Case study: Mediterranean Direct Ltd
Currencies Direct April 29th 2020 - < 1 minute read
- 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
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.
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.
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