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International Payments

Introducing a low cost way for businesses to send money abroad

best currency rates

JUNE 2021

Bottomline 2021 Business International Payments Barometer revealed this month that almost half of businesses across Great Britain find it difficult to pay suppliers on time. The report also highlighted this lack of confidence is felt most by small businesses (who are crucial to our economic growth )and 67% of businesses feel receiving and sending money quickly, has never been more important.

The Currency Club observed this gap in the marketplace. Business's foreign exchange and payments requirements were not being met fully and we decided it was a great opportunity for us to launch a platform tailored specifically for companies.

Our global international payments platform for business was launched at the start of 2021, in the midst of a pandemic and from our viewpoint, the timing could not have been better.

Whilst these Covid times have been extremely trying for everyone, many businesses have really struggled and been forced into survival mode. Revisiting operations, reviewing foreign exchange fees charged by third party providers and ensuring access to cash flow in uncertain times.

The Currency Club had already constructed a solid framework for international payments for individuals but we wanted to provide something more bespoke and sophisticated for business clients without losing the easy to use interface.

After several months in beta phase testing, we introduced a slick platform where businesses can easily log on, send money abroad with confidence and have the certainty of funds reaching suppliers and clients abroad in good time.

How are we different?

Unlike other Fintechs that simply offer smart technology, we combine first class technology with our wealth of foreign exchange experience to produce a bespoke currency management solution for every business client. Each of our business clients have direct lines to their dealers.

Appreciating that every business is unique and fully understanding their operations and the factors that impact their specific marketplace is crucial. For these reasons, we offer a consultative approach and we will only agree to work with you if our team feel they can add value to your bottom line.

For us, our client portfolio is about quality not quantity.

What services do we offer?

Liquidity at the best Exchange Rates

If you still happen to use your bank for foreign exchange, we can save significant sums on your foreign exchange fees. With our multiple lines of liquidity, we do our best to offer our business clients best in market exchange rates on the currency pairs you trade with us whilst providing complete transparency. We offer a free of charge trade audit on your historical trades to demonstrate potential savings we can make for you.

Global payments platform for instant pay-outs

For many businesses access to a 24/7 online portal may be sufficient and can meet their requirements perfectly. If a client already has a hedging policy in place that is working for them and simply wishes to execute spot or forward transactions, they can do so quickly and securely with email updates and system alerts for easy execution.

Implementation of a Risk Management strategy

For other businesses, they may require more guidance on how to manage various exposures that they may possibly be unaware of. Our role, is to understand the inner workings of the business and the environment it operates in.

For these clients, our team can devise a more sophisticated proposal to protect the bottom line. Access to the platform would be available for execution and equally, a dedicated dealer via telephone brokerage could be another option.

Mass payments

For those companies that have to make frequent multiple payments abroad to suppliers or employees, our platform offers a quick solution to do just that via one single file upload.

Our platform provides further in-built bank account verification and a second user double check functionality to avoid payment errors and increase payout efficiency.

How is The Currency Club different?

Our consultative approach, in house culture and proven track record cover both physical banknotes and international payments services within the foreign exchange sector which differentiates us from our peers.

Our technology

The company has invested heavily in our very own technology and our tech team are based in Bangalore. The online platform is built by us and owned by us which means we have complete control on improving user experience and adding features. The robust platform enables our clients to send money abroad quickly and securely with a clever dashboard offering a suite of tools to make execution that much easier.

Innovation labs

Our goal is to keep enhancing, evolving and tweaking our cutting-edge platform across a range of products to offer best execution. We stay focused on maximising an effective hedging strategy for our clients, whilst minimising any associated costs.

Price transparency

Our technology shows you the interbank exchange rate across all currencies when you transact. There are no hidden fees or additional costs. The system is spread based but the spread we charge is a percentage and is agreed with you in advance so there is complete transparency.

Our people

Every business is only as good as its people and we have a knowledgeable and driven team of individuals that understand business and enjoy creating clever cost cutting strategies the impact the bottom line. Our on demand dealing platform means you can send money abroad at any time and if you prefer, you can speak to our FX dealing team via telephone for a heads up on what's moving the markets.

Ethics, expertise and aligned interests

We are not fee driven brokers. Our working culture is based on integrity and we work tirelessly for our clients. If we feel that your business does not require our consultancy services, we will honestly tell you.

We also are not trying to be a challenger bank. We have over 40 years experience in this sector and we live and breathe the foreign currency markets every day. Our genuine interests lie in understanding businesses and adding value.

This is at the core of what we do, we are not interested in a quick buck but about building a partnership with you as your business grows from strength to strength.

Our organisation consists of problem solvers and those who think outside of the box to create clever solutions for our clients.

Whatever your size and whichever sector your business is involved in, if you have a requirement to send money abroad get in touch with us today.

We have made our account opening set-up simple and one of our team will reach out to you once you have initiated the process.

Please reach out to our team of foreign exchange experts who are on-hand to support you with your international payments.

Call us on 0207 723 7000 and see how we can save you money.

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Disclaimer

We have made every effort to ensure that the information published here is correct and accurate, however you should check and confirm the latest exchange rates with The Currency Club directly prior to making a decision. The information published is general and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available

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