Press

Businesses Need Wider Range of Criteria When Selecting Foreign Exchange Providers

By Callum Holmes November 12th, 2014

Image L-R: Mark Fenn from  Microbiological Solutions; Carl Hasty from Smart Currency Business; The Brave & The Bold host Natasha Kaplinsky

UK and US regulators have fined five banks £2bn for attempted manipulation of foreign exchange rates. According to the Financial Conduct Authority (FCA), the regulator of financial services in the UK, the ‘failings at these Banks undermine confidence in the UK financial system and put its integrity at risk’.

“Businesses need transparent services that are easy to understand, especially when it comes to something that moves as quickly as the currency market,” says Carl Hasty, Director of international payment specialist SmartCurrencyBusiness.com.

“Much has been made by independent foreign exchange providers of their bank-beating rates. It is crucial for a business to obtain competitive rates, but there are other features of a service that are also important, such as transparency and products and services that are easy to understand.”

 

Click the links below to read coverage of this article in the press:

Business Money