banks with greater ease.

People with a foreign mortgage to pay, expats wanting to bring money back into to the UK after selling their holiday homes and couples marrying abroad may find the service beneficial to them.

"Until now, many users of international bank to bank money transfer services have found it to be an expensive business, with limited options for small transfers," commented Sarah Munro, head of money transfers The Post Office.

In April, the Post Office Platinum credit card was chosen by MoneySupermarket.com as the most efficient pre-paid money card to use while abroad.

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