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What is money exchange?  Money exchange is a term that can be used to describe a range of services available today.  For example, if you need to transfer a certain amount of money abroad to a family member or friend, you will most likely need the money to be exchanged from your currency to theirs.  This means you need to use a specialist money exchange service – it is not as simple as making a regular bank – to – bank transfer.  There are many money exchange services available today, both on the high street and online.  The main thing to look out for when choosing a money exchange service is their exchange rate.  This applies to all currency services – the exchange rate varies and will change each day.  You can look at the base exchange rate by looking at a currency chart online.  They change as the various sessions of the foreign exchange market open and close around the world.  You will need to get the best value exchange rate to make your transfer as cheap as possible.  The easiest way to get the best rate is by comparing money transfer providers online.  There are lots of good independent financial comparison websites which list these out neatly and clearly, making it easy to weigh up the pros and cons of each.