With the uncertain market due to the COVID-19 pandemic, finance and mortgage brokers can now add to their income options through a partnership between the Finance Brokers Association of Australia (FBAA) and international money transfer company ‘Send’.

The service provides international transfers for both individuals and businesses at a rate lower than banks, with faster processing, usually next day.

FBAA managing director Peter White AM said brokers are often dealing with clients who need to transfer funds overseas or they may need to transfer money themselves.

“As brokers will be paid a commission, this will assist them and their clients.”

Send co-founder Ian Cragg said he was excited to support FBAA members and their private and SME clients globally.

“Collaborating and working together to help each other in times like this is as important as ever.

“By offering cheaper, faster and better international payments than the banks, Send helps thousands of Australians transfer money more efficiently and cost-effectively.”

He said brokers can promote the service to clients for many reasons, “including assisting an SME to pay a foreign supplier when importing, expats living in Australia, Aussies overseas, and real estate investors.

“An increasing reason at the moment given the current climate are money transfers to support family members around the world who are struggling financially with the COVID-19 outbreak.”

Mr Cragg said the response from brokers to date has been overwhelming.

The FBAA recently announced a broker support package to help members during the current crises, and Mr White appealed to brokers to always be looking for new opportunities to expand.

“We should take advantage of partnerships like this and keep increasing our services.”