WorldFirst is one of the most popular money transfer specialists, globally.
If you're looking at sending money overseas, you might be wondering exactly how they
work. We're going to show you. But first we're going to take you through some
things you need to know about WorldFirst, what you need to make an
international money transfer with them and take you through the process of
setting up an account and making a transfer. If you can stick around for the
whole video, at the end we'll share our top tip for making sure you get the best
exchange rate from WorldFirst.
WorldFirst launched in 2004 in South London.
Since then it's grown globally to now have offices in the US, the UK, Australia,
Hong Kong and Singapore. They're a really secure option when it comes to
international money transfers as well. With an Australian Financial Services
License and regulation by the Australian Securities and Investment Commission.
There is a lot to consider when you're making an international transfer, so here
are four things you need to know about WorldFirst. They've recently eliminated
their transfer fee and the rate they offer you will generally be better than
what you could get through your bank. They do have a quite high minimum
transfer amount though, $2000 Australian dollars. So, if you need to make a small
transfer, they may not be the best option. Their website is really easy to use and
it's very quick to organise setting up an account with them so that you can
make transfers. Just keep in mind that the transfer time can sometimes be
slower than the bank, so make sure you have a few days up your sleeve.
Okay now that we know a bit more about WorldFirst let's have a look at exactly
what you need to make an international money transfer with them. Firstly, make
sure you have identification handy. This should be photo ID and something that's
proof of address. Secondly, your payment. WorldFirst accept telephone or online
banking and they accept direct debit but just for their corporate customers.
Either way, make sure you have all these details available for you so you're
ready to make a payment. Make sure you have the funds available. The transfer
cannot be completed until you have paid WorldFirst. And finally, make sure you
have some time up your sleeve. The transfer itself can take two to three
business days to be completed so it's important that you allow for this. Okay
now you've got everything you need to know, let's get straight into how you set
up an account with WorldFirst. To start, head to their website. On the WorldFirst
home page you can see a currency converter which you can use to find out
the currencies they offer. You can also see information about exchange rates and
links to articles. When you're ready you can head to the top of the page and
select 'sign up'. First up WorldFirst want to know what kind of account you
need. You have the option of opening a personal account, a business account or
an online sellers account. Select the account that best suits your situation.
Now you'll start to fill in your personal details. In this first step
you'll provide your name and email address and create a password. Make sure
the password is unique to any others that you use. Then you'll provide your
mobile number, make sure this is correct in case WorldFirst need to contact you.
You can choose whether to subscribe to regular updates from WorldFirst and
agree to their terms and conditions. You can find a link to these in our
description below. The next step is where you provide a bit more information about
yourself. Your birthday, occupation and residential
address. Again, make these details as accurate as possible. Now you'll start to
fill in information about your needs. This means the countries you're sending
money to, the currency pairs you require and how much you expect to transfer in
the next twelve months. Finally, they'll ask how you
heard about WorldFirst. If it was via this video, you can say thecurrencyshop.com.au
Read through their terms and conditions and agree to
continue. Next is identification. You'll have the option of providing your
passport, driver's license or Medicare card. Okay, you're nearly done. WorldFirst
will begin processing your application and let you know when it is ready to use.
In the meantime you can start exploring your account. When you log into your
account for the first time WorldFirst will ask you to set up some security
questions. You will be asked one of these questions each time you log in so make
sure you make them questions and answers you can easily remember. And you're in!
While you wait for your account to be verified you can add recipients and
assess exchange rates. When your account is verified, on the top left corner you
can see 'transfers'. Click on this to make an international money transfer. The
first step is selecting the currencies you're transferring to and from. Now
you'll fill in the recipient information as well as the amount you want to send.
WorldFirst show you a rate preview which gives you an idea of what the
exchange rate might be when you complete the transfer. The next step involves you
telling WorldFirst how you're going to fund your transfer. WorldFirst only
accept bank transfer or telephone payment for personal transactions. They
don't accept credit cards or Bpay. The final steps will be for specifying the
details of the transfer and then confirming the final rate. Once you have
confirmed the order, you will be obligated to make the transfer to WorldFirst.
And that's everything you need to know about making an international money
transfer with WorldFirst. If you have any further questions about the process
please just leave them in the comments below. So what is a number one tip for
making sure you get the best exchange rate with WorldFirst?
Well they don't charge a fee for making a transfer but they do put a margin on
the exchange rate. This means that you don't get the rate
you'd see on Google or XE when you make a transfer with them. If you use the link
in the description below, you'll actually get a better rate than if you went
directly to the WorldFirst website. Now, full disclosure we do get a referral
fee from WorldFirst if you use this link. But it means that you get a better
rate, which means that your money goes further when you make an international
transfer. If you found this video useful please like it, it would really help us
out. And if you need more information about exchange rates or international
transfers or currency subscribe to our channel. If you have notifications turned
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