Expats lose a small fortune when sending money home

Expatriates working in the UK and sending money back home are being stung by high exchange rates and huge transfer fees.

In these difficult times it's important that you get the most out of your money. With banks and online currency companies overcharging for making simple overseas payments, expats are in the firing range. Caxton FX is bucking the trend by offering free transfers and bank-busting rates.

Not only do banks and some online payment services often charge around £25 pounds or more just to transfer your money, they can also charge commission, normally adding around 1.5% to the already uncompetitive exchange rate given. This means you'll find your hard earned savings being whittled away for no good reason. For example, using your high street bank account/online payments service to transfer multiple payments to family or friends back home, could cost you an extra £1062 per year. That's the cost of eight return flights to Europe or a return flight in BA Club class to Sharm El Sheikh. What would you rather see your money go towards?

Caxton FX FastPay offers competitive exchange rates and no fees or commission for transfers of £100 to £10,000. It enables currency payments to be made at any time and live rates offer an opportunity to take advantage of currency volatility. Use it day or night, 7 days a week; it's an easy and cost effective way to transfer money overseas.

FastPay customers are also able to track progress of their payments online, meaning you can see when the beneficiary receives their payment. As 96% of all FastPay customers would recommend the system, you'll be safe in the knowledge that your money is travelling better.