If you are an expat making international money transfers you should definitely consider the benefits of using a currency specialist.

To begin with, you'll save money by getting a better exchange rate on each and every transfer you make. On average, mystery shops undertaken in the media show that the high street banks charge up to 4% more to exchange your money.

Secondly if you use your bank regardless of whether you have a premier account, you'll be subject to a number of additional bank charges which include: - commission fees (up to another 2% of the amount your transferring, - transfer charges (usually £25 for each and every transfer) - and finally depending on where you're sending the money up to another half a percent bank receiving fees.

Most currency specialists will transfer your money abroad completely free of charge.

Fluctuating currency rates can seriously affect your wealth. For example British expats paid in Sterling but living in the Eurozone have seen the value of their salary decrease in the last 12 months by over 20% purely off the back of the weak pound. Currency specialists will allow you to lock into favourable exchange rates for up to 2 years protecting your money from adverse currency movements.

Last but by know means least there's the service aspect. Good currency specialists will provide you with all the help and expert advice you need in simple jargon free language.

Whichever country you're living in, the advice is simple. Don't let the banks cash in! Shop around and compare the rates given by your bank with an established currency broker.