Save on Overseas Payments for Businesses Selling Through Ecommerce Sites.


If you’re a business that sells products online and use sites like Amazon Marketplace, Play and Audible you already know how they’ve changed the world of business for the better.

Thanks to the power of the internet you can now sell your goods to customers across the world on popular ecommerce platforms – creating truly international businesses by providing easy access to overseas markets. But, like anything, ecommerce platforms can have their drawbacks.

 

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Though they make it easy and convenient to generate sales globally, you may be getting a raw deal when repatriating sales revenue back into your local currency through poor exchange rates. This could result in even less of the money generated from sales reaching your bank account, and that’s without mentioning the standard seller fees – this could seriously affect your bottom line. Luckily, today there is a different way.

A fresh approach to overseas payments.

At currencytoday.co.uk, our impartial experts believe they’ve found one of the most effective ways to help you save time and money. World First is one of the only companies in the UK who can set up unique bank accounts in different local currencies on your behalf designed to receive funds from sites like Amazon.

With World First, you can:
  • Let funds build up before you convert them into local currency – allowing your business to operate more strategically.
  • Control when you make a currency transfer to take advantage of the best possible exchange rate.
  • Enjoy a far better exchange rate than the one automatically offered by the ecommerce platform.
  • Easily manage sales revenue from all your ecommerce sites in one place using World First online to manage balances, make trades and instruct payments back to your domestic account.
World First works with most of the world’s most popular ecommerce platforms - including Amazon Marketplace, Priceminister, Play, FNAC, Base, CreateSpace and Audible – and customers say it’s easy to use and set up, with help on hand from knowledgeable and intuitive currency dealers and account managers.

But don’t just take our word for it...

Case study 1: How World First helped a Canadian health and beauty entrepreneur keep business looking good.

Wherever they are in the world, people want to look good and feel great, and for the last three years, Alex Settino, CEO of, an online retailer in Ontario, Canada, has been helping customers do just that through his online business dedicated to selling health and beauty products worldwide. It’s a truly global market - 65% of his customers are women living overseas in places like Germany, Spain, US and the UK - so it’s not surprising that nine out of ten of his orders go through Amazon Marketplace.

A currency crisis.

A year ago, Alex realised that he was losing out on the exchange rate when handling customer payments from overseas. That’s because Amazon were collecting all the payments in Euros and pounds and automatically converting them into US dollars – all the while charging a hefty 3.8% exchange margin. Seeking a better way, Alex got in touch with World First via our Currency Today website, who explained how he could save. Now, Amazon automatically transfers funds to World First every fortnight.

Alex just has to log in to his World First account, book a foreign exchange deal and arrange for a payment to his main company account in US Dollars. Securing a great exchange rate and gaining control over when to convert the payments means he’s made significant savings, and he loves the customer service, describing it as friendly, accessible and helpful. With World First, Alex saves an average of $2000 –$3000 USD a month.

Case study 2: How we helped Papercavalier start a new chapter in saving money

Papercavalier.com is a successful ecommerce company that uses new media to sell products to people who prefer a more traditional form of communication – the book. They buy and sell rare titles to collectors around the globe, and while sophisticated backend technology powers their business, Amazon and Abebooks are the platforms they use for sales. However, with Amazon, their funds are automatically sent every fortnight at poor exchange rates, rather than at the time when the rates are at their strongest.

A fresh solution

Papercavalier approached World First via our website – their solution was to allow the company to set up local bank accounts to receive multi currency payments from Amazon, allowing them to get deposits direct. So, they now have complete control as to when they exchange currency and can hold out until they get the best possible exchange rate. The company can now receive payments from Amazon in euro, pounds, US Dollars and Canadian Dollars Plus, they can transfer several hundred thousand pounds every month, providing savings of over £13,000 a month, at the time most favourable to them. They save money, and get excellent service - by phone and online. Plus, they can manage their balances 24/7. All of which means that when it comes to getting the best deal – they’re doing business by the book.

Fill out our contact form to find out how World First can help you.

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