Use a specialist business to make your currency exchange and save a great deal of money. Using a bank to transfer your money abroad can be a costly, as they tend to charge commission and a transfer charge, whereas most specialist currency exchange companies rarely make these charges.

In addition, a high street bank is likely to give you a worse rate of exchange than a currency broker can.

However, currency exchange brokers differ wildly, both in terms of service and value. Like all service providers, they offer services that are similar, but the differences appear subtle yet make a vast difference to your pocket.

Choose a currency broker that is interested in you, or your business. Most foreign exchange businesses will simply take your instructions to make the currency exchange, then transfer your money to the destination account. You need a currency broker who will take a bit more interest in your needs and will then advise on the best way to maximise the net amount from the exchange.

Here are some of the services that you could take advantage of by choosing a currency dealer carefully:

Regular payments:

If you have to make regular payments overseas such as a pension transfer, or maybe a mortgage payment, or payments to overseas suppliers, business partners, franchise operations for example, you could fix the exchange rate for as much as 2 years ahead. You could then set up the payments so that you can concentrate on other matters. The alternative is to use a dedicated currency exchange dealer, who can pick and choose when would be best for you to change your money. Neither of these services have a charge attached when you use fx-foreignexchange.

Stop loss currency exchange:

A “stop loss” contract lets you decide on a rate that you would be happy to make a currency exchange. We can arrange for the money to be exchanged as soon as a particular rate has been achieved. The money is bought automatically.

We can add to this service by placing your details with an individual dealer. That dealer will then contact you as soon as the agreed rate is achieved and you can then decide whether you wish to make the exchange. To take advantage of this particular service, you need to register with us first though as currency rates can change quickly and it takes a few minutes to register. Registration is free.

Fixed currency exchange rates:

For businesses, or individuals, that have to make a money transfer overseas sometime within a few months, it is possible to pay a small deposit and fix the rate of exchange, then pay the final balance nearer the time of the actual transfer.

This is great for cashflow and takes the stress out of situation because you will have already fixed the rate of exchange and have ruled out the possibility of losing a great deal of money if the rate becomes unfavourable. For example, just a few months ago, the rate between the US Dollar and the GB Pound was around 2.04 Dollars to 1 Pound. The rate today is about 1.78 Dollars to the Pound. This is fine if you have dollars to sell and pounds to buy, but imagine you wanted to buy 100,000 Pounds worth of Dollars. If you had fixed the rate in advance, you would have bought $204,000. However, at if you hadn´t fixed the rate and went to change the money today, you would have received $178,000.

The difference in the exchange rate would have resulted in a loss of $26,000 !

Why take the risk? If you are in business, contact us and we will be pleased to allocate you a specific dealer who will take care of all of your foreign currency transactions.

Our UK number is : 0044(0)1480 458400, or just go to CONTACT US.

For more information, please visit fx-foreignexchange.com

Tags: aed, brazilian real, currency conversion, euro, foreign exchange, pound, us dollar, yen, zloty

FX-foreignexchange have a small team of specialist currency dealers, together with a support team, who cater for larger business clients such as trust fund companies, larger conglomerates with separate businesses in different financial zones around the world.

Often, these businesses have a long term arrangement to make regular money transfers. The individuals involved have other tasks to perform within the operation so they regularly go down the line of least resistance. They use their banks! Clearly, if you are a good customer, the bank will offer you a favourable rate but rarely will a bank offer the level of personal service that fx-foreignexchange can offer.

We were recently introduced to a Finance Director who had the task of transferring in the region of 1.4M Euros every month to his European counterparts. He had negotiated the costs with his bank and rang them to negotiate the rate each time he needed to make the transfer, so he felt that he had got the best deal for his business.

We were happy to demonstrate over 3 months that he had saved in the region of 20,000 pounds with a combination of spot rate buying, forward buying and stop-loss orders.

Of course, he didn´t have time to keep an eye on the rates. And, he certainly didn´t get a call from his account manager at the bank every time the rate was favourable. He didn´t even get a daily FX rate update on his email from his bank. He DID get all of that from us.

It retained company profits and made his job easier. If you would like an informal discussion on how we can help your business to retain more profit when dealing overseas, please call us and ask for David Osborne.

