Read more in our guide to compare the different ways to send money abroad.
When it comes to specialist currency providers, you’ll want to make sure that they’re either authorised by or registered with the Financial Conduct Authority (FCA), with authorisation offering the most protection. If a firm is FCA-authorised it must keep your money ringfenced from company funds, so if it were to collapse there’s a greater chance that you’d get your money back. All larger international money transfer firms have to be authorised by the FCA, which includes our preferred foreign exchange broker, Xe International.
Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.