When contracting abroad, converting your money into the local currency means you could be losing out considerably on the rate of exchange obtained from your bank. To maximise the return on your currency it is certainly worthwhile seeking specialist guidance.
Pure FX is a foreign exchange broker whose focus is on assisting private clients and SME’s navigate the foreign currency market. When it comes to buying or selling currency most people assume that their bank will take care of their needs, and of course they can. However, because they are not a specialist in foreign exchange they can end up paying a lot more.
To put this into context, a Pure FX client recently saved over £1000 on a transfer of £25,000.
Not only do they offer preferential rates of exchange, when it comes to risk management most clients think they have to take a chance on the exchange rate, which is a little unrealistic because exchange rates move all the time.
To give a recent example, between January and March 07 the GBPEUR exchange rate changed by over 4%.
As a contractor working abroad, your income could be at risk to the currency markets so if appropriate, Pure FX can fix your exchange rate up to 1 year ahead, which will offer a guaranteed sterling amount regardless what happens to the exchange rate in the meantime.
In summary by using Pure FX to convert your money you will benefit from;
- Preferential exchange rates
- Guidance from specialists on the financial markets and the impact on exchange rates
- Risk management
- Prompt payments
- Zero commission on transfers
- Proof of payment via a security document called an International Transfer Receipt issued by Lloyds TSB
To learn more about how you can save money please complete the form below, or alternatively call them directly on +44 (0) 1494 474466 quoting Contractor Umbrella.