Brett Evans

Ask and be put through to their treasury department.

Don't talk to the retail sort of salesperson because they're just quoting the spot, whatever their retail rate is.

Yeah, they've got to be discreet.

Yeah, if you're transferring a sold amount of money as you put through the Treasury Department and they'll give you a more of a specialised quote.

Option number one.

Option number two is you have your currency brokers.

So your Ys, your Revoluts, OFX, those sort of guys and girls.

Have accounts on different –

Currency brokers because they're all different.

You know, Wise and Revolut, they thrive in the lower dollar amounts whereas OFX is not as competitive.

They're competitive but not as competitive whereas when you're transferring a larger one, OFX comes into its own.

You have to shop around.

Don't, you know, banks will allow people to be lazy that you can jump on your phone and go, done, off to have my morning coffee and that's been delegated.

And we're talking, if you're transferring north of a million dollars, we're talking sometimes $10,000 to $20,000 differences in these balances.

They're huge.

So don't be lazy.

Think of the offset on the other side.

Best way to think of it mentally when you're looking at these things is there's the spot rate, which no one gets.

And then what you have is a margin on top away from the spot rate, what actually that exchange rate is.

You shouldn't be paying more than 0.5% on top of what the spot rate is.