#payments

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The latest insights, views and industry developments from Prime Cap focusing on private client foreign exchange, corporate transaction services and international payment strategy.

Do law firms refer FX brokers? No!? Well, why the devil not?

A brief one today: We recently provided one of our clients with €64,000 more than her bank. Context: The client was introduced to us by word of mouth. She had recently divorced. Some weeks before her introduction to Prime Cap she had received a sterling lump sum, sent directly to her euro bank account by her ex-husband. Her bank, AIB Private, on receiving this sterling amount, exchanged them directly and straight into Euros...without asking her or even confirming the rate of

Planes, Trains & Automobiles.

This week's post is all about getting more for your money - a sentiment perfectly encapsulated in the three examples we are about to detail. Planes, trains and automobiles - three different clients, three different treatment, one company to trade them all. So, let's begin at 30,000 ft. Our client is an independent UK-based aircraft charter broker. They are European specialists in commercial jet, private jet and helicopter charters and uniquely positioned to deliver the perfec

How to: send multiple payments, cheaply.

There are all manner of elaborate ways for big businesses to inject stunningly convoluted mechanisms for multiple payments associated with payroll, top-ups and other batch or bulk transmissions. Annoyingly for small businesses it always tends to cost more than it should and take up a fair bit of time, particularly when the recipient is abroad. So, in this simple and quick post we will give two examples of clients of ours who make use of us to send multiple payments. We'll ex

Safety in numbers: 5 reasons an accountant should align themselves with a currency broker...

1. Advances in online facilities mean that you can now login to work with a nominated currency broker across a number of different financial verticals, for instance creating reports, confirming orders and capital flows, and rates of exchange as well as receiving eyes-on access to your clients' activity - which can, on the invitation and authorisation of your client, extend to the actual execution of transactions. Without an online system accountants can or could only rely o

What do you need to know before using a forward contract.

In recent weeks we have seen the pound rock against EUR from a low 1.10 in September to a welcome but pretty lack lustre high of 1.1450 in early October; and now back. These moves may not seem like much when you look at them on a screen or hear about them at the end of News Night, but, for businesses on the ground who are forecasting their costs and trying to make payments, these movements can be both costly and very unsettling. So, what can a forward contract do to help you?

Topping up the overseas account? Make it as easy as possible.

A huge number of people use their bank to send an international payment. Whilst this is totally unsurprising, we'd like to give you some reasons why using a company like Prime Cap might be better, cheaper and easier. The rate you'll get: For a couple of reasons, your bank isn't minded to improve a rate of exchange when pushed to do so. A lot of time and money was no doubt spent on your bank improving and refining their online banking offering to their customers. Sending an in

Renting in Switzerland: What are the FX concerns?

Preliminary research will inform you that in order to buy property, whether residential, investment or commercial, you must have a permit/license and be compliant. Swiss regions are known as 'cantons' and each has its own rule about foreigners and their ability to legitimately buy property. Broadly though, if you already live in Switzerland and have a permit so to do as well as being an EU national, or you hold a Swiss C Permit (permanent residence permit), you can buy prope

What is your Q4 strategy? 4 things you should be thinking about.

Europe tends to take a holiday during August and it takes the work force about four weeks to get back into their groove once it is over. Maybe this is why the final quarter of each year is, anecdotally, perhaps the most unpredictable and informative with regards to commentary on the relative health of economies like that of the United Kingdom. Generally speaking, the pound rises as the year enters Q4. Whether this is because the markets are getting excited about the potenti

7 ways to test your broker.

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.

Buying property in London with US dollars...

At Prime Cap we talk a lot about the work we receive from the legal sector. We're very good at establishing relationships with conveyancers and we like to think this is because of our teams engaging personalities, but it is most certainly because of the direct return we provide their clients. It was, therefore, intensely gratifying for our Americas team to be referred to a lawyer for their personal dealings. The ante is always upped when one is dealing with those who alrea

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Blog

The latest insights, views and industry developments from Prime Cap focusing on private client foreign exchange, corporate transaction services and international payment strategy.

Solutions, both tailored and complete.

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