Tranfer Money Overseas

The easy way to transfer money abroad

If the recent economic dip has taught business leaders anything, it is that the world is a far smaller place than you might think. Now, granted, the UK marketplace is beginning to show moderate signs of life, but for many businesses the 18 or so months of gloom and despair gave them the necessary boot over to foreign shores. And, now that move had been made, businesses need to start getting clever when it comes to maximising the way in which foreign markets work for them and their profit levels. One place to start is in the world of payments, and businesses that need to transfer money abroad, whether that is to purchase stock and property or pay wages, should take note of the most effective way to actually carry the process out.


Head to bank, knee-jerk reaction

Some businesses new to foreign exchange automatically head to the high street bank to transfer money abroad, but the forward thinking companies that are keen to look after profit levels and receive the service that their business deserves, use a foreign exchange broker. Toby Fischer is an expert in foreign exchange, and he explains why businesses that transfer money overseas must consider tapping into the experience and knowledge of a currency broker. He says: “The value in using a broker, as opposed to a high street bank, when it comes to the transferring money bank to bank,  really lies in the dedicated service that we can offer. Having one broker that is an expert in the field of international payments is very important in ensuring transfers are fast and efficient because the alternative is speaking to a different contact at the bank, with no familiarity and little understanding of your business, each time you transfer money abroad.”


Take advantage of broker expertise

And this level of expertise is vital because it can actually make a huge difference to the amount of money a business will save in terms of rates and commission. A currency broker, unlike a representative at a high street bank, will have a full focus on the latest foreign exchange rates, and will notify clients of optimum times of purchase – especially useful when businesses are looking to transfer money abroad. And having one broker working on a business’s foreign exchange requirements also makes the process of currency transfer far more streamlined, and those that use banks will soon find their communication channel to be disjointed and vague. Take online payments, for instance, a business can by-pass endless form filling and waiting on hold during bank telephone calls, because a dedicated broker will simply take payments over the internet. Moreover, a business will be able to operate in the way it finds most convenient, whether that is contact by email or phone, the broker will always be keen to accommodate, offering a bespoke service. Clearly, using a broker at the point of transferring money abroad will bring a more streamlined, dedicated and cost-effective approach to the transfer process – and this is something that all businesses venturing into foreign fields would surely welcome.
 

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