If you run a charity, or you’re the Finance Director of a larger charity, why not have a charity branded prepaid currency debit card?

Market your own Charity branded cards to your contributors.

Earn extra income for your charity, while your contributors make savings when buying Pounds, Euros or US Dollars.

Examples of how your Charity cards could look.

How can these branded debit cards help your charity?

• No Cost to your charity, maximum benefit.
• Cards available in Pounds Sterling, Euros and US Dollars.
• Earn substantially through a financial contribution from every currency exchange transaction.
• Increase brand awareness.
• Allow your clients to donate to your charity, with every currency exchange, while making a considerable saving for themselves when compared to high street foreign exchange rates.

About the cards.

FX-Foreignexchange are suppliers of prepaid currency debit cards for a variety of high profile brands including well known sports clubs.

Each of these entities, are provided with FSA compliant marketing material to promote to their members / clients, requiring minimal input from your charity.

Every time a client loads the card with one currency, and exchanges for another, the promoter receives a financial benefit from each transaction.

These cards are:

• CHIP & Pin secure
• Can be used anywhere, where the MasterCard Acceptance Mark is displayed.
• Available in Euros, US Dollars or Pound Sterling
• Available with a fully automated application process with a link, or web page, supplied for your web site, carrying your affiliate code.

Marketing assistance

We supply you with Financial Services Authority compliant material including:

1. Content for a web page, within your own web site, that explains the benefits of the cards to your customers, with a link to apply for a card, carrying your affiliate code. This ensures that you receive benefit from every client sent from your own web site.
2. Printed literature for mailing campaigns.
3. FSA compliant emails, for direct mailing to your client database.

Full Due Diligence package available on application.

Request a charity card account manager to contact you here.

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Global Currency Exchange Network are a registered Money Services Business.

For a business to safely make currency transfers for clients, they need to be registered as a Money Services Business with the UK Revenue & Customs.

HMRC explain that: “Businesses that exchange currency, transmit money or cash cheques for their customers are known as ‘Money Service Businesses’. Money Laundering Regulations require most Money Service Businesses to register with HM Revenue & Customs (HMRC).”

What is a Money Service Business?

The term Money Service Business has a special meaning under the Money Laundering Regulations 2007, which came into force on 15 December 2007. Under the regulations, a business is a Money Service Business if it does one or more of the following:

• acts as a bureau de change – even if this is on a ship that isn’t always in UK territorial waters
• transmits money, or any representation of money, in any way (just collecting and delivering money as a ‘cash courier’ isn’t transmitting money)
• cashes cheques that are payable to customers

HMRC also state: “HMRC is the supervisory body for most Money Service Businesses under the Money Laundering Regulations. If you run a Money Service Business it’s your responsibility to register with HMRC unless you’re already supervised by the Financial Services Authority (FSA) for the purposes of the Money Laundering Regulations. You mustn’t act as a Money Service Business until you’re either registered with HMRC or supervised by the FSA.”

Reassuringly, Global Currency exchange network are registered with the FSA and HMRC.

Our Currency Exchange service provider, gcen, is Regulated by the Financial Services Authority ( FSA ) under number 504346

Read more on Security and Regulations here

Foreign currency exchanges from £20,000 upwards (or currency equivalent).

We welcome all fx clients with a need to make a currency exchange. We can offer commercial currency exchange rates for amounts from £20,000 to many £millions.

For smaller amounts, please visit our home page.

If you have a large amount of currency to exchange, we will offer you our commercial currency exchange rates. We buy our currencies from our Treasury provider, Barclays Bank. We then sell that currency at considerably better exchange rates than High Street banks.

We have a simple online registration facility. Once registered, you can buy your currency online, or contact one of our dealers. You will normally have been allocated your personal dealer when you get registered.

For business clients, we allocate you a personal dealer, who will regularly track your chosen currency pairs and will inform you when the rates are especially favourable, or when your limit order has been reached.

By using our simple foreign exchange service, you will save a great deal of money.

• MOST IMPORTANT. Not all exchange rates offered by banks and currency brokers are the same. Typically, our exchange rates are much more competitive than those offered by the high street banks. You can easily save £225 just on the exchange rate, when transferring £20,000.
• We don’t charge commission, unlike the banks. You can save £100 here
• We don’t charge to transfer your money abroad, unlike the banks. The normal saving here is about £25.00
• We have special arrangements in some countries where you won’t pay your local bank to receive the money. Most banks abroad charge 1% of the amount that arrives in your account. On a transfer of £20,000, you can save £200.
• Overall, your saving on a £20,000 exchange, could be in the region of £550.

Got a question? Please CONTACT US, or call our UK Head Office on 01480 458400, when dialling from abroad, 0044 1480 458400.

Buying and selling foreign exchange is made very simple when you use us. Discover how it all works here.

Open a free foreign exchange account here

Foreign currency exchanges from £4,000 (or currency equivalent) to £20,000.

We welcome all fx clients with a need to make a currency exchange of more than £250 in value. However, we can offer more competitive currency exchange rates for amounts up to £20,000.

