There are a significant number of different providers who will be able to assist with the provision of foreign currency, from Travel money providers, including cash, travellers cheques, and the more recent addition of Travel Money cards, through to larger Foreign Exchange (FX) transfers for purchases in a huge variety of different foreign currencies.
If you are to use your bank or credit card providers for these types of transaction, unless specifically selected for this task, it is unlikely that you will achieve the best rates available, and therefore value for money.
Please find below the different service areas, where we have carefully selected partners to provide the very best rates of exchange, offering potentially significantly reduced rates than the high street providers.
Foreign Currency Exchange Private Clients
Where a private individual requires to transfer funds overseas, or to complete a foreign purchase, there are a wide range of Foreign Exchange banks, who specialise in providing currency transactions at discounted rates available from the high street banks. As these organisations will be transacting significant volumes, on a price sensitive basis, they will be able to secure some of the best available rates. Typically the smallest transaction size will be in the region of £5,000, up to millions of pounds.
If you are considering purchasing a property or goods from overseas, you will want to make sure that you are securing the very best rate, as this will affect the cost of the goods. Typically Foreign Exchange banks will not charge commission on these transactions, further lowering the cost.
We work with a variety of different providers, offering highly competitive rates.
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Foreign Currency Exchange Corporate Clients
Many businesses will be required to import goods, and therefore will require continuous access to a variety of different foreign currency. There are number of options for businesses, and it is possible to receive “spot” prices, as well as “hedging” (i.e. fixed rate price on currency for a fixed period). Currency exposure can quickly erode businesses profits, if for example the price of a currency was suddenly to fall, or visa versa, profits can quickly be increased if currency moves in your favour.
There are a wide variety of different hedging options which are available to businesses, including buying forward contracts, as well as more structured opportunities. Our panel of Foreign Currency Exchange Corporate providers, will be able to assist with providing detailed analysis and description of the options available, and the potential impact that this may have on your businesses.
Corporate clients (depending on requirements), will receive a dedicated contact within a treasury team, who will be able to provide live prices across a wide variety of different currency options, including forward contracts, options, convertibles and vanilla options.
Click here to compare Foreign Exchange Corporate
Money Transfer
Transferring money online provides individuals with the ability to send money to their families and friends overseas. These services will typically charge a fee for transferring the money, to a wide range of different countries and currencies.
We have carefully selected some of the UK’s leading money transfer providers, which offer high levels of security and great currency transfer rates.
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Travel Money Online
Purchasing foreign currency from your bank, or the counters at the airport is typically an expensive option. There are a variety of different providers, and ever increasing of providers who offer foreign exchange services through the internet.
Through a relatively straightforward process, it is possible to order your travel money online (by 3pm) and have it delivered the very next day (subject to provider terms and conditions). Alternatively it is possible to order online, and schedule delivery from the local branch of the travel money provider.
The rates which online travel money providers offer, will be highly competitive, and you will be able to save money, which means, more to spend on holiday!
Many providers, will in addition, buy back any currency which you have left at the end of your holiday free of charge. We work with some of the UK’s leading providers, to ensure the very best exchange rates to our clients.
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Travel Money Cards
Also known as FX Currency cards, or Cash Passports, is a relatively new option in relation to currency exchange. They work in a similar way as a pre-paid credit or debit card. You top the card up with an amount of cash, which you can then go on to withdraw/spend whilst abroad.
Travel money cards, offer a safe and secure way of spending funds whilst abroad, as they utilise chip and pin technology to ensure that funds are not easily accessed.
In addition, the exchange rates which the card providers will offer will generally be highly competitive, meaning that you can generate a significant saving over a normal overseas card payment or cash withdrawal.
Most providers offer cards in a specific currency, for example Euro’s or US Dollars, which means that you can fix in the rate at the time of the purchase, meaning that you are not exposed to further currency fluctuations.
An important security feature of Travel Money Cards, is that if they are lost or stolen, then it is possible to get the card replaced, and additional emergency funds ordered and delivered to your location (terms and conditions apply).
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Travellers Cheques
Travellers Cheques are one of the oldest forms of currency transactions, and Travellers Cheques offer a secure way of converting currency, using identification such as driving licence or passport once you are abroad.
It is now possible to order Travellers Cheques online, and arrange next day deliver. (Different providers have different delivery times). Alternatively, as with Travel Money, it is possible to arrange collection from branches of the relevant travel money provider.
Whilst we offer market leading rates for the conversion of sterling into Travellers Cheques, it is important to remember that when you have arrived at your destination, you will liable to local fees and commission which may apply.
Click here to compare Travellers Cheques