When you are deciding on which company to use for your money transfer, of course you need to do your home home work. After all your after the best rate possible, but you don’t want hidden charges and you certainly don’t want to compromise on service delivery and security.
So just how do you decide on which money transfer company?
There are some basic rules which you follow:
- Are they an FSCA registered company? – remember you can only deal with an entity that is an FSCA registered company. This is easily checked as they must state on their website and other marketing material that they are registered. Avoid all companies that are not able to provide you with their registration.
- Are they a registered company? – you may find individuals who are registered and some will be able to supply you a good service, the odds however are that you will get a better rate using a larger registered company than a small ‘one man band’.
- Which bank do they deal through? – all money transfer companies must deal through an authorised dealer. This is ultimately who handles your money. Ask the question ‘who is your authorised dealer? Do you know the bank? Are they credible? Do they have branches in South Africa?
- Beware of introducer sites – the internet has opened up a world of opportunity, not all of of it good! There are many sites out there – known as affiliate sites which simply operate to attract clients which they pass on to money transfer companies. They of course do this for a reason and the reason is they receive a commission payment. Someone of course must pay for this commission and it will come as no surprise that this person is you. This can only lead to worse rates of exchange for your money transfer.
- Who handles your money – money transfer companies should not handle the money you are looking to transfer. In laymans terms ask who you transfer your money to – it should be to a client account at the authorised dealer.
These are basic rules that are good practice to follow but of course there is more to it than that.
But how do you judge service standards?
It’s very hard to judge service standards after all most of the time you only know for sure when you have used the company – and by then it may be to late. Like us, we are sure you have yet to meet a company that boasts of an average or poor service standard. This is where independent accreditation becomes so important. ISO 9001 is a worldwide standard that is governed by the Independent Standards Organisation. It has a comprehensive set of standards that those accredited with ISO 9001 must meet. Importantly it is not a once off process but an annual one, whereby a strict audit is carried out to ensure ongoing compliance. What it means for potential clients is that they have some reassurance of the company they are dealing with. Companies with ISO 9001 commit considerable money and resources to meet this criteria and it clearly demonstrates their commitment to client service.
And what about security?
The security of your money and personal details is imperative. Once again you can look for an external accreditation, in this case ISO 27001. The same process is carried out on an annual basis to ensure ongoing compliance giving clients the reassurance they need.
Dealing with Incompass for your Money Transfer
Incompass is an FSCA registered company and we deal with Investec Bank as our authorised dealer. We do not handle the funds you wish to transfer and they are deposited in an Investec client account. This is our website and we do not have affiliate websites where you suffer from a commission payment.
Further our commitment to you is shown and proven by our investment and accreditation in holding both ISO 9001 and 27001.
So not only can you access the best rates and service but also deal with a company that provides you with the reassurance of money transfers with ISO 9001 and 27001 Accreditation.
We strongly believe our business is built on 3 important and basic principles:
- Transparent market leading rates,
- Great service,
Try for yourself
Registration is free of charge and carries no obligation, Call us on + 27 (0) 21 424 2496 or e-mail us here. You are also welcome to come and met us at our offices in Cape Town and Rivionia or we will gladly come and see you. Just give us a call to set up an appointment.