We have a simple online registration facility. Once registered, you can buy your currency online, or contact one of our dealers. You will normally have been allocated your personal dealer when you are registered.

By using our simple foreign exchange service, you will save a great deal of money.

• MOST IMPORTANT. Not all exchange rates offered by banks and currency brokers are the same. Typically, our exchange rates are much more competitive than those offered by the high street banks. You can easily save £225 just on the exchange rate, when transferring £20,000.
• We don’t charge commission, unlike the banks. You can save £100 here
• We don’t charge to transfer your money abroad, unlike the banks. The normal saving here is about £25.00
• We have special arrangements in some countries where you won’t pay your local bank to receive the money. Most banks abroad charge 1% of the amount that arrives in your account. On a transfer of £20,000, you can save £200.
• Overall, your saving on a £20,000 exchange, could be in the region of £550.

Got a question? Please CONTACT US, or call our UK Head Office on 01480 458400, when dialling from abroad, 0044 1480 458400.

Buying and selling foreign exchange is made very simple when you use us. Discover how it all works here.

Open a free foreign exchange account here

Foreign currency exchanges from £250 (or currency equivalent) to £4,000.

We welcome all fx clients with a need to make a currency exchange  of more than £250 in value.

We have a simple online registration facility. Once registered, you can buy your currency online, or contact one of our dealers. You will normally have been allocated your personal dealer when you are registered.

By using our simple foreign exchange service, you will save a great deal of money.

• On a £4,000 exchange & International transfer, you can save in the region of £140
• We don’t charge commission, unlike the banks. You can save £25 here
• We don’t charge to transfer your money abroad, unlike the banks. The normal saving here is about £25.00
• We have special arrangements in some countries where you won’t pay your local bank to receive the money. Most banks abroad charge 1% of the amount that arrives in your account. On a transfer of £4,000, you can save £40.
• MOST IMPORTANT. Not all exchange rates offered are the same. Typically, our exchange rates are much more competitive than those offered by the high street banks. You can easily save another £50 just on the exchange rate, when transferring £4,000.

Got a question? Please CONTACT US, or call our UK Head Office on 01480 458400, when dialling from abroad, 0044 1480 458400.

Buying and selling foreign exchange is made very simple when you use us. Discover how it all works here.

Open a free foreign exchange account here

The foreign exchange rate for sterling has reached an eight-week high against the euro.

Yesterday, (August 23rd), the pound was trading against the European currency at €1.22 at 09:30 BST.

Concerns about a fragile economic recovery in the eurozone held the single currency back while positive data has been shown to have a lasting effect on the pound.

Last week, the Office for National Statistics revealed figures showing that retail sales volumes in the UK rose nearly three times faster than expected during July.

Comments from the European Central Bank’s (ECB) governing council member Axel Weber had a particularly negative effect on the euro as he suggested that the ECB should extend its loose monetary stance, suggesting that the economy in the eurozone was still in need of assistance.

Call Zoe on 0044 1480 458400 to see how much money you can save with FX-Foreign Exchange.

January 2009 saw sterling at an all time low against the Euro, and falling against the US Dollar. With further UK interest rate cuts expected later in the month, it seems unlikely that the Pound will return to the previous heady levels of €1.49 to £1.00 this year.

So how can you maximise your Pounds to Euro transactions?

If you are one of those people who have a Euro mortgage or are receiving your UK pension in Euros or Dollars. There is a way of helping the poor Sterling to Euro exchange rate and maximising the value of you good old pounds.

Transferring money internationally through a bank is often subject to sending and receiving charges both banks on both sides of the trade. There is often a commission charged for changing Sterling to Euros, and in addition, your bank will often make an attractive profit from the rate of exchange they apply to the trade.

Get around this by using the services of an experienced currency broker. With FX-Foreign Exchange regular monthly transfers are now free from commission and free from bank transfer fees on both the sending and receiving bank. In addition, FX-Foreign Exchange guarantee to beat any Bank exchange rate for an identical transaction.

• Best Rates of Exchange.
• Zero Commission Fees
• Not Telegraphic Transfer Charges

Find out how much you can save Today with this handy online comparison tool.

Today’s global currency conversion exchange rates from this morning. If you would like to be kept informed of any particular currency exchange rate, just fill the form in at the end of this article.

We trade commercial amounts at commercial rates.

We make larger money transfers for businesses and private individuals. Our speciality is commercial transfers for larger sums including regular payroll transfers overseas, payments for international property, supplier payments in foreign currency and currency conversions for hedge funds.

Read the daily market comment here. Currencies rise and fall on many economic triggers, read about today’s economic announcements.

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 – Base currency British Pound

Currency	Code	GBP/1 Unit	Units/1 GBP
Utd. Arab Emir. Dirham	AED	0.1973	5.0749
Australian Dollar	AUD	0.4743	2.1132
Brazilian Real	BRL	0.3149	3.3088
Canadian Dollar	CAD	0.5887	1.7013
Swiss Franc	CHF	0.6281	1.5938
Egyptian Pound	EGP	0.135	7.7336
Euro	EUR	0.9413	1.0635
Indian Rupee	INR	0.01473	68.6205
Japanese Yen	JPY	0.008171	122.557
Polish Zloty	PLN	0.2141	4.7073
Thai Baht	THB	0.02154	49.9133
US Dollar	USD	0.7246	1.3811
East Caribbean Dollar	XCD	0.276	3.7649
South African Rand	ZAR	0.07114	14.1371

NB Rates as of:Monday 26th January 2009

Just call our Head Office on +44 (0) 1480 458 400 if outside the UK,

or 01480 458400 ( in the Uk).

