The Company Expense that the Banks Don’t Want You To Know About…

During the process of making and/or receiving international money transfers (from sterling to any currency or vice versa) the banks can take a substantial margin without you even realising it. This margin can add significant cost running into many £££'s, and in some instances nearly 5% can be added to an organisations annual costs.

The sad fact is that this company expense is completely unnecessary.

The banks profit from providing poor exchange rates and charging various fees for each money transfer. They also fail to assist companies with the money saving option of fixing exchange rates so that budgets are maintained.

By working with Smart, the international money transfer specialists, you can completely eliminate the unnecessary costs charged by the banks. A Smart Specialist will be able to provide exceptional exchange rates, reduce and/or eliminate all fees along with outlining the options available to minimise risks and save money.

Smart can save companies up to 4% (or £4,000) on every £100,000 transacted by simply proving better-than-bank exchange rates. Further savings can be accomplished when working with Smart to achieve “budgeted” exchange rates. To avoid poor service and being exploited by the banks, discuss your options with Smart today.

The Money Transfer Saving Options Available…

Spot Contracts – money transfer option to get an excellent exchange rate today!
If you need to purchase currency and make an international money transfer within the next week, you can achieve a better-than-bank exchange rate when booking with Smart. Your company will save a substantial amount over the high street bank exchange services and Smart will also be able to assist you by removing, and perhaps eliminating altogether, the bank money transfer fees.

Forward Contracts – money transfer option to reserve today’s rate for purchase in the future!
If your company has an international money transfer due for next month, or several payments throughout the year, Forward Contracts can help you to fix the exchange rate today for a purchase/payment in the future. This works well with companies that have set budgets or a known history/forecast of currency requirements. Provided that you know how much currency you’ll need to purchase throughout the year, you can reserve it today and know that your margin will not be squeezed due to adverse currency fluctuations.

The Smart Forward Contract will allow your company to order currency at an agreed fixed rate for up to 12 months in advance. You will have the option to fix an exact rate at an exact date OR you can request a fixed rate between, say, a 3-month time window. In order to secure the rate, you only have to pay a 5% - 10% deposit within two days of placing the order. The remaining amount is paid just prior to the completion of the transaction.

Beryl Loria had make three payments of €60,000 each in Feb, Mar, April 08

Limit Order – The corporate money transfer way to secure money when the rate is good!
This option is for organisations that don’t necessarily need to make international payments at any particular time. Perhaps you know that you’re going to need to transfer money to an overseas location at some point in the next year and you feel that a better rate is on the horizon? You can talk to a Smart specialist and they can discuss an achievable rate that works to your benefit. Once the exchange rate hits the pre-determined beneficial rate, Smart can either contact you or, if already instructed by you, will aim to buy the currency for you automatically.

Stop Loss – Securing money transfers when the rate takes a dive!
This option allows you to buy currency if the rate hits a point that you don’t want to go below. Some organisations prefer to wait and see what the market will do; however they do have a breaking point that they can’t afford to go below. A Stop Loss allows companies the peace of mind that if the market starts to drop below their set rate the necessary currency will be purchased on their behalf.

Start doing your international money transfers the Smart way – open your no obligation, free Smart Trading Facility today. Apply Online.

Looking For More Information…

• Learn more about how to Make International Payments or Receive Payments from Overseas
• Get our FREE report that outlines everything you need to know about saving money through the international payment process. Collect your copy here.
• Give us a ring - call 0845 638 0571