The exchange rate is one part of FX, the other is transaction fees. Many banks charge a percentage or an extortionate flat fee for making a foreign transfer. Currency UK can save you money here too.
However, often, that is not all. You can also be charged international transfer fees. Currency UK are able to reduce or mitigate them.
If your business relies on a particularly fast turnaround, just let us know and we’ll do the rest.
Currency UK can make same day payments in the following currencies:
- GBP (Pounds Sterling)
- EUR (Euro)
- USD (US Dollar)
- CHF (Swiss Franc)
- CAD (Canadian Dollar)
- PLN (Polish Zloty)
- ZAR (South African Rand)
- BBD (Barbadian Dollar)
- CZK (Czech Koruna)
- DKK (Danish Krone)
- HUF (Hungarian Forint)
- MXN (Mexican Peso)
- NOK (Norwegian Krone)
- SEK (Swedish Krona)
- TRY (Turkish Lira)
Please note that cut-off times and destination time differences should be taken into account. Find out more here.
As soon as we have instructed payment on your behalf we will send you a payment confirmation. This document enables your beneficiary to speed up their reconciliation process and perhaps reduce lead time.
Unlike many banks, Currency UK’s commercial fx brokers offer you the option to use forward contracts. These "lock-in" your exchange rate up to one year in advance of you actually requiring the funds, protecting you from currency market volatility.
This is ideal if you have to agree pricing well in advance of delivery, or you are operating a strict budget and need an exact knowledge of expenditure and income, or you know that you would like to be receiving next year's income at today's exchange rate.
And if you don’t know exactly when you’ll need to make an exchange but would still like to take advantage of a favourable rate, we can book a flexible forward contract. This allows you to specify a window of dates in which you can make a trade.
A forward contract is very similar to a same-day or spot contract. However, there are three additional considerations:
- How long do you wish to fix the rate for?
- Do you require your funds on a particular date, or would you prefer to specify a window of time in which to make or receive a payment?
- A refundable deposit is normally required
Find out here how we calculate the price of a forward contract.
Currency UK can analyse your total yearly foreign exchange exposure and advise you on the optimal hedging strategy for your exact set of circumstances. For example, you may wish to hedge a certain percentage of your yearly forecast turnover and allow room for fluctuation.
Currency UK go above and beyond the average currency broker. We offer a suite of treasury management services to suit companies from small to large and complex requirements.
Our Treasury Services Suite is made up of two components:
1. Accounting and Process
- You will have free access to our extensive list of currencies and FX accounts. We operate accounts in 40+ currencies.
- Your company can utilise deposit-free hedging (subject to criteria).
- Full suite of reports for enterprises and individuals.
- Our suite allows you to set up regular payments to be paid automatically with adjusted values if necessary.
2. Risk Management
- We are regulated by the FCA as an Investment Firm, allowing us to provide hedging advice. Currency UK can fully assess your company and create a tailor-made solution.
- Your company will be able to use whatever contract suits your needs including same day, next day and spot contracts.
- If you need added flexibility, Currency UK’s forward exchange contracts allow you to extend the end date to accommodate for changes in cash flow, invoicing and delivery dates.
- Our market orders and alerts service will send you fast and accurate updates when the market changes in and out of favour.
Currency UK want to help your business be as efficient as possible. That’s why we created our online platform.
Simple to use, our online system allows you to make multiple currency payments from the comfort of your office chair in the blink of an eye.
It also keeps a record of every transaction made, facilitating reporting.
If you’d like to get Currency UK’s rates on your website, we can give you access to our API.
Still unsure of what our online platform can do? Check out this short video clip.