At this time of rising costs of fuel, energy and natural resources SMEs are facing a tough time and need to ensure their margins are as tight as possible. Never is this more important than when importing and exporting materials and goods fundamental to the business.
Whereas currency exchange rates and transfer fees may seem to be a necessary cost associated with running an SME, that doesn’t mean that savings are impossible.
Because it is convenient many SMEs may make the transfer of funds for export/import fees via their business bank account. But that is what the banks rely on. As foreign currency exchange is not their most important product, they don’t offer the best rates and treat each payment purely as one of many transactions to go through your account. And of course, they charge a fee for every transfer that is made.
As we head into a new financial year, why not look at it a different way, which could save you money and make budgeting for what could be a difficult year easier. By engaging Optimal Currency as your broker, we could help tighten those margins and save you money.
Foreign currency exchange is what we do, it’s our only product, meaning unlike the high street banks we are 100% focused on getting the most competitive rates for your business. But that’s not the only way we are different.
- Dedicated Broker – When dealing with Optimal Currency you will have your own dedicated broker throughout the process, so you won’t have to deal with international call centres, no scripts or staff that don’t know your account history. Your broker’s role is to monitor the market to find the most competitive rate for you and your specific business needs.
- Fixed-Rate – When you decide to buy your currency the rate can be fixed for up to two years meaning you will be able to budget for the year knowing what the exchange rate will be. At the bank the rate paid will be the rate for the day the transaction goes through meaning it will fluctuate throughout the year.
- Transaction Fees – The high street bank will charge between £5 and £50 for international transactions, which can mount up. Here at Optimal Currency funds are transferred quickly and efficiently with no fees.
- Safeguarded Accounts – Any funds deposited with us are kept in safeguarded accounts that are separate from the business accounts, meaning your funds are protected should anything happen to Optimal Currency.
- Customer Service – Here at Optimal Currency our clients mean more to us than financial transactions, which is why we spend time getting to know and understand them and the way their business works. We are always at the end of a phone, email or Whatsapp message to offer advice and answer questions. Satisfied customers are what our business is built on.
If you run an SME who engages in import and export and are looking to save money and set tighter margins for the upcoming year give the team at Optimal Currency a call to see how we can help you.