Money Hacks Ep 54: How to save more when paying for overseas property investments

8:51 mins

Synopsis: In this fortnightly podcast series on Mondays, The Business Times and The Straits Times break down actionable financial tips.

This episode is aimed at how best to pay for property investments overseas. Do you use expensive banking services? Or new cheaper fintech-enabled money transfer services?

Mr Nilan Peiris is the London-based vice-president for growth for TransferWise, which has 1,600 staff members and about 150 in Singapore, and is also regulated by the Monetary Authority of Singapore.

He tackles our questions:

1. Does it really cost a lot to move money overseas via wires?

2. Understand why it is important to know about the transparency of the services you are using.

3. Why is speed important when you need to do time-sensitive good value property investments overseas?

Entrepreneur Kiyan Foroughi also comes on the show to talk about his own personal experience with money transfer services provided by banks and new fintech companies, and the big differences he has found when servicing property mortgages overseas.

Produced by: Chris Lim, Ernest Luis & Lee Kim Siang

Edited by: Adam Azlee

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