Our UK number is : 0044(0)1480 458400, or just go to CONTACT US.

For more information, please visit fx-foreignexchange.com

Tags: aed, best rates, currency conversion, dirham, euro, foreign exchange, pound

Time to Sell your Dollars and Buy Euros?

The US Dollar has climbed back to a six-month high against the Euro. With continuing fears that the European economy is transferring from a gentle slow-down to a full-blown recession, the Dollar has made vast gains in the foreign exchange rate.

The German economy seems to be the largest cause for concern, with a low of $1.4571 to one Euro on Tuesday. Leading market analysts have expressed views that Germany appears to be heading into recession and will likely drag the rest of Europe with it.

The American dollar has taken full advantage of the situation, but European exporters must be pleased with the current situation as their goods will now be cheaper overseas.

Exporters from Europe can take advantage of the fluctuating rates by contacting a currency broker and arranging for forward ordering of currency to be made on their behalf.

Fx-foreignexchange have currency dealers specifically allocated to business accounts. The currency dealers develop an insight into their client’s needs and buy, or sell, foreign exchange accordingly leaving their clients to do what they do best while saving money.

Tags: dollar, eur, euro, foreign exchange, usd

Looking to buy, or sell AED’s?

• Get the best exchange rates through us.
• We have an office in Dubai for UAE dirham currency conversion.
• Save money through us. Currency transfers are usually made for free. We offer better exchange rates and we will be pleased to quote to handle your regular money transfers in AED, euro, dollars, pounds and more.
• Secure money transfers made using our treasury provider, HSBC.

Contact us by phone   +44 1480 458400,   or please fill in the short form and we will come back to you with a great currency exchange rate.

Remember to let us know whether you wish to buy or sell dirhams:

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Tags: aed, best rates, Currency, dirhams, dubai, gcen, global currency

The UAE dirham and international money transfers

About the AED:
AED, or dhs / dirhams, is fixed to the US Dollar. As a result, the recent decline in the value of the US Dollar against the Euro and the GB Pound has had an obvious effect on the AED rate when trading currency in Europe.The UAE dirham (AED) is divided into 100 fils. Coins are in 5, 10, 25 and 50 fils and AED 1. Notes are in denominations of AED 5, 10, 20, 50, 100, 200, 500 and 1,000. $1 = 3.6722AED and currently £1 = 7.2504AED.

Currency exchange between Dubai and London:
With the opening of the Gatehouse Bank Plc in Central London, a fully compliant shariah bank, there is likely to be an influx of interest in exchanging AED´s for Pounds.
There are no restrictions on the import and export of money into, and out of, Dubai.

Everyone holding a residence visa in Dubai is allowed to open a bank account and to import and export funds, although it’s unusual for people to bring funds into the country with the current excepion of foreign funds being used to buy property in Dubai. Accounts held overseas are of no interest to the fiscal administrations in any of the states. No declarations of currency are required when entering any of the territories, so travellers can move currencies in and out without restriction and in any form that they choose.

International bank transfers are something the Dubai currency exchange brokers handle comfortably. The money transfers out of Dubai have long been a lucrative business, particularly since the property boom began in recent years. The large number of expats who have moved to Dubai regularly exchange their money, and make transfers abroad to their home country.

How to transfer aed and get the best exchange rates:
All the retail banks will transfer money to any destination and in any currency. Many people find it convenient to use their own bank to transfer money overseas, but there are plenty of currency dealers offering this service, so shop around to obtain the best currency deal. The main factors involved in transferring funds overseas are the exchange rate offered and any commission charges plus the money transfer charge. The rate quoted by a high street bank may look attractive, but if the combined charges are high, you might be better off with a company like fx-foreignexchange. In addition, many overseas receiving banks will make a recipient charge. Using fx-foreignexchange, there will not be any receiving charges in most cases.

Different transfer systems are available, and the speed of transfer is the main determinant of the charge levied. The methods are postal, bank-to-bank, telex, telegraphic and SWIFT (or similar titles). For an explanation of currency terms, visit this page.

