Category: best dollar exchange rate

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Breakdown of costs to find the best euro exchange rate

We need some transparency in money transfers. Rates are changing every day, every hour, every minute. Getting the best exchange rates depend on:

  • The payment option you choose
  • The reception option you use
  • The amount (more or less large)
  • The speed

Here we are going to focus on bank to bank money transfers (through wire) but we will split the analysis between small and medium amounts and bigger amounts. This is according to us the most important parameter that we have to consider to get the best USD, GBP and EUR exchange rates.

 

Small & medium amounts: the breakdown of costs for the best EURO exchange rate vs USD & GBP

 

1000 euros for GBP-EUR, the 18.12.2016 at 8pm (source: moneytis website):

  • CurrencyFair: 3 euros
  • Xendpay: 4 euros
  • Transferwise: 5 euros
  • Azimo: 11 euros
  • Worldremit:12 euros

 

1000 euros for USD-EUR, the 18.12.2016 at 8pm (source: moneytis website):

  • Xendpay: 6 euros
  • Transferwise: 7 euros
  • CurrencyFair: 11 euros
  • Azimo: 12 euros
  • Worldremit: 15 euros

 

Whatever we say, we have to remember that costs change every minute and while other solutions are on average the most cost-effective, for 1000 euros there are 5 very competitive operators.

 

best-euro-exchange-rate-breakdown

Big and large amounts: the breakdown of costs for the best euro exchange rate vs USD & GBP

 

20’000 euros for GBP-EUR, the 18.12.2016 at 8pm (source: moneytis website):

CurrencyFair: 88 GBP

CurrencySolutions: 95 GBP

TransferGo: 102 GBP

TorFX: 103 GBP

Transferwise: 108 GBP

 

20’000 euros for GBP-USD, the 18.12.2016 at 8pm (source: moneytis website):

CurrencySolutions: 106 euros

TorFX: 126 euros

TransferGo: 131 euros

Transferwise: 140 euros

CurrencyFair: 148 euros

 

While there were some cost-effective actors for small and medium amounts, the operators providing clients with the best euro exchange rate for big amounts are different.
We have to be aware and get knowledge about the behavior of online services. There is a need for transparency that we can solve only if there are services here to bring transparency, like money transfer comparison service!

best-dollar-exchange-rate

Why all Americans should spend their holidays in Europe today ?

No need to precise that for Americans, having the best dollar exchange rates significantly increases their purchasing power abroad. This might push them to go on holidays outside the US ?

Best dollar exchange rates ever to travel to Europe.

I remember a couple of years ago when many Europeans used to love coming to the US to do their shopping. At that time, the best dollar exchange rates were in favor of the Europeans, not the Americans ! I remember flying to New-York myself in 2008 when 1€ represented 1,60 USD ! No wonder we used to love travelling to the US & go shopping as everything was so much cheaper than in Europe !

Well, it seems that the best dollar exchange rates are currently in favor of our American friends. The latter have won 45% purchasing power when coming to Europe in 2016 vs in 2008 thanks to the positive  evolution of the dollar VS the Euro…

Therefore, during the 10 last years, it seems it has never been so advantageous for Americans to travel to Europe as it is today.

 

best-dollar-exchange-rate

What are the concrete impacts of the best dollar exchange rates on Americans holidays in Europe ?

Well, no need to be a magician in maths to picture the positive impacts of all this !

Take a hotel room in Paris for example for which prices haven’t really evolved between 2008 & 2016. Well a room at 100€ per night used to cost 160 dollars in 2008…whereas it will “only” cost 110 USD in 2016.

Every aspect of Americans holidays in Europe will look alike today. In the end, they will save 45% compared to what their holidays would have cost them 8 years ago!

As you never

In order to not miss the best dollars exchange rates, you can use the following tool which is simple & efficient to enable you maximize the value of your dollars.

In the end, just make sure you go on holidays at the right moment! It works whatever the currency !

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