June 19, 2019 — 5 min read
When it comes to running an import or export business, or making payments to overseas suppliers, having an international money transfer service provider like XE in your "corner" makes for a great tag team.
XE helps you stay focused on your core business objectives, like:
Building your merchandise, raw material or component inventories
Managing supplier, employee, and customer relations
Processing orders and creating efficiencies in your supply chain
Covering all of these responsibilities is challenging enough. Adding international payments and foreign currency strategies can distract you keeping on the road to business prosperity.
XE can empower your business by:
Offering a variety of cross-border payment options including forward contracts and spot transfers
Advising you on foreign exchange risks and opportunities
Enabling mass payments to international recipients when exchange rates are in your favour
Providing services which are reliable, transparent, and predictable
Acting as a trusted forex advisor, and help prepare you for exchange rate turbulence in uncertain times
Managing regulatory compliance requirements
For XE, becoming the world's trusted currency authority takes commitment, patience, combined experiences, and time. Just as you and your colleagues have invested time, money, and "sweat equity" into getting your business to where it is today, and maintain the growth trajectory it is on. We'll even help you set up Rate Alerts for when exchange rates are in line with your risk tolerance.
An long-term forward contract is not the answer for every business, such as in the case of Down Under Enterprises. They contract exchange rate holds for two months at a time. Other companies like JUCY Rentals juggle multiple foreign currencies, and XE consulted with them on building strategies and policies around how to best handle individual currencies.
Recent reports from the European Central Bank and the Australian Competition and Consumer Commission describe how in the realm of foreign exchange rates, customers in some regions have been charged higher exchange rates than their peers in other countries. They report some businesses and individuals that are unfamiliar with foreign exchange are charged higher rates than those with deeper understanding of the currency markets.
You probably know the expression, "Give a man (or woman) a fish, and feed him for a day. Teach a man to fish, and feed him (or her) for a lifetime." Our corporate traders and customer-facing representatives may not teach you how to fish, but they will help you understand money transfers.
(If you are disappointed that I didn't provide any tips on learning to how to fish, you might want to go a little further into the water than this Dad and daughter. Unless you are looking to catch flying fish.)
Here are some other resources beyond this blog to help you build your knowledge about money transfer.
Our FAQ page
At XE, our tradeable rates are dynamic, and priced competitively. They are based on the latest mid-market rates, sourced from the world's most trusted government and banking institutions. We offer a wealth of tools, insights and guidance to put even our first-time customers on an equal footing with those who have made multiple money transfers with us.
We priotize client value, return on investment, and trust. It's how we've earned a five-star rating on TrustPilot and positive reviews on popular travel websites. It's also how we earned the privilege of transferring hundreds of billions of dollars among 127 countries, over 25-plus years.
Success in the highly-competitive online money transfer industry requires focus and maximum effort. We eat, drink, sleep, and breathe international currencies.
Sure, that means we're not always the most fun at parties. Our children often roll their eyes when we tell them jokes which involve currency names. dAs Snoop Dogg would say, we've got our minds on foreign money, and foreign money on our minds.
Our teams in the UK, Europe, North America and APAC all prefer to share that knowledge here on our blog, on social media, and our email newsletters as opposed to hoarding that expertise. It's how we build and sustain relationships.It's what drives us to continously innovate, evolve, and raise the bar in our industry.
Your (and your money) have important work to do - to drive business growth. XE can enable you to do just that, without taking hours out of your day to become a foreign exchange expert. We have that covered.
Do you have an international money transfer requirement, but you've been holding off due to market uncertainty, lack of experience with international payments, or not sure where to start? We're happy to answer your questions,