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Case study: Mediterranean Direct Ltd

business-articlesCase study: Mediterranean Direct Ltd
  • Problem – Varied FX requirements which could no longer be met by existing provider
  • Our solution – Spot and forward contracts, digital currency wallets and expert account management
  • Benefits realised – Flexible, reliable transfer solutions and personal support

Background

With offices in the UK and Bologna, Italy, Mediterranean Direct Ltd specialise in the import and distribution of high quality, artisan produced Italian and Spanish food and wine.

The company also runs an online delicatessen, with all of its products sourced by its Italian team.

Challenges

Mediterranean Direct need to make regular euro transfers, and occasional Swedish krona transfers, to pay suppliers and their European staff.

When the provider Mediterranean Direct were using to manage their currency requirements changed their terms they needed to find an alternative.

The company explored their options and Currencies Direct were the first company to respond to their enquiry. They also found the registration and initial set up process simpler than other providers they’d looked at.

Our solution

Since registering with Currencies Direct in 2019, Mediterranean Direct have used us to make more than 120 international payments.

The company has an annual FX requirement of over £350,000 and use us to make spot transfers, fix exchange rates with forward contracts and store currency in their digital currency wallet.

 “Currencies Direct provide an easy-to-use online service, and their wallet feature is particularly useful. The team have been good to work with and very efficient – particularly our account manager.”  Graham Ditchfield – Managing Director of Mediterranean Direct Ltd
Currencies Direct

Currencies Direct

Currencies Direct is one of Europe's leading non-bank providers of currency exchange and international payment services. Since we were formed in 1996, we've maintained our focus on providing innovative foreign exchange and international currency transfer services to corporations of all sizes, online sellers and private individuals. We have also expanded our services to provide dynamic and pioneering "business to business" solutions to help companies, tier 2/3 banks and other non-bank financial institutions to process their international payments. Our headquarters are in the City of London (United Kingdom) and we have operations in continental Europe, Africa, Asia, and the United States. Currencies Direct is jointly owned by private equity firms Palamon Capital Partners and Corsair Capital.

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