When it comes to a corporate entity investing in large sums of foreign currency, then there will be a huge concern that over the next couple of days the exchange rate will change which will result in you needlessly wasting money. Money transfer services benefit from the insight of currency experts who are able to make the best of the current climate when you want to buy foreign currency. In order to do this, it is essential that they do not go through any middle-men and deal directly with the currency market. Ultimately, if the currency broker offers services for IFAs, property agents and solicitors, then they should be more trustworthy.
As a business you may have some pretty complex needs when it comes to transferring money, therefore it is best if you are assigned your own personal account manager. This will enable the currency broker to really tailor their service to your needs so you don’t end up paying more than you have to. By tapping into commercial exchange rates you will automatically benefit to a tune of 4% over high street bank rates. Clearly, the larger the amount of money you are transferring, the more and more imperative it becomes to use a service like this.
You will be wondering how the currency broker makes their money. This comes from the difference between buying and selling prices, which leaves all of your exchanged money for yourself. It makes complete sense to use a currency broker as opposed to a high street bank.
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