What’s the difference between a personal and business money transfer?
As a company that supports money transfers in business and personal settings, it can be good to know the difference so you know which one is the right one for you.
Money Transfer – Personal
If you are sending funds from a personal account, you need to register as a private client. This means you will use your personal money account to transfer payments. This is great for individuals who are moving abroad and/or sending money back home, or purchasing a property in a different country for example.
And just because it’s personal, that doesn’t mean you can’t transfer large amounts of money at a time. CurrencyTransfer allows you to transfer large amounts across seas for your ease and convenience.
Money Transfer – Business
If incoming funds are coming from a business, you should register as a corporate client. Having a money transfer business account is great for any company types including charities, sole traders, and LLPs, which tend to have their own registration for the purposes of verification and compliance.
With a CurrencyTransfer corporate account, you avoid overpaying on money transfers for business purposes. With our competitive business transfer rates in over 25 currencies, you’ll save valuable funds needed for other areas of your business.
Find out more about our money transfers for business here
You can also have both! If you need to transfer money as an individual but also as a business, you can link multiple accounts under the same email address. And whether you’re opening a personal or a business account (or both), you will get an allocated Currency Concierge.
Still not sure which transfer account is right for you? Get in touch with your account manager or email us at: firstname.lastname@example.org.