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One of the most overlooked aspects of planning a destination Wedding comes down to $$$ – how to pay for your suppliers, how to exchange money and how to ensure you don’t end up paying exorbitant fees.
Dealing with overseas Wedding suppliers can be daunting, especially if you don’t speak the language; so make sure you read these seven tips to help save yourself time, money and stress.
1. Know Your Exchange Rates
Spending a few hours researching exchange rates can save you big bucks when it comes to paying for your Wedding. Don’t assume that the only option for exchanging money is through the big banks, as often times you’ll find that their exchange rates are quite poor. Online transfer service providers can often offer better exchange rates and friendly service!
2. Read the Fine Print
With international money transfers, there can be nasty hidden fees, so it’s important to read the fine print. Look for a transfer service providers or bank that charges one flat fee, as this will ensure there’s transparency around exactly how much you’re up for.
3. Check With the Other Person
Sometimes the other person’s bank can charge a sneaky fee too; so it’s essential that you ask your supplier whether their financial institution charges to receive international transfers.
4. Check the $
It may seem obvious, but double check what currency your quotes or invoices are in; $500US is a lot different to $500AU and the Wedding entertainment that you assumed was a bargain, might actually be costing you a whole lot more than you initially thought!
5. Consider Credit
Consider paying your invoices using your credit card; not only can it reward you with points or awards, but most credit cards also come with purchaser insurance, meaning if your overseas supplier falls through, your bank will probably refund you the money. If you are not using credit card, look for an online money transfer provider or bank that allows direct debits or BPAY.
6. Research Insurance
If you’re having an overseas Wedding, not only should you purchase travel insurance, but you should seriously consider insuring the entire Wedding. This will give you the peace of mind that if anything does (heaven forbid) go wrong on the day, you’ll be covered.
7. Get Local Assistance
Having a local Wedding planner will be a life-saver for destination Brides. Not only will they be your eyes and ears on the ground, but they can also recommend the best local suppliers, make sure you’re not being overcharged and coordinate all the legal procedures of the Marriage.
This post is sponsored by OzForex Limited trading as OFX (ABN 65 092 375 703) and contains content advertising OFX’s products and services. For more information and to read OFX’s Product Disclosure Statement, please visit the OFX website.
