News partners with Send FX

As an Australian business owner, if you conduct business overseas and are required to send or receive funds in multiple currencies then understanding the foreign currency market and knowing the current exchange rates are an important part of your overall business and profits.

We have recently partnered with SendFX, an Australian foreign exchange specialist that saves their clients thousands of dollars every month through fee-free transactions and secure market-leading FX technology.  Send offers bank-beating exchange rates to over 30 different countries, along with your own dedicated Foreign Exchange Specialist who personally and securely manages your account and transfers.

With this in mind, we’ve teamed up with the Sales Director at SendFX, Chris Broadfoot, to provide you with some helpful information when you’re next dealing with foreign currency.

Beat The Banks:

Did you know that using your bank to complete your foreign exchange transfer could cost you an extra 2-3% through their poor exchange rates?

Additionally, banks often charge you a processing fee of $20-$30. This may not sound like a great amount, however, if you’re sending more than one million dollars per year overseas then an extra $20,000-$30,000 would no doubt be better on your bottom line rather than the banks. But what if you’re sending five to ten million dollars a year? You’re now looking at a potential cost savings above $100,000 per year if you were to talk to an International Money Transfer Specialist, like the ones at SendFX.
xchange Rates Change:

Understand that exchange rates move every second of the day. So, if you’re checking a rate in the morning but don’t transfer till the afternoon, you may see a huge difference in what you receive. Even a movement as small as 1% throughout the day could make a difference of $1,000 on an international transfer of $100,000.

Exchange rates can move anywhere from 0.5% – 3% in a day as economic data about interest rates, employment data, and inflation figures are released.

Chris Broadfoot said he’s “assisted thousands of clients with saving money over the past five years whilst offering a concierge service that client’s value.”

With Send’s corporate arm growing, Chris and his dedicated team are enthusiastic about assisting more local businesses save money whilst also managing risk in the volatile world of currencies. Chris said, “a big part of what we do is also assisting clients in managing risk. We’ve seen the AUD and USD rates fluctuate over 8% just in the past 12 months alone, and as someone with a background in importing I understand how much that can affect your business.”

Send will talk you through the process, assist you in saving money and managing your risk, all while providing a reputable service. Chris said his team “speaks directly with clients to understand their situation, pain points, and the frequency of their potential transfers to present a solution that not only saves them money on rates but also protects them against further fall of the AUD.”

Please click HERE to contact Send directly for further information on Send and their services.

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