Sending Money Overseas

Sending money abroad – the sensible way

Sending money overseas to make an investment on foreign soil, whether you’re buying property, selling products or services, or paying staff wages, has become a very straight forward task since the global market has opened its arms and welcomed in a growing number of profit-hungry, recession-whipped UK companies. However, instead of jumping straight in and looking for the nearest option when it comes to sending money abroad, the wise businesses are actually applying some strategy to the sending of funds, and are looking towards the help of specialists. Currency specialists or brokers have the ability and the focus to not only get businesses better deals in terms of the exchange rates available, but also to offer a far greater service. And, while some companies have found the benefits of using brokers, and are reaping the rewards, others are stuck using high street banks where the chances of getting a dedicated and expert contact to discuss finding the best rates, is highly unlikely. According to foreign exchange expert, Toby Fischer, the advantages of using a specialist broker are very clear, and there is little reason for businesses to remain loyal to their high street bank here. He says: “When you consider that you can get a better rate, and a better service via a foreign exchange broker, I can’t work out why anyone would still go to their high street bank to send money abroad.


The broker benefits

Below are a few of the benefits that a company can expect to meet when they use a broker instead of their high street bank.
 
• Better exchange rates – A foreign exchange broker will be an expert in his or her field, and will have a channelled focus on finding the best rate at any given time. Unlike banks, brokers can concentrate solely on this task.
   
• Dedicated contact point – For businesses, how valuable is it to have one dedicated and expert contact each time a foreign exchange query comes up. Each time a business has to send money abroad it can avoid lengthy queues and pointless telephone conversations, by going direct to its currency expert.
   
• Free payments – Clients transferring more than £5,000 do not pay a transfer fee and are also provided an official payment confirmation by email that can also be forwarded onto the supplier completely free of charge.
   
• Security of funds – Security is a massive factor when sending money abroad, and companies should be clear on the fact that foreign exchange firms will actually hold client funds in a separate bank account to their own in order to heighten the security of that money.

Clearly, there are advantages to using a foreign exchange specialist when sending money abroad, especially when compared to using a high street bank.
For businesses that are looking to grow their profits and minimise their levels of risk when operating in foreign markets, the benefits of getting expert and dedicated advice from brokers in the know, is surely too good an opportunity to pass up.

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