Corporate foreign exchange and intl’ payments - Business - News |

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Corporate foreign exchange and intl’ payments

Corporate foreign exchange and intl’ payments

Category: Business

Updated: 13/11/2014
First Published: 11/11/2014

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Being able to make international payments swiftly, simply and, above all, cost-effectively, will be key to the success of many businesses. Whether you're a small import/export firm or a large multi-national corporation, you need someone on-call who can manage your corporate foreign exchange requirements to the highest of standards.

Banks and building societies will often be the first port of call, but they may not always offer the best rates or the most suitable service proposition. In many cases, cutting out the middle man and going straight to an online currency specialist will be your best bet, and this is arguably the best way to successfully manage your corporate foreign exchange needs.

Why choose an online broker?

  • Convenience. Everything can be completed quickly and simply, allowing you to make international payments or transfer currency with a click of the mouse. Suppliers can receive money in a matter of seconds, helping to boost your reputation, build relationships and conduct your business abroad with ease.
  • Competitive rates. Most online brokers offer highly competitive exchange rates, which often far outweigh those that can be found in banks. Associated fees and charges will invariably be lower, too, and because it's conducted online it'll cut down administration costs and reduce the need to speak to your bank directly.
  • Online account management. You'll be able to set up your online account so you can be in complete control of the process. You decide where the money goes and when, and can track payments at any time of the day or night for added peace of mind. You can also take a proactive approach to keep track of market fluctuations, putting you in complete control of your money.
  • Specialist service. Because you're dealing with specialists, you'll get a specialist service by default. They'll understand your corporate requirements and will be able to offer the service to suit, often tailoring their provision according to your requirements. These providers will also often be smaller than banks so will have fewer clients, meaning you get a more personal service.
  • Security. Just because it's conducted online, doesn't make it any less secure. This is a highly regulated industry and providers will have totally secure methods of transfer, and because you can manage your own account, you'll have an added layer of protection as you're in control.

Manage your international payment requirements the easy way

Using a currency specialist can make the process of transferring international funds, paying foreign suppliers or exchanging currency quick, cost-effective and hassle-free – all essential components to successful corporate dealings. You'll be in total control of the process so will have a direct role in managing your funds, and this can make all the difference.

Not only that, but you could save money thanks to cheaper exchange rates and low charges, while still getting the speed and efficiency that's so necessary in today's international corporate space. There are a lot of providers to choose from, too, but if you want to get an idea of how it works – and get bank-beating exchange rates – make sure to check out our dedicated international money transfer section to find out more.

What Next?

Visit out international money transfer partner HiFX to find out how much you can save

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.