Top 5 Reasons to use a Foreign Exchange Specialist for your Corporate Foreign Exchange Payments

The value of international trade conducted by small and medium sized UK businesses is estimated to be around £700bn. This figure is growing in an always-on, face-paced world with many more accessible opportunities than ever before. Companies are also streamlining their financial processes, making it easier to deal with overseas business, increasing the need for foreign currency exchange services.

Medium and large companies tend to feel comfortable working with big high street names for their traditional banking. However, these banks are now struggling to meet customer demands due to ageing inflexible legacy IT systems. These systems lack functionality, making it difficult for the businesses to send money abroad and work concurrently with multiple currencies.

The answer? You can opt instead to use Moving Currency for all of your foreign currency exchange services.

To help you out, the team at Moving Currency have put together a few reasons why making the switch to a broker can help your business save time and money.

Banking Is Expensive with Hidden Charges

We all know that banks make huge profits on transactions, particularly foreign exchanges. A transaction usually contains an extra charge for simply sending money, as well as fluctuations in charges when the exchange rate goes up for down. Charges should be transparent and pricing consistent to avoid any hassle. So much time is wasted if you need to constantly call your bank to negotiate pricing on exchanges.

With a broker, you can purchase currency upfront, rather than holding out for an exchange rate that may never appear. This guarantees a fixed rate when transferring any funds at a later date. This also allows you to receive better rates. With an online account at Money Currency, you can then manage all these payments to best suit your needs.

Your dedicated account manager

There’s nothing worse than calling your bank and wasting time explaining your situation again because you  speak to someone different each time. Moving Currency gives you an experienced account manager who is dedicated to helping your business with all foreign currency exchange services. You can open multi-currency accounts, transfer balances between currency accounts, pay suppliers and invoice clients in local currencies.

Your account manager can keep you up to date with the latest exchange rates and provide you with a central contact point, whatever the task. This takes away the hassle of what currency needs purchasing and when.

Avoid currency risk

Wouldn’t it be a dream if you could fix your currency rates for up to a year, avoiding any future payment mishaps? As your financial broker, we can help you develop a strategy that deals with potential currency movements helping you avoid costly unhelpful fluctuations in exchange rates.

Peace of mind

No matter how big or small the payment is, we can assure you that you are working with a company that is fully legal, licensed and FCA regulated. We want to take the stress away and help you feel more in control of your money. By opening an account and organising your payments in advance, you’ll never have to worry about risk.

Get great value foreign currency exchange services today

If you’re a medium to large sized business that deals with any currency, we recommend using a broker instead of a high street bank. Get in touch and our team will be happy to answer any questions you have. You can also open an account online in just 5 minutes!

Contact us on our UK number 0207 435 7052, our USA number 516 548 6485 or email info@movingcurrency.com

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