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5 reasons why PCL Landlords should consider working with a currency broker.



Whether you manage your properties yourself or rely on a company to do it for you, if any, some or all of your income gets sent overseas or converted to a different currency then the skills of a personal currency broker could help you.

Not only will they improve the rate of exchange you get but, a broker's involvement adds to the speed with which you are paid, how you go the about reporting of transactions, profit and yield, and the overall collection and management of payments from tenants and to stakeholders or suppliers alike.

Let's see how:

1 If you rely on the services of a company to collect rent for you and/or manage your property related payments and expenses, then, by aligning themselves with a currency broker, said company can streamline the sending of money to you. Their existing service benefits you further by embedding a commercial rate of exchange into transactions.

Your management company collects rent in sterling? You live outside the UK...so, those pounds will be exchanged either before they reach you (and arrive as a foreign currency) or by you when you send them to yourself overseas at a later date. Your property management company ensure that you benefit from up to a 5% improvement in the competitiveness of the exchange rate used to convert you sterling simply by working with a FCA regulated broker or agent - like Prime Cap.

Currency brokers like Prime Cap operate at 'commercial' rates of exchange.

These are significantly more compelling and competitive than the retail rates most property management businesses can achieve through their high-street bank.

We do not mean to malign the services of a property management company, but it is entirely fair to say that their UK banking needs probably don't venture into the sphere of negotiation of exchange rates. They rely on their bank for an overdraft facility, business debit cards, maybe some sort of insurance...but, international payments and the rates provided to a solely UK reporting business tend not to come under scrutiny. This means we have an edge we can offer to such businesses.

So compelling is the rate improvement in many cases that some property companies have brought their foreign exchange and payment services capabilities in house - using our brokers as their brokers so as to shorten the client journey toward better value. By this we mean that certain London based firms actually introduce their customers to us as their dedicated team to execute payments and exchanges. If this sounds interesting to you and your business then do get in touch.

2 Landlords who manage their own property portfolios can sometimes struggle to centralise payments. Maybe you receive money from tenants on different days of the month? Are you paying suppliers in one currency, but earning in another?


The new and improved Prime Cap payment platform enables you to see all of your currency activity in one place, online via desktop or mobile devices.

You can quickly and simply exchange money and send payments to numerous suppliers and from a number of tenants or stakeholders all in one place.

3 What happens when a payment does not arrive when and where you thought it would?

One of the main complaints about high street banking practises (when it comes to currency payments) is that banks are not well equipped to help you find out where your funds have gone. Maybe you put an incorrect digit for the account number of your recipient? Did you misspell the name of the recipient?

Perhaps because of their size, your bank can be slow to act and it may be difficult for customer service representatives to cut directly to the issue and provide useful advice and guidance.

With Prime Cap, your dedicated personal broker only deals with currencies and international payments. We already have all the information to hand and we can contextualise it for you, providing you with plain and easy to execute advice and instructions. What's more, we give you certain helpful information as standard when you carry out a transaction, so, you already have things like SWIFT and MT messaging information to hand. We explain how to use it and the quickest way to resolve your issue.

4 Up to 90% cheaper payments.

Like most financial institutions, Prime Cap charges you for the payment you send.

We do this either by applying a fee on top of what you're exchanging, or by including the cost within the rate of exchange we quote you. The choice is yours (if you have a preference).

Our payment charge will always undercut your bank.

How much by rather depends on the bank you use and what action you are asking us to perform.

Your UK high-street bank will charge you anywhere from £6 to £32 to send money internationally.

Usually private retail customers of banks can only transmit a limit of £10,000 in one action through online banking. Therefore, for someone who wants to send more than this they need to send more than one payment, which results in that charge of £32 each time.

Prime Cap enables you to put all the money you want exchanged/sent in one place and to send it overseas for one fee and in one go, and at a cost of up to 90% less than your bank.

This is extremely valuable for Landlords sending multiple payments per month to and from their country of residence.

5 Professional and amateur Landlords have better things to do that watch rates of exchange - surely?


Well, if catching a rate of exchange at the right time could save you or make you money, then we suppose that more people would pay closer attention, but, when they don't want to...we can.

Because we only work with currencies, we are always looking at, studying and aware of movements in the major rates of exchange. This means that, if anyone is going to react quickly to good or bad movements up or down, it is us.

Ringing you or emailing you to tell you that the rate you want is less likely, or to say that you can now exchange at the level you desire, is all part of our personal broker service. Imagine receiving a call from a financial institution that actually saved you money rather than costing you it!

We warmly invite you to email us at brokers@primecappayments.com or call us on 02031728193 to begin a very low key conversation about the way we work, the money you could save and the reason why we were the Wealth & Finance Awards 'Best UK Currency Broker 2018'...

brokers@primecappayments.com | 0203 417 5781 | www.primecappayments.com

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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 3AXPrime Cap is partnered with, and a programme manager of, Ebury Partners UK Limited who provide Prime Cap's FX and payment services.  Ebury Partners UK Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Financial Services Register No. 900797) and is registered in England and Wales (registered no. 7088713). Registered office: 3rd floor, 100 Victoria Street, Cardinal Place, London, SW1E 5JL.  Ebury Partners UK Ltd is registered with the ICO with registration numnber ZA345828.