Our client is an executive at one of the worlds top accountancy firms. He and his fiance plan on marrying abroad. Since March of 2014 they have been drip-feeding sterling into a euro account they hold with Lloyds bank. The rate being good or bad doesn't really have too much of an effect on whether they convert, although they are in touch more so when sterling is stronger because, well, why not? They need to convert regardless of where the market sits because they obviously

Given the strength of our presence in the interior design space we thought we might elaborate on one of the more niche elements of our service for UK based sales agents. As with all our posts we endeavour to ground our discourse with direct examples of current working relationships with businesses and individuals actively engaged in the transactions we're referring to. Our client is a UK based LLP that has sole distribution and sales rights over the wears of a number of non-U

The first thing to say is that Prime Cap is not the place to get a direct instruction to sell your currency today, tomorrow or at some time in the future. We aren't here to tell you where rates are going to go. Sorry to start with a negative, but, we are not in the business of 'calling the market' for our clients. This means we are not comfortable or allowed (from a regulatory perspective) to tell you to wait to do your exchange because we think the rate will be better some

You are a company incorporated and predominantly working in the UK. All but a few of your more niche suppliers are located overseas in countries ranging from China and the Middle East to Continental Europe and Ireland. What you buy tends to be priced in either US Dollar or Euro. The question is, what difference can a specialist foreign exchange company make to the way you make payments and the rates of exchange at which you have to calculate your GBP outgoings? Many people

Thinking about engaging or changing the foreign exchange company you use for your personal or business payments? Here are 7 things to consider when assessing both their competency and their integrity, and why it matters. We're conscious of the fact that those who might find this post interesting will probably already know about the benefits of a broker. So, for that reason we'll go more into the whys of these questions than explaining the minutiae of the terms being used.

As far a currencies, payments, people and companies are concerned, each may be affected in the same and different ways simultaneously. The UK's withdrawal from 'Europe', the single market and the close alliance with our continental neighbours may very well change our entire outlook on trading and payments, not because the public voted for that, but as an inevitable reaction to the change in our relationship with Europe. Most blogs written since June 2016 have concluded that

Many small businesses can accurately, if not precisely, calculate their projected sales in the nearer term...over the coming two months, let's say. If buying items, components or actual products from suppliers abroad, small businesses will face just as real a foreign exchange exposure as their larger peers. The same tools and techniques that could mitigate the exposure of a larger business can be utilised by smaller businesses, and to the same effect, however, banks do not of

Our client is a sole trading interior designer. Much of her time is spent developing her own properties in both London and South Africa, for which Prime Cap is her broker, but, on occasion, she will take on commissions from private clients. Her customer will ask her to execute every transaction associated with procurement for the scheme, whether that means arranging deliveries, commissioning bespoke pieces or even sourcing items and elements from supplier in the UK and abroad

1. UNLESS YOU HAVE FOREIGN CURRENCY EXPENSES, YOU’RE GOING TO NEED TO CONVERT YOUR FOREIGN CURRENCY REVENUE. We love the HSBC advert with the little girl selling lemonade: ‘I’m on the phone to my supplier in France!’. It is charming and positively prophetic in its illustration of a) how easy it is for small businesses to deal internationally b) how simple small businesses think it is and will be to sell in a country other than your own. We like the advert, but it is silly.

In order for a currency company to both ‘buy’ and ‘sell’ a currency we require three things: The first is a bank account to receive the currency we are converting from, the second is a bank account for the currency we are 'sending' or converting to, and the third is an institution who is prepared to act as market maker to facilitate the transaction. In some cases a currency broker doesn't have to expressly hold an account in a currency to be able to transmit it. We can simp

Our client is an executive at one of the worlds top accountancy firms. He and his fiance plan on marrying abroad. Since March of 2014 they have been drip-feeding sterling into a euro account they hold with Lloyds bank. The rate being good or bad doesn't really have too much of an effect on whether they convert, although they are in touch more so when sterling is stronger because, well, why not? They need to convert regardless of where the market sits because they obviously

At the begging of July 2016 we received this email from a prospective client introduced to us by one of their employees. The employee in question did and does use our services for their personal international payments - sending money between the UK and their base in Fort Lauderdale, US. This post relates to our response, what we suggested to the prospective clients, what solution we think they may elect to implement and why they may not choose to opt for a couple of our sugg