Video transcript Hi My name is Toby Fischer of
currency today, if you`ve got any enquiries at all you can call me
direct rather than watch any more of this video, you can call me on 0207
183 22 91 or you can just click on the link on this video to go straight
to our website.
How does this transaction work in 5 simple steps?
STEP 1:
Well first of all you need to open an account with currency today that’s
very easy, that can be done on the internet by registering your details
there and then submitting to me a minimum, a copy of your passport and
you send that to me by scanning and emailing, that’s the ideal method or
by post obviously that will be slower, faxes unfortunately are not
acceptable due to most faxes coming through unreadable.
STEP2:
Second step that you need to make after discussing your requirements
with me and actually between ourselves you deciding to go ahead and buy
you currency you need to book a rate, in order to book a rate you can do
that between normal office hours 8.30am to 6pm over the telephone and I
can confirm the exchange rate with you at the time and the date in which
you need to make a payment or settlement in sterling or if your selling
currency over to us.
STEP 3:
Thirdly you need to send your money to us, now there’s three main
methods for sending funds over to us before we can then send your
currency on, or if you were selling currency to send the currency to us
before we can return your sterling.
The first method for doing this is the most popular method especially
for smaller sums, that’s sums below £10,000 and that’s internet banking,
so that’s where you can literally go onto your internet banking log in
select add a new payee you can put the payee details for the royal bank
of Scotland in there, click submit obviously including the amount and
any reference and the reference would also include either your surname
or your unique reference with us when you set up an account and then you
can press submit and we'll receive your funds usually between the same
day and three working days.
The other option which is less popular but is still an option available
to you is to call your bank direct and ask them to do a transfer to our
account by giving them our account details with the royal bank of
Scotland and asking them to send the money straight over to us the only
problem with that is like internet banking which I didn't mention a
minute ago there is actually a £10,000 limit which you have to adhere to
so anything above £10,000 you will have to send us a separate
transaction or you may even have to wait until the next day before your
limit is lifted and then you can send another £10,000.
The last option which is most popular for transactions over £10,000 and
for anything urgent, so if you need to get money urgently over to an
account overseas, or if you need to bring currency back and receive your
sterling very quickly then you need to look at doing a chaps transfer, a
chaps transfer does cost between £20 and £30 but the advantage of doing
a chaps transfer is that the money will come the same day sometimes
within a matter of minutes to our bank account. In order for us to then
send your currency on to the designated beneficiary bank account of your
choice.
STEP 4:
The forth option is to send your onward payment details to us that’s
where you want the person to be paid or the company to be paid overseas
or even yourself overseas there is a form to complete which you need to
fill out now for European payments you need to have on there the account
name, the bank name the iban number the swift code and the amount you
wish to send. For anything outside the euro zone for America you usually
need an account number and an ABA or routing number and then there’s
vary other codes for countries like Australia which work on BSB numbers
and account numbers but without getting you too confused at this stage
there is a form you need to complete with all the correct details for
the beneficial banking you want to pay that you need to provide to us as
soon as you can ready for when your funds arrive and your currency needs
to be sent.
STEP 5:
The last stage of this process, that’s step five, is for you to receive
a payment confirmation that will always be sent to you on the day of
your payment being sent you'd usually receive that by 6pm on that given
day unless you were looking to send an exotic currency which does not
include the euro, Australian dollar, US dollar, etc so I’m talking about
currencies like United Arab dirham’s, Moroccan dirham’s etc unless those
one of those currencies you will receive payment conformation same day
and which you can then use that for proof that your money has been sent.
