Exchange Rates

Read the Flash Payments articles on the topic: "Exchange Rates".

Exchange Rates

Australian Dollar teetering near 6-week highs

The Australian dollar is on a tear. What's behind the rally and, more importantly, can it last?

International Money Transfers

Christmas is coming… Why it’s better to send money instead of gifts to family overseas.

With Christmas around the corner, it’s almost time to start thinking up gift ideas. But when you are buying for loved ones who live overseas, there’s more to consider when choosing the perfect present. Take the stress out of Christmas shopping On top of worrying whether or not

Exchange Rates

It’s Official: ACCC finds Australian banks are overcharging customers for international money transfers

A final report from the ACCC found that Australian banks are charging customers millions too much for international currency services. The inquiry by the competition regulator determined that customers of the ‘big four’ banks, those who use travel money cards and people who exchange currency at the airport *could all

Exchange Rates

Don’t Pay ~11.0% More to Convert Your Money at the Airport

It's widely known that airport currency transfers are a bad idea. But just how bad? The truth may shock you....

International Money Transfers

Don’t Leave Your Exchange Rate to Chance | Flash Payments

Gambling might be fun, but leaving your exchange rate to chance could cost you an extra 4-6% on your next international money transfer.

Exchange Rates

How to send money overseas... without using Western Union or MoneyGram | Flash Payments

Thanks to advances in technology there are now a wide-range of options for making international money transfers from Australia.

Exchange Rates

Weaker AUD makes Overseas Travel more Expensive for Aussies in 2018

If you are heading overseas, the level of the Australian dollar is going to have a big impact on the total cost of your trip. A weakening currency makes travelling overseas for Australians more expensive.

Exchange Rates

How to get the best rate with our Exchange Rate Calculator

We take a closer look at how to find and read currency exchange rates, as well as how to convert currency using an exchange rate calculator.

Exchange Rates

How do I compare foreign exchange rates?

Currencies are exchanged around the world in a 24-hour cycle every weekday. Why? Apart from tourists and travel, there’s international trade (import/export of goods & services) and investment. And of course, people overseas who send money to support family and friends back home. There’s a constant fluctuation

Exchange Rates

3 steps to getting the best currency exchange rates

To be sure you are getting the best currency exchange rates, you must know what the current real market foreign exchange rate is and whether any upfront or transaction fees are applied to your transfer, including fees applied by the receiving back to the recipient's account. Do your

International Money Transfers

The great currency deception - uncovered

When it comes to foreign currency transfers, especially by consumers and small to medium-sized businesses, what you find are big financial institutions bouncing your money around the world like a pinball from one fee-charging bank to another, using a complex and expensive relationship network – a desperate stand-in for an efficient

International Money Transfers

Take charge and save on your foreign exchange transfers

Sending money overseas can be confusing. Let's break it down... Flash Payments makes foreign exchange easy, fast and affordable. This is in stark contrast to the banks, where global payments cost more, take more time, and the routeing is opaque. With Flash Payments, users pick the date; pick

Currency Conversion

The Real Cost of Foreign Exchange Conversions - What the banks don't want you to know.

Do you know what the actual foreign exchange conversion rate is? You probably know the conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, the market rate is the only real rate at which

Exchange Rates

The real cost of money conversion

Do you know what the actual foreign exchange money conversion rate is? You probably know what conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, the market rate is the only real rate to

Currency

US Treasury's Mnuchin tells IMF to monitor currencies

US Treasury Secretary Steven Mnuchin called on the International Monetary Fund to provide "candid analysis" of exchange-rate policies in member countries. Mnuchin spoke by phone with IMF Managing Director Christine Lagarde in what was among the first contacts between the fund and the administration of President Donald Trump,

Australia

The Australian dollar - where to next?

The Australian dollar has seen an impressively strong period for the past 2 months, trading from 0.7164 in late December to the current 0.7664 USD per AUD. According to analysts at HSBC, US President Trump has been a key factor behind recent US dollar weakness. They warn that

Currency

Foreign Exchange and The Big Mac index

THE Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise

Exchange Rates

Foreign Currency Transfers - the great deception - and how to beat it

Big institutions bouncing your money around the world like a pinball to multiple fee-charging banks using a complex and expensive relationship network – a desperate stand-in for an efficient transfer solution – all operating at your expense and hidden from your scrutiny by a global agreement to keep the system totally opaque

Exchange Rates

Business chiefs more cautious in 2017: Ai Group

Fresh from a year that delivered major political shocks and proved tougher than expected, Australian business leaders are taking a cautious approach to 2017. Fewer chief executives expect to see business conditions improve than a year ago, though there are more forecasting a stable environment, according to the latest CEO

Exchange Rates

Australian Dollar extends gains above US74.5c

Australian Dollar extends gains above US74.5c The Australian dollar was trading at its highest levels in a month Thursday after the greenback slumped amid fresh skepticism in global markets about the Trump White House’s economic policy intentions. The gains make the Australian dollar one of the best-performing global

Innovation

The world is edging closer to becoming cashless

Vendor and customer payment services company Klarna CEO Sebastian Siemiatkowski writes in Wired that In 2010, 40 per cent of Swedish retail transactions were made using cash; by 2014 it was down to 20 percent and it's still falling. E-commerce, in contrast, is growing. The huge impact of

Banks

How to stop banks behaving badly

Stephen Bartholomeusz writes in The Australian "On the eve of Christmas Deutsche Bank and Credit Suisse reached a settlement agreement with the US Department of Justice for their roles in the subprime crisis that triggered the wider financial crisis in 2008. There were sighs of relief all around that

Currency

How the world's currencies got their names

From the pound to the peso, the ruble to the lira - you may think the names of currencies have nothing in common. A recent blog post from the Oxford Dictionaries website showed that many of the names the world uses for its money have similar origins. Read more in

Exchange Rates

Foreign Exchange Calculator: The Real Cost of Money Conversion

Do you know what the actual foreign exchange money conversion rate is? You probably know what conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, the market rate is the only real rate to

Exchange Rates

The $5 trillion trap - and how to bridge it

Every day around $5 trillion is traded in foreign exchange. While much of it is speculation (trading only for the sake of making a profit), foreign currency transfers are essential to enabling global trade and remittances keep families, and in some areas countries afloat. There are many factors driving foreign