The best exchange rates in 2017

In 2017 I need personally to transfer over $500’000. I know it’s a big amount. Actually it’s a 30 year investment so it’s very important for me. My problem in 2016 has been the fact that even though I asked many banks about the rates they offer I always got the same fu***** answer.

The exchange rates offered by banks are:

  1. Approximative, because they have no idea how much it’s going to cost
  2. Tricky, because they know they charge variable hidden fees
  3. The worst in the market, because they need to make money to sustain thousands of employees

Now that it’s said, here is how we are going to sort the best exchange rates for 2017: either the fastest or the cheapest.



The fastest exchange rates in 2017 are the best


The fastest way to send money abroad:

  1. Is through a money transfer operator
  2. Needs to compare rates using a money transfer comparison service first
  3. Almost instant
  4. Expensive but far less than with a bank


Over the last 5 years we managed to reduce the cost of money transfers by 20% and it’s going to continue in the future. Using a money transfer comparison helps. This said, it means that money transfer services will need to charge money for additional services such as doing a money transfer very fast. The fastest exchange rates in 2017 are going to be instant. And those are the best exchange rates you can find because it’s a new option and it’s not going to be that expensive.


The most cost-effective exchange rates in 2017 are the best

When we state that the cost of money transfers has been reduced by 20% the problem is the fact that the worldwide average cost for transferring money abroad is 8%: it’s still huge because money transfers to and from Africa cost around 12%. There are still huge efforts to do. The consumers have to compare before using money transmitters so that it will drive the costs down.


As a conclusion we can say that the best exchange rates in the year 2017 are going to come from fintech, they are going to be fast and cost-effective.

How to get the best exchange rates?

How to get the best exchange rates? This is the typical question people living abroad ask themselves. It’s even more searched when those people need to make a big transfer.

1/ how to get the best exchange rates offline?

I wonder why there are still people looking to transfer or exchange some money online as I personally don’t use cash anymore. Even though I’m not a user of exchange rate offices the only way to get the best exchange rate is to simply cross the streets and compare the rates. You can expect 5 to 6 hours for getting information about 15 money transfer offices. It’s a mess and you will get screwed because there are huge hidden fees in the exchange rate.


2/ how to get the best exchange rates online?

There are more than 12’000 money transfer operators in the world. You are going to need 12000 hours to understand them, find them and compare them, except if you use a simple money transfer comparison service which would reduce the searching time down to 10 seconds. No doubt. Money transfer comparisons which are online are going to save you a lot of time…and money?

3/ how to get the best exchange rates? Offline or online?

According to the world bank money transfer operators which operate offline charge 3 times more variable fees on the exchange rate. In order to get the best exchange rate you will need to go online. So simple. So easy. So cost-effective. Don’t hesitate.

The best way to get the best exchange rate offline would be to cross the streets from one exchange rate office to another, crossing the cities too, and compare. The best way to get the best exchange rate online is to use an online money transfer comparison service. And among them where you can get the best exchange rate, it’s online because there is no structural cost to support and there are many special offers.

Imagine a dinner you only talk about the exchange rates (Part 2)

This article is the second part of a full story about the exchange rates. The idea is to imagine a dinner where you can only talk about exchange rate, nothing else. And see what happens.

You can read Part 1 here


The wife: Yes, because the canadian dollar is very weak compared to the pound, trust me, you earn more.

The sister: No way it can be real.

The husband: Did you consider the cost of living before telling that?

The wife: Yes, sure. The cost of living is terrible here and in the Canada. So there is no impact.

The sister: Did you rest after your flight? I guess you don’t understand how exchange rates works anymore.

Here is how it can look like after this king of talk


The kids have watched 10 videos about the exchange rates and how it impacts the world. They are intellectually tired ang go back to table when they see that the cake is coming. The house is a mess but they succeed to sit.

The adults looks more peaceful. It’s like they said everything they had too. Except the sister of the man, she is crying, and saying her whole life is shit.

One of the kid (the older, this little genius graduated with 2 years advanced) stands up on his chair and starts to speak.

The cake is here! YAY!

Before this, I’d just like to say something… What if, we would all have one and only one money, so the exchange rates would disappear? No more fights about how the euro is better than the pound, or how because of the canadian dollar value, you earn more

All the adults are speachless. What if the kid were right, actually? Then, the crazy uncle says : it’s a nice idea, sweetie, but it does not exist and it won’t never exist. For a lot of reasons that you can’t underst…

Yes, it already exists! This money is bitcoin. And if we were all using it, we would have had a better christmas! I could even have played video games, maybe!

Imagine a dinner you only talk about the exchange rates

During this christmas period, I wanted to come to you, lovely readers, with a new funny kind of article. We are all exchange rates experts here, so I thought it would be funny to imagine a christmas dinner where you can only talk about the exchange rates.


Ok, let’s take a small family to avoid to write a full novel.

Here are the main people: the old fashion way grand-father, the expat couple coming back for christmas (the man is from the family), the crazy single uncle, the sister of the man and her husband, living in their home country; all the kids.

The family lives in UK, and the expat couple in Canada.

The beginning of the exchange rate dinner. Looks pretty nice, huh?


