Foreign exchange company

A foreign exchange company is a business that helps people send money to different countries. Think of it like sending a letter to a friend who lives far away, but instead of a letter, it's money!

When you want to send money to another country, you have to convert your currency (like dollars) to the other country's currency (like euros). A foreign exchange company helps you do this by giving you a rate that tells you how much of the other currency you will get for your currency.

For example, let's say you want to send $100 to your friend in France, and the exchange rate is 1 USD to 0.82 EUR. That means you'll get 82 euros for your $100. The foreign exchange company will take your dollars and give you the euros to send to your friend.

Foreign exchange companies make money by charging a fee for their service or by making money from the difference between the exchange rate they offer you and the rate at which they bought the currency themselves.

It's important to use a trusted and reputable foreign exchange company to make sure your money gets where it's supposed to go safely and securely.