How it works
Foreign exchange companies drop the margin that traditional banks use to make money during a transfer so for example a bank may buy at 150 and sell at 158 – so they make 8 in the exchange. The foreign exchange company reduce those margins sometime as much as half so your exchange rate with them could be 154. That 4 cents can add up to thousands of dollars.
They also can transfer instantly and they don’t have a transfer fee. Banks may take up to 48 hours and charge you a fee of $40 to wire.
many FX companies will also “lock” you into a rate so you can chose when you want to trade so if the exchange rate drops you will still get the locked rate.
We are able to recommend excellent FX options for your transaction, I would estimate that 90% of our clients use this service and save a considerable amount by doing so – so make sure you take full advantage of this service.
If we have not assisted you with this program already – make sure you ask us about it.