Foreign Exchange: Frequently Asked Questions
Frequently asked questions from our clients
We understand the need to ensure your money is handled by trustworthy institutions, which is why we aim to be completely transparent with how we work and how we can help your business. Please see some of our most frequently asked questions and answers below.
If you have any questions that have not been answered, we’d be happy to hear from you! Please call 020 7898 0500 or email: email@example.com
Making payments online?
Take a look at the dedicated FAQs of our Online Trading Platform.
Q. How does Smart Currency Business beat the rates offered by the banks?
A. We have a number of reasons why we’re able to undercut banks on their exchange rates and currency services. By not operating a network of branches, we have lower overhead costs, and so can pass on this saving to our clients. We also reduce the margin on the exchange rates we offer, preferring to make our money on the volume of transactions rather than digging deep into our clients’ pockets. Additionally, Smart Currency Business does not charge fees to make transfers over £5,000 – we think you should get great service as standard.
Q. How quickly can Smart Currency Business make my transfers?
A. Forget days turning into weeks before you can access your money – we will make the transfer immediately after receiving your funds, with the aim of delivering your transferred funds within 48 hours. In many cases, you can access your these funds on the same day.
Q. Which currencies can Smart Currency Business trade?
A. We are able to transfer all the major currencies as well as a huge number of smaller currencies. For the full list, visit our Currencies page.
Q. How will Smart Currency Business benefit my organisation?
A. We offer better-than-bank money exchange rates, a quick registration process, hassle-free currency and transfer operations and free resources to help you with your international payment strategy.
Q. How long does it take to set up a Smart Currency Business account?
A. If you start the process during office hours, it can take as little as 2 hours. And once the account is set up, you can easily make arrangements for your next international payments.
Q. Does Smart Currency Business exchange and transfer money INTO the UK?
A. Yes! We move money to and from most countries on behalf of our clients, whether it be buying a foreign currency or transferring money back into Sterling.
Q. How can I make sure you are a legitimate company?
A. Smart Currency Exchange, parent of Smart Currency Business, is regulated by Customs and Excise (MLR 12198457). To contact Customs and Excise, their direct number is 0845 010 9000. Our company number is 5282305 – you can check this with Companies House.
Q. How can I feel sure that Smart Currency Business will beat my bank rates?
A. Call your bank! In fact – we urge you to do so before calling us. That way, you can see first-hand exactly how much we can save your business.
Q. How can I learn more about currency exchange in general?
A. Give us a call! We’re happy to explain the industry, the exchange and transfer process as well as answer any questions you may have. You can reach us on 0845 638 0571 or 020 7898 0500 any time between 8.30am and 6pm weekdays (excluding bank holidays).