Need to buy industrial equipment overseas in bulk? By using a dedicated international money transfer provider you’ll get the best bang for your buck.
From local shopping centres, restaurants and florists, to entrepreneurial startup businesses, factories and giant global corporations, every business type and size needs to watch their expenditure and save money where possible for a year-round healthy revenue.
A functioning business also needs industrial equipment. Whether you’re fitting out a new office space, buying a new coffee machine or updating earthmoving equipment, it’s essential to find a quality product that won’t cost a fortune but still lasts the long haul.
In this short guide we investigate how to buy business and industrial equipment, if purchasing overseas is cheaper than buying local and why using a dedicated international money transfer provider is the way to go.
Buying industrial equipment online
There are many forms industrial equipment used in the workplace and often the materials are large and strong, comprised of titanium and steel. Sometimes machines are needed to lift and move these types of materials, which could weigh tonnes.
While industrial equipment should be inspected every day to ensure it’s in the best working condition, in some cases equipment can break. If a piece of your industrial equipment is no longer in working order it should be stopped immediately and not used for any reason.
So where do you find its replacement? While you could source it locally, you could get a much cheaper deal by heading online to a suppliers or wholesale website.
To purchase your industrial equipment safely and securely online, look for the following:
- Australian .au websites. While it could be slightly cheaper buying straight from the supplier’s overseas website, if you’re able to purchase locally, go ahead.
- Global .com or .net websites. Check their online portfolio, social media, reviews and whether they ship to Australia.
- Check shipping costs. Australian and international shipping costs can add up and be expensive.
- Alternative payment methods (that are verified). If you’re buying from an overseas website or individual an international money transfer will mean you won’t have to pay any fees.
- Warranty. Check that the purchase comes with a warranty to cover your equipment in case something goes wrong.
- Refund/exchange flexibility. With any online purchase, knowing there’s the flexibility of a refund, return or exchange brings peace of mind.
Thousands of websites specifically deal in both business equipment and industrial equipment. These include:
Please note that these sites are suggested as a general guide. They may change in design or price and finder.com.au takes no responsibility for any of their changes.
Buying locally vs buying overseas
With such a diverse range of specific equipment needs on offer, you could end up paying far more locally than you would overseas. This is often referred to as “the cost of convenience”.
For example, a mechanical service workshop will often have to source unique parts for different customer requirements. If you work in a fixed industry like this, purchasing your equipment online from overseas is a cost-effective option if it’s not required immediately and you’re prepared to wait.
With the majority of manufacturing taking place outside of Australia (outsourced to China, India, South Korea, Thailand or Turkey) it makes sense to head straight to the source for cheaper industrial equipment.
Considerations when buying industrial equipment online
For individuals and businesses who plan on purchasing equipment from an overseas supplier, choosing an international money transfer over the bank or PayPal could mean you avoid paying extra. This provides you with a better exchange rate plus much lower fees or none at all.
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Benefits of choosing a dedicated money transfer provider
There are several reasons why you should opt for a money transfer when purchasing industrial equipment online.
- Flexibility. Money transfers are desktop-, mobile- and tablet-friendly so that you can transfer money on the go as long as you’re connected.
- Secure data. Provided you do your research and compare services, dedicated online money transfer providers are safe and secure, encrypting your financial data to protect sensitive information.
- Merchant/software integration. If you need to keep a history of your industrial equipment purchases or invoices, some online money transfer providers integrate well with accounting software like XERO.
- Low exchange rates. Unlike banks that may use an outdated exchange rate, money transfer companies work to find the best exchange rates possible. For example, CurrencyFair have an open market where users can propose their own exchange rate deals.
- Lower fixed fees. Many dedicated money transfer providers offer their services fee-free.
Free international money transfer calculator
Get favourable exchange rates and lower fees with a dedicated international money transfer service provider. There’s a world of options out there but we’ve made it easy for you.
Use our free international money transfer calculator for new business leases to find a provider suitable for your startup. Register for a service by clicking “Go to site” or “More” to learn more about a product.