Maximising your value from foreign currency exchange transactions

Understand the Impact of Fees on Exchange Rates:

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The exchange rates you see may not always represent the actual cost of a currency exchange transaction. Fees, such as transaction fees or service charges, can significantly affect the exchange rate you receive. Therefore, it is crucial to always factor in these additional costs when comparing rates.

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Engage our Team of FX Experts:

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Our team of foreign exchange (FX) experts can assist you in navigating the often-complex world of currency exchange. They can allow you to run price comparisons with the major FX platforms and banks if you are running high value trades on a daily or weekly basis you can have your own FX dashboard to get even greater saving. Our team of experts are ready and willing to help you make informed decisions. Typically, we are able to offer half the fees of the major banks through our FX partners.

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Avoid Airport and Hotel-Based Currency Exchange:

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While convenient, airport and hotel-based foreign exchange services usually offer less favourable rates compared to banks or specialized currency exchange providers. It's typically better to plan ahead and get your currency exchanged before you travel, or use local ATMs in the country you're visiting.

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Beware of Dynamic Currency Conversion:

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Dynamic currency conversion (DCC) is a service offered by credit card processors that allows international transactions to be billed in the cardholder's home currency. However, the exchange rate used in DCC is often unfavorable compared to the standard rate your card would use. Opt to pay in the local currency, not your home currency, when using a card abroad.

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Be Proactive and Informed:

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The best approach when dealing with foreign exchange transactions is to be proactive and informed. Stay updated about current exchange rates, monitor any fluctuations, and understand how additional costs like service charges and transaction fees can impact the effective rate you receive.

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High-Value and Volume Foreign Exchange:

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If you're dealing with high-value and volume foreign exchange transactions, our team of FX experts can help secure significant savings. This can lead to substantial savings, particularly for wealthy high net worth individuals, international businesses or individuals dealing with regular or large-scale foreign currency transactions. Typically, we offer half the fees of the major banks through our FX partners or major foreign exchange in the millions, our rates and platform will beat the market.

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By understanding and applying these principles, you can ensure that you minimize unnecessary costs and get the most value from your foreign currency transactions.

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