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.

  1. 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.

  1. 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.

  • Universal Partners FX listed in prestigious list that previously identified brands including Revolut, Deliveroo, HelloFresh and Bulb
  • 2021 list reflective of post-pandemic world with at-home care service, digital wills and petcare app all in top ten
  • Startups on this year’s list have raised over £951 million in finance and over £696 million in revenue

The UK’s longest running index of disruptive new startups, the Startups 100, has released its 2021 lineup and Universal Partners FX has made the list.

Run by the UK’s most established website for entrepreneurs, Startups.co.uk, the Startups 100 offers a showcase of new businesses that demonstrate innovation, solid financials, economic impact, and the ability to scale. The list has previously identified brands including Revolut, Deliveroo, HelloFresh and Bulb.

Included for a second consecutive year, Universal Partners FX have continued to help businesses manage their FX risk through an extremely difficult period. By offering a more in-depth service than what is available at banks and some other brokers, they are able to tailor their strategies to each business within their base. The result is that businesses that have faced huge hits to their bottom-line were able to navigate through the worst phases of the pandemic, ensuring that fluctuating exchange rates did not add further strain on their business. In doing so, Universal Partners FX achieved record-breaking growth which finalised their transition from start-up to disrupter.

Read more here.

Managing Editor of Startups.co.uk, Richard Parris, comments: “After a particularly difficult year for businesses we are happier than ever to celebrate UK success stories. Every year the Startups 100 shows how UK businesses are responding to the issues, concerns and trends of the time. Entrepreneurs solve problems - whether that is the home care crisis being tackled by businesses like Cera and Birdie, diversity in hiring being challenged by Multiverse or the recent pet boom being capitalised on by Vet AI - you can see UK businesses innovating to meet the challenges of the time - and being very successful whilst doing it!”

About the Startups 100

Entering the Startups 100 is completely free. Established in 2008, the Startups 100 index identifies privately-owned UK companies launched in the last 5 years that demonstrate innovation, solid financials, economic impact and the ability to scale. 

As the longest running index of its kind, the prestigious Startups 100 is industry-renowned for uncovering businesses that will go on to become major brands, and even household names. It boasts alumni companies including Revolut, eve Sleep, HelloFresh, Purplebricks, LendInvest, Deliveroo, Bulb, and many more acclaimed businesses.

 

Sending money overseas has never been this easy. With banks striving to keep up-to-date as the financial markets change rapidly, currency brokers and money transfer companies dominate the industry. If you want to send money overseas, then look no further than expert currency transfer and foreign exchange broker Universal Partners FX.  UPFX has streamlined international payments and has made it so much easier for everyone to send money overseas. Currency brokers, for example, do not charge any fees when transferring your funds and they also provide a much better exchange rate than your bank.  So how does money transfer work?

How to start

First, you will need to open an account with an international money transfer firm and once you do so they will get in touch to discuss the transfer, walk you through the process, explain the exchange rates and any other necessary information you’ll need to approve before proceeding. You will then be able to book the transaction, providing details of the recipient’s account and pay the agreed amount, via an electronic transfer from your UK bank account.

When to expect the money to arrive?

The process is simple and straightforward and should not take longer than two working days. Some transfers depending on the currency and exchange rates can be executed instantly within seconds. It is common that major currency pairs or strong currencies will be transferred faster than weaker ones.  

Transferring money overseas

One of the safest, most secure and fastest ways to transfer your money internationally is by using an international money transfer firm. UPFX has consistently executed trades by offering competitive rates to all clients with low fees. Online money transfers are the most popular method for transferring funds overseas.

Exchange Rate: What is it?

An exchange rate tells you how much one currency is worth in relation to another currency. The general rule is that the higher the exchange rate, the more money you will receive when you trade. The exchange rate is not something stable and changes all the time depending on market news, the political situation in that country’s currency and other events that could cause volatility in the foreign exchange market. The foreign exchange market or, simply, forex, is considered the most liquid financial market and is very volatile. Because trillions of dollars are being exchanged, it is easy to buy and sell currencies. In 2019, the daily volume of the forex market reached $6.6 trillion! So, this is why the market is big, competitive and why many people decide to trade as a hobby with the potential to make a profit. While it provides plenty of trading opportunities, the forex market is also risky, that is why registering with a leading money transfer firm such as UPFX will save you time, money and lots of stress. If your business for example has regular transfers or requires a more nuanced currency strategy and risk management, then UPFX will provide you with a plan and a solution to suit your specific requirements.

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.

 

If you need to transfer money to your own overseas account or to other businesses and employees abroad, you can find an online specialist currency transfer firm such as Universal Partners FX who will offer competitive exchange rates and cost-effective transfers. In a volatile and fast-moving market, it is best to choose a reliable currency transfer company who can keep up and provide consistency and security.

How to determine your currency transfer firm is reliable and reputable?

