Not so much a guide, more a 'how to'.

Strip away the fact that you've earned your entitlement and at a basic level it is a case of exchanging your bonus from one currency in to another.

How do you do it at the moment? Is the rate/spread at which you sell your USD, EUR, JPY or HKD bonus as competitive as it can be.

The chances are that if you use your bank you're leaving money on the table.

Chances are also that you hold a personal or business account denominated in the currency your bonus is paid in. This helps you to chose when to sell, but, unless you're focussed on pushing your bank as tight as they're prepared to go, holding a foreign currency account has little effect on the spread you get. You're still a retail customer.

Our brokers often hear about how your bank gives you a 'tight spread'. In a couple of instances traders and brokers alike have informed us they get 'two points' from the mid. On closer inspection we identify that 'two points' actually means two cent (on cable) which is over 200 points from the market. Hence, what you think you're getting may not be what it could/should be.

So, the first thing it seems incumbent upon us to suggest is that you talk with a currency broker well versed in deciphering what rate you actually and usually receive.

Once we have established the margin by which we can undercut your bank (or even your current currency broker) we can simply sell your bonus, dividends or incentive pot in to the currency of your choice at a price that is more competitive.

We may ask you to lodge funds on account with us.

We ask this because it means we can be more precise on when the currency you buy will clear with you by way of our onward transmission. It is rarely something we will insist on, but, if suggested you should be assured that funds are held in FCA compliant segregated trust facilities and are therefore ring fenced and protected for however long they remain with us.

On receipt of your settlement sum we simply release the currency you've bought at the price agreed.

You won't be in any doubt as to how much you'll receive or when it will be credited to you.

What's more, if you instruct us so, all you have to do is send us the settlement. We can operate at a set spread and just flip the currency into the tender of your choosing without delay and using whichever contract gets funds to you as quickly as possible.

Those with deferred liquidity arrangements (by that we mean staff who are told their bonus before it is paid to you) can talk to us about hedging exposure to the risk of the rate moving against you between the day of pricing the amount and the day on which it is released.

Such discussions are always and simply part of the service, and our spread needn't change based on the contract selected.

We've carved a niche across a number of trading rooms/floors precisely because the language we use is direct and yet familiar, we undercut when we say we will and we do not compromise on service quality based on client interaction.

Whether imminent or due at a date in the future, give us a ring on 0203 172 8193 or send an email to brokers@primecappayments.com.