- Use promo code 3FREE to get three free transfers
- Easy to use with round-the-clock help
- Get cash to family and friends in minutes
When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United Kingdom to Togo doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most West African CFA francs for your pounds.From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Togo is easy. However, do your research and shop around for the best available deal.
We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major UK banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.
You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees.
Nick has relocated to the UK with his wife and kids to work, but when his parents back home in Lomé get into financial trouble he is happy to help. He promises to send them £1,000 to help pay off their debts but, rather than taking the disappointing exchange rate offered by his bank, he shops around and finds two money transfer companies willing to offer a much more affordable transaction.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||£1 GBP = $745.86 XOF||£1 GBP = $736.23 XOF|
|Transfer method||Cash pickup or bank account deposit||Cash pickup|
|Processing time||1 hour for cash pickup, 3-4 business days for bank deposit||10 minutes|
|Amount received (in XOF)||$372,930 XOF||$368,115 XOF|
As you can see, Nick can send $4,815 XOF extra (and pay a smaller transfer fee) if he uses the first company.
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the pound was worth approximately 26 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
You’ve just had an urgent phone call from your family in Togo — they need money as soon as possible to settle a debt. Happily, sending an instant transfer is quite easy, but you will have to pay more for the privilege. Higher fees and poor exchange rates apply to emergency transfers, so make sure you closely check all the details of any transaction before you commit to it. This will prevent any nasty surprises when you realize you’ve paid much more than you wanted to.Back to top
The first step when sending a transfer is to provide a bit of information about yourself:
Once that’s done you can provide details about your recipient (name, contact details) and your transaction, including the amount and currency you are transferring and where you wish to send it.
You can then pay for your transaction by cash, bank deposit, credit card or debit card, depending on the company you choose. Keep track of any reference number you are given so that you can check on the progress of your funds.
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