What does Currency UK do for my business?
Currency UK provides significant cost savings on deliverable foreign exchange transactions including international payments and receipts. This is achieved by offering a combination of products ranging from Spot and Forward Exchange Contracts through to FX Options, all provided at significantly lower margin than your banking providers.
Who are you?
Formed in 2000, Currency UK is an FCA regulated financial institution with a significant client base of SME's and Private Individuals. More information can be found here.
What is the difference between Currency UK and my bank?
We offer the same suite of FX products as your bank but with superior service and knowledge at a lower cost. We do not, however, offer retail banking services such as bank accounts.
How much can my business save?
We regularly benchmark our services against the banks. Our most recent research conducted in May 2015 shows that, on average, our business customers save £9,527 during a 12 month period compared to the average bank prices available at the same time.
Typically charges are built into our exchange rates. If, however, you make a particularly large number of payments for every FX conversion then we will negotiate a payment fee with you - this will always be more competitive than your bank.
Can I pay my overseas suppliers through Currency UK?
Yes, that is what we are all about. If you have invoices to pay in other currencies then we can convert your funds to that currency and transfer them directly to your supplier on your behalf. This is also referred to as sending funds to third parties.
You may also want to protect the cost of future invoices against adverse currency fluctuations (hedging your currency risk). Currency UK can help you do this by offering a range of products to suit simple to complex needs.
Can I receive payments from overseas customers through Currency UK?
Yes, if you have invoiced in a foreign currency, your customers can pay us directly in that currency. You can then benefit from our superior exchange rates.