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You would switch your utilities provider for a £1500 annual saving; why not your FX provider?


We recently conducted a rate comparison for a company that already uses a non-bank foreign exchange company for their international payments.

By using a very simply historical rate comparison protocol we were able to establish the high and the low for the GBP to EUR rate of exchange on the day the prospective corporate client conducted their last transaction.

Using this methodology is the best way to provide the worst and best case savings comparison for the client without them needing to reveal what rate they actually got.

If their rate was worse than the lowest mid-market rate for that day, even when taking in to account whatever margin we might provide, then the client knows they could be saving by switching.

As it happened, the client in question actually forwarded their latest 'deal confirmation' on which was detailed the time of their most recent booking.

We identified that their current currency providing was one who cent less competitive than they could or should have been.

We do not give currency away ourselves, so our rates are always realistically priced, which made it all the more satisfying to demonstrate the savings this small business could make over the course of the year.

We calculated, conservatively, that they were leaving £150 'on the table' every time their exchanged with our competitor.

Whilst they might only buy and sell £300,000 a year, the saving of £1500 is a compelling figure and pays for their accountant, a month's rent, a holiday for someone, or the Christmas party.

Like individuals, companies get settled with one provider, however, the ability to quickly switch providers has emerged as a desirable characteristic of the challenger foreign exchange boutique, like Prime Cap.

You're most welcome to call or email us to compare in the same way outlined above.

It may not change your life, but, for a business it can be a tempting efficiency and cost reduction and it is easily done.

Call our broking team on 02031728193.

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Solutions, both tailored and complete.

Offering private and corporate clients access to terms, rates of exchange and tools tailored to their transactions. 

Prime Cap Payments Limited (T/A Prime Cap | Prime Cap Payments | Prime Cap Global Payments) is registered in England and Wales No: 10755730. Registered address: 27 Old Gloucester Street, London, WC1N 3AX. For clients based in the United Kingdom and rest of the world, payment services for Prime Cap are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).  For clients based in the European Economic Area, payment services for Prime Cap are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701). For clients based in the United States, payment services for Prime Cap are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011. 
 

All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.

 

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