As each talk about the exchange rate, it would start the same way: have you seen the dollar value today? Crazy how it dropped, right?

Yes, it’s always the same with the dollar. It keeps being very volatile. I don’t know why.

Well, I know why! Says the wife of the man. One word is enough to understand: Trump.

The Uncle: What Trump? What do you have against Trump?

The wife: I’m just saying that if the dollar is so volatile since 2 months, it’s because of him. Markets went crazy in november, and it never stopped. It’s hard to find trust in these currency. In january, Trump becomes officially president, we will have the kiss kool effect, 10 time stronger.

The Uncle: Trump is right from the beginning. We need a guy like him here. After the Brexit, he would go further.

The kids don’t talk, because they don’t even know what exchange rate means. They are all still youngs and they only want to play video games. Poors.

The husband of the wife (brother of the Uncle): You don’t know what you are talking about, please stop.


The starter is over and the main course just arrived on the table.

The sister of the man, to his wife: So… How is life in Canada? You earn a lot, right? It must be easy for you and the kids. La bella vida, as would say our italian friends.

The wife: Well, you know, according to the exchange rate between pound and canadian dollar, I can tell you it’s very expensive to come here for us. If we consider currencies value, you earn more than me.

The sister: What?? I earn more than you? HAHAHA. This one is the best.

The kids don’t want to eat anymore, and asked to go to watch a Youtube videos to help them understand what is the exchange rate.

The crazy uncle starts to say no matter what, it’s the Pakistan’s fault. Her sister tells him to drink slower. He disagree and get a shot.

The part 2 is coming soon with the end of the main course and of course, the dessert. I hope you enjoyed it!

Spoiler ALERT: The fight is coming…. 😉

Yes because you know that exchange rates can be a very sensitive subject.

Justin Bieber tips to get the best exchange rates for Canada

Justin Bieber tips to get the best exchange rates for Canada

Wondering what JB has to do with best exchange rates right? I know it looks like another catchy title made for you to click but it’s not! First of all, did you know that the singer is Canadian? For no reason I thought he was American! As an international popstar, there is no doubt that he gets paid in USD most of the time and probably need to make transfers to Canada right? That’s when he needs to get the best exchange rates!


How do you know what best exchange rates are?

If you remember a bit of your economics classes in high-school, you probably remember what exchange rates are: one currency value defined against another one. Indeed, there is nothing like an absolute value of a currency. These values are defined on the foreign currency market. As any market, it is very volatile and exchange rates fluctuate constantly because of the law of demand and supply or external events such as presidential elections or wars.

Still following? So you might be wondering how the notion of “best exchange rates” can exist. Indeed, it is quite relative and actually depends on a certain period. It would be more correct to talk about the best exchange rates within the last 2 weeks for example.

How to get the best exchange rates for a transfer?

When it comes to money transfers, exchange rates are important, especially if you are sending large amounts of money (just like Justin probably does!) Imagine if JB needs to send USD10,000 to Canada.

Mid september the exchange rate USD-CAD was 1/1,28 and today it is 1/1,35. Image he had made his transfer in September, he would have potentially lost USD700.

Ok, it might be nothing for him, but still!

However, you might told me that you do not have time to wait for the exchange rate to be perfect and therefore you need to find a way to compare money transfer operators and make sure you get the best exchange rates you can. Here is a great comparison platform that does the job for you, comparing them in real-time.

How the best exchange rates can change your life !

Seek for the best exchange rates like seeking for gold

Alright, seeking for the best exchange rate as if you were looking for gold might seem a bit exaggerated. Well this actually depends on which kind of person you are. Indeed, if you were living in Switzerland in January 2015, looking for the best exchange rate could have saved you 20% if you had waited for beginning of January 2015 vs end of December 2014 to trigger any payment from Swiss Francs to euros.

The same kind of phenomenon occurred recently with the Brexit. Here again, the impact of the exchange rate can be capital for many people: retired UK citizens living abroad who receive their pensions in pounds, people who have invested abroad with a loan in pounds….


Though these 2 cases seem to be extreme, we can also easily picture how constantly looking for the best exchange rate is important for everyone.


Everyone should constantly look for the best exchange rates

In general, the impact of currency fluctuations is between 1 and 5% each month! This meaning that if you were to transfer dollars to euros, euros to dollars, dollars to Indian roupies… either way, you could save between 1 and 5% of the amount sent. Therefore, it is now easier to picture how everyone is concerned. Take migrants who regularly send small amounts back to their siblings stayed home. If we alleged a family sends 300 € each month back to its family in India, if they save 5% on each transfer, then waiting for the best exchange rate will have saved them 180 € in one year which represents more than half the amount they send each month !

We could also take the example of parents paying for their children tuition fees abroad. If they have to pay for onerous Management/Business schools for example, they even saving “only” 1€ at each transfer will represent a consequent amount of money at the end of the day.


Start using the best exchange rates now!

Following the exchange rates is not sexy at all. Even people working in finance would easily be fed-up of having to check currency evolutions every day. This is why I use and recommend an exchnage rate tool which a friend suggested to me.

Now you can start saving between 1 and 5% each time you want to send money from one currency to another! Enjoy !