International money transfers have traditionally always been dealt with by the banks and brokers. Up until recently this was pretty much the only way they could be done and that is why banks could get away with offering shoddy rates and charging unnecessary fees on top. Many businesses still continue to use this method of payment and just accept the losses they make on every transfer.
However, since the development of the internet, better ways to transfer money have developed.
One Way To Cut Business Costs
Thanks to the internet and its universal acceptance as a means of facilitating financial transactions, specialist international transfer companies can now offer a superior service at a fraction of the cost. By leveraging technology and global banking systems, they can reduce their margins and pass the savings on to businesses and individuals. There’s now a particularly clever way for business owners to cut costs . . .
CurrencyFair is at the forefront of this cost-saving revolution by operating a peer-to-peer marketplace that delivers a service which anonymously matches different people wanting to exchange different currencies with each other.
This means businesses can bypass the usual bank exorbitant fees and charges to get a much better value exchange. On a typical €10,000 transfer, your business could save anywhere between €100 and €500.
Repeat the process and this could add up to huge savings over the course of a year.
Many business owners are loving the ease and savings they’ve discovered using CurrencyFair.
One business that has benefitted from the savings offered by CurrencyFair is Communication Common – a tourism marketing agency. As the agency has customers and suppliers around the world, they need to make and receive a large number of international payments.
CurrencyFair saves us money.
Ian F. Campbell, Managing Director at Communication Common said, “CurrencyFair saves us money. Not only does it save us money, CurrencyFair makes things easier because they have receiving accounts in many different countries – it’s easier for our international clients to send us payments too. It’s a win-win for everyone… except the traditional banks!”
To find out more about how CurrencyFair can help save your business money, why not check out: CurrencyFair For Business.
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