Scenario
A recruitment company has several clients in mainland Europe. The nature of business means that clients make invoice payments in Euros to the recruitment company's Euro account throughout the year. The owner and founder of the business usually waits for a significant sum to build up in the bank account (£50,000+) before transferring the balance to the sterling account. The recruitment company found the bank provided very poor exchange rates and could not quote an exchange rate before the currency conversion was agreed. On top of this a standard charge of £25 was added and debited from their account to cover the transfer costs. In addition to this the level of service received was poor and the process required filling in a form, faxing several requests and making a telephone call. The bank could not provide the recruitment company with one point of contact and communication was time consuming and slow.
Alternative
Currency Today allows clients to purchase currency at a much better exchange rate than the banks and charges no fees for transactions over £5000. Each client receives daily rates and news to keep them up-to-date on the market and exchange rate movements. Every aspect of the transaction is dealt with by a dedicated broker with any queries arising being answered spontaneously by telephone or email. The dedicated broker also provides extra services such as currency alerts and specific opinions on the market.
Outcome
The company worked with Currency Today to reduce costs and protect profit margins. Currency Today provided independent news specific to the company's requirements allowing them to seek a more convenient time to carry out their foreign exchange transactions. Having a personal broker at their disposal provided human contact and communication on a when and how basis at every stage of the process.
Exchange Rate
Transaction fees
Total Amount received
Time to complete transaction
Total Saving
1.17
£0
£85,470
5 minutes
£1813
1.1950
£25
£83,657
30 minutes
Like the recruitment company your business can benefit from our unbeatable exchange rates and the one to one support offered by our dedicated brokers...