Foreign Exchange for Business Trading

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 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.

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 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.