If you intend to send significant amounts of money abroad for business transactions, such as buying a property, or making a payroll payment on a monthly basis, ensure that you’re given the commercial rate of exchange. The tourist rate or standard rate that you see quoted in your newspaper or posted on the bank’s currency exchange board can be considerably bettered for large exchanges and transfers.

Fx-foreignexchange have a currency trading office in Dubai.

Get a quote for the best aed, eor, gbp currency exchange rate today, just call +44 (0) 1480 458 400
or simpy fill in the form:

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Tags: aed, currency exchange, dubai, gcen

A Payment Management System (PMS) for overseas payroll payments has been developed for the London based Global Currency Exchange Network Ltd. (GCEN). GCEN provides worldwide payment and currency services for individuals and businesses for purchasing of Overseas property, emigration, business payment transfers, payroll processing; any function requiring the transfer of funds in a variety of currencies.

The overseas payroll payment system is designed to integrate, and automate, the payroll transfer service offered to clients worldwide. This service allows companies with staff from around the world, to provide their employees with the ability to transfer money to their banks in their home, or other, countries. Clients such as shipping lines, cruise lines, airlines, currently make use of this to provide enhanced payroll service for their employees to transfer allotments to a spouse or other family members, home mortgage or other loan payments, while they are away from home.

Because Global Currency Exchange Network aggregates large amounts of currency exchange, they can negotiate favorable exchange and process rates with global clearing banks such as HSBC. Using these favourable bulk rates, GCEN can offer their clients exchange services at rates significantly below what the individual client could obtain on their own and still make a profit on the exchange. This allows the client to provide a valuable service to their employees at a reasonable cost.

GCEN currently performs this function using a wide variety of different mechanisms for clients including Cunard Lines, Carnival Cruise Lines, Steiner Transocean, and others. PMS allows Global currency exchange to standardize all stages of the processing, and allows their clients to use a standard Internet access to enter employee and payee data along with payroll and contract transactions. This information is collected and grouped by client, currency and destination bank account. GCEN then enters the financial factors and the system calculates the exchange rate and the resulting amount to transfer for each payee and currency. When this is completed the data is exported in any of a number of formats for use by various bank clearing houses worldwide and the funds are then transferred to the payee accounts in the correct currency.

PMS also provides funding requirements and transaction detail data for each client for the various payment transactions that tells the clients not only the aggregate amount they must fund to GCEN for the transfer, but also the individual transaction details for each employee. Reports can be generated at each stage of the process beginning with Employee and Beneficiary import, Transaction import, approval and release to processing, GCEN processing and funding, etc. Data is available to the client and their employees showing current and historical transactions for each employee.

System configuration allows Global Currency Exchange Network to customize the function and appearance of the system for each client including features such as client logo, whether employee data is stored on the system or regenerated with every payroll cycle (some clients prefer this for operational and security reasons) and other client specific details.

This system is ideal for all businesses who employee personnel who wish to receive all, or part, of their monthly wages in a currency other than the employer´s bank. The business management is handled at fx-foreignexchange. For more about the company, view the website.

This Personnel Payment System is perfect for cruise ship companies, airlines, large corporate company´s with major work forces worldwide, seasonal immigrant workforces such as fruit and vegetable pickers.

To discuss how fx-foreignexchange can improve your Company´s profitability and aid your workforce, contact us on +44(0)1480 458 400 or fill in the contact form below.

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Tags: global, global currency exchange, overseas, payroll, wage transfers

Get the best currency exchange rate available today…

Just call our Head Office on

+44 (0) 1480 458 400 if outside the UK,

or 01480 458400 ( in the Uk) and we’ll quote you the best exchange rate for Euro, usd, gbp, aed and more.

Alternatively, fill in the short form below, and we will get back to you with the best foreign currency exchange rate.

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See today’s currency exchange rates for aed, usd, gbp, pounds here.

Tags: aed, best exchange rates, eur, euro, gbp, usd

How to become a currency bureau affiliate ….

Why become an affiliate of our Currency Exchange network? If you have a business with clients that may require foreign exchange, then you can benefit from becoming associated with us and our partners - a company that is highly accredited throughout Europe. We work hard to establish and maintain long-standing personal relationships with our affiliates. We assist our affiliates with all facets of currency exchange, from performing one-off transactions, to assisting with international payroll. We currently work with numerous property agents, developers, lawyers, financial advisors and emigration specialists.

