How much could you save on foreign exchange during the year?

Wednesday, 22 December 2010 16:36

And then there is the question of paying the bill for a conference at a hotel. You transfer a deposit through your bank and then you get an invoice for the residue and that, too, is paid through the bank or with a credit card. And you find out eventually what rate of exchange you got and what commission and fees the bank charged for handling the transaction.
According to James Hickman, all these practices are wasting substantial amounts of your company money and could be putting profits at risk. He is prejudiced, of course, because he is not from a bank but is the Commercial Director of Caxton FX. But he is knowledgeable in an area of MICE finance that is seriously neglected by the large majority of event organisers. His advice has to be worth some attention. It could result in valuable savings.
‘If companies were to investigate’, he suggests, ‘the poor rates of exchange they get and the commissions and fees they pay at every turn, they would be surprised. Probably shocked.’
Caxton FX claims that, being highly specialised in this niche business, it can better the exchange rates offered by banks, it can transfer payments in currency speedily and securely and it charges no fees.
‘We offer a family of services in foreign exchange transactions’, James goes on, ‘so it is best for clients to discuss their needs in order to set up a system between us and then payments can be triggered on their behalf at short notice’.
Caxton FX is regulated by the FSA (Financial Services Authority) to transmit and hold funds for its clients.


Caxton FX Currency Cards

In a further interview with James Hickman to be published later, the possible advantages of using Caxton FX Currency Cards will be described.

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