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We’ve helped thousands of businesses to save money on their international transfers.

Over the years thousands of clients have entrusted Currencies Direct to assist them in delivering solutions to address their payment and currency exchange needs. The results speak for themselves. By partnering with Currencies Direct companies have been able to reap and realize tangible savings and benefits.

Beverage wholesaler

After getting to know the companies requirements our specialists felt that the best option to protect from foreign exchange risk was for the beverage wholesaler to take advantage of our highly competitive spot deals.

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Situation

A UK based beverage wholesaler works with a number of suppliers within Europe. Each week the company has to make a number of payments to their European suppliers in order to ensure the release of stock from their warehouses. It is vital that these payments arrive at their destination on-time and that each payment (no matter how small the amount) obtains the best possible >currency exchange rate.

Solution

After getting to know the companies requirements our specialists felt that the best option was for the beverage wholesaler to take advantage of our highly competitive spot deals. Spot deals allow companies to get the best rate available that day and provide beneficiaries with speedy access to payments through the use of Electronic Funds Transfers thereby minimizing foreign exchange risk.

Outcome

By using spot deals to pay their suppliers the wholesaler is able to make sure that all their payments are made on-time and at the best possible currency rate. In addition the company can decide each time whether they want Currencies Direct to transfer the money directly to the supplier or into the companies own foreign currency account from which they can then make the payment. Either way, both the beverage wholesaler and the beneficiary receive notification that the payment has been made.

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IT firm

Currencies Direct offers an overseas regular money transfers service for business clients.

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Situation

An IT firm has recently opened a subsidiary office in India and each month needs to send money to India to cover operating costs including wages. The company finds that not only is it time consuming to arrange these transfers each month but their bank charges for the service and also makes the transfers at a very uncompetitive currency exchange rate.

Solution

Currencies Direct offers an overseas regular transfer service for business clients. This service simplifies the whole process of making regular transfers by utilising a Direct Debit that simply takes the specified amount each month from the companies account and transfers it at the best possible currency rate to the nominated beneficiary. In addition there are no charges involved.

Outcome

By using Currencies Direct overseas regular money transfers service the Finance Director at the IT firm is able to sit back and relax safe in the knowledge that each month their account in India will be credited with the necessary funds to pay their staff and other operating costs.

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Electronics firm

Currencies Direct offer forward contracts that let clients lock in a rate of exchange in advance for delivery of funds on a future date.

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Situation

An electronics firm based in the UK imports a number of it's components from the Far East. Due to lead times the company needs to plan ahead and place orders weeks, sometimes months, in advance.

Due to the large scale of the companies operation the costs involved with these orders are high and fluctuating currency exchange rates can substantially impact their bottom line.

The company needs to find a solution that allows them to accurately forecast the costs of orders and therefore set prices for their finished products.

Solution

Currencies Direct offer forward contracts that let clients lock in a rate of exchange in advance for delivery of funds on a future date. Once a rate is secured, the settlement currency equivalent is fixed for the duration of the contract, thereby protecting profits from erosion. Because rates can be locked in up to two years in advance, companies can monitor the market for favourable rates and secure funds for upcoming needs.

Outcome

By utilising the forward contract service offered by Currencies Direct the electronics firm is able to lock in a currency rate when they initially place their order in the Far East thereby enabling them to know exactly how much the total cost of the order will be. This allows them to more accurately forecast budgets, profit margins and price lists.

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