WHETHER you are preparing for a holiday abroad, or making business payments, it pays to know what your options are when it comes to foreign exchange (forex) services.Whichever category you fall in, it’s safe to say that making that trip to exchange money can be time consuming and you can never be sure if you are getting a good rate.Doing it online is the fastest and most convenient way of changing currency today. How it works is; you order the currency of your choice online, pay online, and collect it at the pre-determined pick-up locations.Making your forex transactions online saves you not only the time or hassle, it also allows you to keep abreast of currency rates in real time.Here are some amazing benefits you get if you choose to do your forex transaction online with eForex:Most online platforms are typically run by the larger Money Services Business operators, and they offer you better rates for your currency exchange.Such foreign currency wholesalers buy currencies at the inter-bank rate and sell it at a lower margin than banks or money changers, allowing their customers to save money on their foreign-exchange related payments.On top of this,has special deals on Mondays called “Hot Currency Deals” where they offer significantly discounted rates on select currencies. This isn’t something you’ll find at the physical money changers.It is also more convenient to exchange money anytime, anywhere rather than run around looking for a money changer. You can set your rate alert feature so you won’t have to miss out on a good rate again.As foreign exchange rates widely fluctuate according to the ever volatile market changes, you can be well informed on such rate changes and quickly take advantage when a desirable exchange rate arrives.Foreign exchange platform like eForex allows you to monitor the rate of your preferred currency via email alerts. You can then decide to make an immediate transaction accordingly.You can pre-set the rate you are looking forward for and you will be immediately notified via SMS, e-mail or an app alert when that specific rate is available.However, you may need to wait until the desired rate is achieved – which may come late or never come at all.

Source: The Star January 15, 2017 09:38 UTC