We can enhance your business by not only offering your clients an excellent service but by supplying client payment confirmations. We can also assist you with the repatriation of commissions as well as joint marketing initiatives.

To become an affiliate simply click to continue to our online registration form or call us on +44(0)1480 406080 and ask to speak to Zoe, or simply email us.

If you are an International property estate agent, you may be interested in our FREE website offer, with your properties listed for free on 2 major property web sites and a FREE site of your own. GO HERE for more..

Tags: affiliate, currency exchange, emigration, financial advisors, lawyers, money transfer, overseas

• May consumer price inflation on Tuesday is expected to hit an annual 3.2 percent. This would be above the Bank of England’s band of a percentage point either side of its 2 percent target, forcing Governor Mervyn King to write an explanatory letter to the Chancellor of the Exchequer.

• Global Currency Exchange Network, bring you daily currency exchange rates. For currency conversion, and money transfers, go to our website to create a free money transfer account.

GLOBAL CURRENCY EXCHANGE NETWORK - DAILY CURRENCY NEWS

n.b these are just indication rates as of 8.30am Monday 16th June 2008

Tags: Currency Exchange Rates, foreign exchange rates, money transfer

Tags: business manager, Currency Exchange Rates, protect profits, risk management

Some basic currency facts ….

• EUROS are the currency for 12 European countries. Many more countries are expected to adopt the Euro over the next few years.
• International money payments can be made with a wire transfer or bank draft.
• A Wire Transfer, more commonly described as a Money Transfer, can take from 3 to 10 business days. Money Transfers sent to politically unstable countries could take up to a month as the clearance process is considerably slower.
• An International Draft is a bank cheque written in the beneficiary’s local currrency. The International Bank draftis sometimes referred to as an international money order, International Bank Drafts can be deposited directly into a foreign bank account.If the amount is for a large sum, it may be better to use a currency broker and have them make the currency exchange, then transfer the foreign currency to the beneficiary’s bank.
• A Foreign Currency Draft can be used to pay your suppliers or vendors internationally. Although, these are less common now. Most businesses prefer to use a currency exchange broker as the exchange rate is usually better.
• Global Currency Exchange Network, professional, reliable, currency brokers.
  To receive a personal service for all of your future currency purchases, visit our foreign exchange site.

Tags: Currency, currency exchange, International draft, money order, money transfer

Is now a good time to buy foreign exchange?

For month’s now, the foreign exchange market has been a little nervous. With the right, professional, advice from a currency exchange expert, you can weather the storm.

As the whole Global foreign currency market is interlinked, an economic downturn in the United States can, and does, have an effect on the currency exchange rates between the US and wherever it does trade. As this is virtually every Country, the current economic downturn in the States has had detrimental effects on the Global economy. Equally, if the major lending bank in Europe hints that it will lower interest rates, as it just has hinted, then the Euro could weaken against the Pound.

While Global Currency Exchange Network don’t have a crystal ball, they can help to guide you through the maze and help to reduce the potential losses you make otherwise.

Is now a good time to buy?

Well, it depends on when you want the money available in another currency, and how much you can spare at the moment that the best foreign exchange rates are available.

Global Currency Exchange Network have a team of experienced currency dealers on hand to guide you through the process. In order to do this professionally, they will need some information. Particularly, the date when you need the foreign currency as they may be able to advise holding off buying the currency today. Sometimes, it’s better to buy currency at today’s price, but keep that price for a date at some time in the future.

This is particularly useful if you’re buying a property overseas and it won’t be built for another year, when you will have to make a large final payment. If you waited until the completion day to change your money, the foreign exchange rates may have gone against you, and in effect, the price will have risen by as much as
£10,000 when you make a comparison to the exchange rates from the previous year.
This system is just as useful to businesses. When a company decides to buy goods from abroad, they agree to pay in the currency that is local to the supplier. The rates on that day may give the business a potential gross profit on those goods of a fixed amount. If the exchange rates change in a negative way, between the date of ordering and when the business has to pay for them, the potential gross profit could be wiped out.

