Whether you are starting out your own business or already running a successful one, you will find that you have to meet several challenges, including managing finances, controlling costs and building a strong relationship with your customers and suppliers.
For businesses that employ staff abroad or work with overseas suppliers and international customers, there is another important element to consider: currency exchange. Transferring funds across borders in an efficient, secure, and cost-effective way is an essential part of an international business and should be a priority. For those working within the import and export industry, international money transfers and currency exchange is a daily part of their business and the more complicated it is, the more important it is to find a reliable and trusted currency exchange specialist to assist you with managing your overseas payments.
- Why should I choose a regulated and reliable partner?
Currency exchange specialists such as Universal Partners FX provide a platform for easy management of frequent international payments and offer access to competitive exchange rates. Such a broker, with years of experience and regulated by financial authorities, can provide a wide range of products and services, secure payments and peace of mind. UPFX have advanced software, an intuitive platform and can offer superb exchange rates across more than 140 currency pairs, facilitating international transactions in various countries.
Universal Partners FX is the ideal option for distribution and wholesale foreign exchange services, as it can provide valuable support to businesses which want to make regular payments while having access to expert knowledge and strategic financial planning. From monitoring the markets, to developing hedging strategies to protect your business, UPFX’s currency specialists will assist your business and help it grow while saving you time and money.
What exchange rates do you offer?
It is a fact that banks are more expensive and offer higher exchange rates than currency providers. But since there is a lot of competition among currency providers, you can also research and find the best as many might claim to be competitive and advertise that their transfers are free of commission but charge heavy markups on their exchange rates.
For example, when buying currency, you are offered a rate by your bank. This rate might be quite different from other banks or currency providers, and you need to explore various options and understand exactly how much margin is built into the rates. You also need to take into account the service and customer support, as sometimes the cheapest option might not be the best. A tailored approach, useful and friendly customer service and a well-developed strategy for your business should also be considered when making an overall decision.
Especially, if your business has time to plan ahead and can wait to transfer currency, then you might be able to save more money by holding out for a better rate. All of this can be discussed with your currency broker, and explore which option suits your different needs.
- How long will it take for my funds to arrive at the recipient’s account?
Transferring funds efficiently is part of a well-oiled operation, and businesses are focused on meeting strict deadlines, setting invoices on time, and paying contractors as agreed to ensure the smooth running of their business. If you have used your bank for currency transfers, you will know of the delays involved, as once your money leaves your bank is sent to an intermediary bank which forwards it on to the receiving bank, creating delays and incurring extra charges. When transferring currency, it is always best to be aware of potential delays or extra costs and plan ahead. A currency transfer business such as UPFX will walk you through the process of transferring funds and shed light on all aspects of your transfer, explaining how long it will take to process a particular transaction.
Trading internationally? Save money with Universal Partners FX
If you are making international money transfers, you will need a cost-effective and secure way to do so. Universal Partners FX is the right partner for your foreign exchange. With UPFX, you can open a multi-currency account, send and receive money worldwide with low and transparent fees. You can also manage your money and send international payments 24/7 through UPFX’s easy-to-use online platform powered by Currency Cloud.
If you are an exporter or plan to start your international business, get in touch now with Universal Partners FX to find out how much you can save in your international money transfers.