GlobalWebPay, International Money Transfer Service With No Extra Bank Taxes

Online, January 18, 2011 (Newswire.com) - Until now individuals needing to send smaller amounts of money overseas have been disadvantaged, facing higher fees and uncompetitive Foreign Exchange (FX) rates, when compared to corporates or customers who send larger amounts.

GlobalWebPay is set to change all of this. Now anyone sending any amount over £25.00 can get competitive FX rates and only pay a market leading transaction fee. The service is fully transparent: there are no set up fees or monthly fees and customers receive a full breakdown of costs and foreign exchange rates prior to executing their payments.

Unlike other services in the market, GlobalWebPay is a fully automated online remittance service which negates the need for agents and other middle men. GlobalWebPay passes these cost savings directly to their customers.

Customer money is collected domestically by debit card or bank transfer from the sender and then paid domestically directly into the bank account of the recipient. Multiple payments can be paid for in a single "Checkout". Domestic payouts allow much lower fees since transfers are not sent internationally.

The service is available in over 30 countries including the Euro zone, USA, South Africa Australia, New Zealand & Singapore and supports 16 currencies. Canada, Lithuania and Switzerland will be added before the end of December. Hong Kong, South Korea, Taiwan and Thailand will follow early in the New Year.

Users can register and send a single transaction up to £500 within minutes - £75 of which can be funded by debit card. For larger amounts or repeat transactions, a simple online identity check is completed and then users are able to send up to £10,000 per month.

GlobalWebPay's system is robust, reliable and secure. Customers receive regular status updates on their payments so they know exactly where their money is each step of the way.

The transaction fee is a flat £4.75 - whatever the amount sent.

For Further Information and Press Enquiries please contact: Nick Dunlop

Email: nick.dunlop@globalwebpay.com
Website: www.globalwebpay.com
Telephone: Mobile: +44 (0) 7717 436 939 / Office: +44 (0)207 631 2258

Background information on typical users:

 Overseas workers sending money home to support their families - according to the Office for National Statistics nearly four million people working in the UK between July and September 2010 were born abroad.
 People based in the UK sending money abroad to pay for goods or services and for gifts to relatives
 People funding students studying abroad. 10,300 UK students were studying in the EU under the Erasmus programme during 2007/8.
 People paying bills for properties overseas. 300,000 properties were owned in 2009 by UK citizens in Spain, France, USA, Portugal & Italy