First, it is good to check whether your currency transfer provider is authorised and regulated by a recognised authority or regulator. In the UK, the specific legal body and authority of overseeing the financial services sector is the Financial Conduct Authority (FCA). A currency transfer company, for example, is obligated to make sure that their client funds are secure at all times, and it does so by keeping them separately from the firm’s own funds.

The FCA regulates the conduct of around 51,000 businesses. They are the prudential supervisor for 49,000 firms and sets the standards for around 18,000 firms. Established on 1 April 2013, the FCA took over responsibility for conduct and prudential regulation from the Financial Services Authority.

The FCA’s responsibility is to protect consumers such as yourself, as well as safeguard the integrity of the UK financial system. As an independent public body funded by the firms they regulate, they are accountable to the Treasury and to Parliament.

Avoid using your Bank

Don’t rely on your bank. From high costs and fees and high margins on exchange rates, your bank is not the ideal partner when sending funds. Instead find a reputable money transfer provider, like UPFX who can offer tailored assistance, competitive exchange rates and secure and fast delivery of your funds.

Monitor the markets

If you are sending funds regularly then you need to check what is happening in the financial markets and how the currencies you are exchanging could be affected by economic news and events. As a business, you want to make sure that you are not losing money when transferring your funds overseas, especially if you send big amounts of money to pay partners or employees overseas. To make sure you know which time is the best to transfer your funds, check an economic calendar or ask your currency transfer specialist. UPFX has a dedicated team to help you with any enquiry and publishes expert market insight on its website. Currency volatility is usually common before or after major Central Bank announcements or the release of important economic data such as inflation data, PMIs and employment figures.

Manage your risk

Again, your currency specialist can explain to you about the various risk management tools available to you and which ones you can use for your specific needs. A forward contract, for example, gives you the opportunity to secure today’s rate for a future transfer, so you can control what exchange rate you will get and how much it will cost you to transfer your funds.

Trading internationally? Save money with Universal Partners FX

If you are intending to start an international business or you are already dealing with international money transfers, you will need a cost-effective way to manage your overseas currency transfers. 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.

International currency transfers can be easy and stress-free if your business has a plan and partners with a currency specialist right from the beginning. Whether you are a small business owner or a large business, if international currency transfers are an essential part of your operations, then a currency specialist will prove to be a valuable asset. From securing competitive exchange rates and providing risk management, a currency transfer firm such as Universal Partners FX will provide much-needed support and guidance.

Get more for your hard-earned money

One of the easiest ways to give your business a boost is by taking advantage of competitive exchange rates and securing the best possible return for your international currency transfers. If you plan ahead and lock a desired exchange rate for a future transfer or benefit from a current exchange rate, you will be able to save money and invest your funds in other assets or in developing your business further. This is the case when you send large amounts of money regularly overseas.

UPFX can help you access the best possible exchange rates available with no hidden fees or extra costs.

Know the markets

The markets are constantly changing and for this reason you want a stable and reliable currency transfer company to act efficiently and provide the best exchange rates, as these can change drastically from one moment to the next and from one day to another. One of the valuable and beneficial services UPFX provides, is its news articles on currency movements and how economic data may affect the pound or other major currencies. These regular updates are useful as they can provide a good picture of how the markets are and what could potentially influence them.

Online platform

With UPFX’s online platform, you can trade from anywhere and at any time, through your computer or mobile device. Currency transfers have never been this easy. In a fast world, where convenience is paramount, we have tried to cater to all our customers and provide services that make a difference and save you time and money. If you are regularly transferring funds for your business this is a perfect way to do so.

Security of funds

When we transfer your funds, we pay the utmost attention and provide fast and secure transfers. As a regulated firm we adhere to specific rules and regulations. We always protect your funds by operating segregated accounts.

Dedicated team of experts

We are always on hand to offer help and guide your through the process of transferring your funds. If you’re not sure about how to tackle your business’ payments, our currency experts will discuss with you and review your business’ needs and requirements, explain which currency transfer options would best suit your company and deliver tailored solutions and payment plans. They can also help identify areas where you could streamline processes and manage risks more efficiently.

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.

 

We are delighted to announce our nomination for Best Money Transfer Service at the Money Age Awards 2020.

With it being such a challenging but fruitful year so far for the company, we are extra proud to gain more recognition for the services we are providing within foreign exchange. This comes after our 20th position ranking in the Start Ups 100 and also our listing by the Crown Commercial Service for our special efforts to help businesses and the community during the COVID-19 outbreak.

The winner of the award - from a three-name shortlist - will be announced on 8th October at the Waldorf Hotel in London.

The recognition we are receiving is testament to our staff and the hard work they put in to ensure our clients receive the very best foreign exchange solutions. At a time of global uncertainty, expert guidance has never been more important.

To get a quote for international money transfers click here, or you can register for free here.