Most businesses hedge their bets by ordering the goods and fixing the exchange rate by asking Global Currency Exchange Network to ‘forward buy’ the foreign exchange for them at a fixed price. That way, they have peace of mind and relax, safe in the knowledge that the one thing that can’t change now is the exchange rate.

Global Currency Exchange Network are a commercial currency brokerage, based in the UK. We care for other people’s money and save clients vast amounts of money daily by offering competitive exchange rates, with no commission attached. In some cases, transfers abroad are free.
For a fast, safe, service go to our site and first open a free account. We will then contact you to discuss how we can help. Alternatively, call +44 (0) 1480 406080.

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Tags: Currency exchange for businesses, foreign exchange rates

Getting the best currency exchange rate is easy when you know how.

Here are our top ten tips…..
1. Talk to a specialist currency broker as soon as you know you are going to need to purchase currency. That way you will have time to secure the best exchange rate.

2. Find a Company who where you can choose who you deal with. If you get on, the dealer will always be there for you.

3. If a Currency exchange company charges a commission up front, be wary. Try another broker.

4. Set a realistic target for your exchange rate. Your Currency Dealer should explain the general exchange rate trends to you, so you can choose when to trade.

5. Search the internet for the best rates. Be careful though, most sites quote the “Interbank” rate. None of us can buy at that rate.

6. Buy a “Forward Contract”, if you need the money in the furure and you can get a good rate fixed now. It saves a great deal of worry later.

7. Try to avoid buying currency at the lowest rate of the day. The difference can be significant and your Currency Dealer should help you with this.

8. Don’t be greedy, if your target exchange rate is available take it otherwise you could lose out. Don’t forget, the prices can fluctuate during the day.

9. Always get confirmation from your Currency Dealer that your monies have been sent.

10. Finally, using your bank could cost you a significant amount more and they cannot offer specialist guidance.
More information on currency exchange….

Tags: currency conversion, Currency Exchange Rates

Business customers- retain more profit from your overeas trade by using a currency exchange broker for your foreign exchange deals.Whether your company has been trading overseas for some time, or you are just considering the potential of trading overseas, you need to talk to a currency exchange expert.

There are many reasons why a business should trade overseas; maybe to import goods from India or China, to be able to retail in your home Country, maybe you may want to export goods but require payment in your home currency, but you can’t close the deal unless the exchange rate is favourable.
Whatever the reason, making the decision to trade overseas can involve risks and you should seek the advice of a currency exchange expert to find out how to make currency differences work to your advantage.

There are ways to manage the risk and when exposing your business to foreign currency rates, the fluctuations in local currency can have an impact on your profit margins. If changes in currency levels mean that its costing you more money to sell your goods abroad than you’re generating in profit, you may need to reconsider your strategy.

The best way to manage your exposure to the currency exchange rates, is to fix your rate of exchange for a reasonable period. This helps you to manage the risk and plan ahead:

· Get a fixed rate and period that suits your business model
· Look for competitive currency exchange rates - banks are often too high
· Go for currency exchange brokers that don’t charge additional commission
· Find somewhere that allocates a dedicated account manager to your business
· Manage your paperwork by appointing a broker on your behalf

Deal with Currency exchange brokers who a proven track record and have the experience to manage your regula business payments. The idea is to find a broker who works in unison with your business, so that you maximise your profits and they manage your currency exchange rate risks.
Managing your foreign currency payments and income is a full-time job, especially if you rely on overseas markets for a significant percentage of your turnover and profits. Rather than spending money recruiting someone to handle this for you, you should talk to a dedicated currency exchange business like Global Currency Exchange Network. We have the knowledge, expertise and buying power to get excellent exchange rates and fix them for up to 24 months - allowing you to plan a secure financial future for your business.

In addition, your dedicated broker will give you all the market information you need, provide help with payments in and out of your account, and won’t charge any additional commission.

To find out more about how we can help you, call David Osborne, Business Manager at Global Currency Exchange Network, on 0044 (0)1480 406080.

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Tags: business currency exchange, Currency Exchange Rates, money transfer, Regular monthly payments