We will quote you the best exchange rate for Euro, usd, gbp, aed and more.

Currency Exchange conversion is all we do, so let us handle your commercial money transfers overseas.

LET US QUOTE YOU…..

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Managing financial risk with hedging, and use of foreign exchange fluctuations to mitigate likely losses when trading abroad.

If you’re in business, then you are involved risk management. An often overlooked area of risk management is the skill of managing your supplier payments when purchasing other currencies.

Most CEO’s, Finance directors, or MD’s simply pick the phone up and call their bank for a spot price on a currency exchange rate and make one comparison. Inevitably, they choose their own bank for one of the following reasons,

• It’s faster
• They quoted a cheaper rate
• They could book the currency conversion over the phone

However, some Finance Directors who use us already have benefited in fiscal savings and time.

ALL of the above can be performed better by a currency conversion specialist, and the Client / Company can make considerable savings.

It’s faster:

Well, it isn’t really. Once cleared funds are in our account, we make the exchange and send the currency straight out, unless we have instructions to the contrary.

They quoted a cheaper rate:

Of course they did! If you just ring for a rate, most banks will quote the “Inter-bank” rate until you ask them to specifically quote you. This leaves you with the impression that you can buy, or sell, at the rate they quote. No-one can buy at that rate. When you call them back to deal at that rate, they will tell you the ACTUAL rate you can deal at which could be significantly different.

Banks will charge for the overseas money transfer. In most cases, we don’t

Banks charge a commission. We don’t.

They could book the currency conversion over the phone:

So do we! Once you have registered online, you will be given a client number and security information. You can call our head office and book your currency over the phone, no paperwork.

How we can help

Our Corporate team will provide suggestions to mitigate your Company’s risk when exposed to fluctuations in currency exchange rates.

Here are some ways that we can help to mitigate your financial risk when trading overseas:

Spot Contracts:

This is simply a contract to buy, or sell, currency at a rate of exchange that is fixed at that moment, and is for delivery in two working days’ time.

More on spot contracts…

Forward Currency Contracts:

A “Forward” allows you to fix the exchange rate and make a currency exchange payment, or receipt, at some given point in the future. This is ideal for importers and exporters as this allows them to fix the price of their goods and know a fixed margin that they can sell their goods at.

More on Forward Currency Contracts.. 

Forward Currency Contracts plus Accruals:

Known as a “Forward plus”. It’s a subtle alternative to a “Forward”. It allows you to drip-feed the currency exchange.

Ideal if you have good cash flow and wish to take advantage of a great rate of exchange. This is perfect for overseas payroll payments.

More on Forward Currency Contracts plus Accruals..

Contact fx-foreignexchange for more information on how we can help. Our advice is free of charge.

Other articles on currency exchange services for businesses.

Types of Contracts in Foreign Exchange

There are many methods of performing currency exchange. Fx-foreignexchange provide currency conversion services for corporations and private clients.

The types of currency contracts mentioned here apply to both business and private clients.

The following are just some of the methods we use to mitigate risk when helping our clients. If you are interested in becoming a client, registration with us is free, and here is no obligation to use our service as we are so confident that you will continue to use us once you have seen the benefits of our expertise.

To find out more about our business currency exchange services

A Spot rate contract.

A Spot Fx Currency Contract is a foreign exchange transaction based on a currency exchange rate at any particular time.

The rate of exchange at that moment is decided by the International market rates.

This is the way that most Company’s buy their currency, but it’s not necessarily the best way. If you believe that the rate is at it’s most beneficial at that very moment, then this is the correct solution, but most businesses seek a more planned strategy to their cash flow.

Forward currency contracts.

A “forward” allows you to protect your business against volatile market swigns n the currency rates that you wish to exchange.

Here are some of the benefits of a “Forward”:

• Fix the currency exchange rate. You can fix the rate of exchange now for either a payment, or receipt, for some date in the future.
• Individual solutions for your business. We can help to devise a currency exchange strategy that will work with your specific needs. Usually, this combines the requirement to retain cash for cash flow against the benefit of buying as much currency forward as possible.
• Certainty. This method provides your business with precise margins. You will not have to wait to see what the exchange rate does at some future point, or lose out by buying too early.
• Flexibility. It is possible to buy your currency using a method known as a “time option” on a standard forward contract. This allows your business to range your settlement dates. This is ideal if you are an importer, for example, and you don’t yet have specific dates of arrival.

Forward Plus Contracts.

A Forward Plus Contract has all of the benefits of a Forward currency contract, but is designed to limit your foreign exchange risk, and to maximise the potential gains in spot rates of exchange.

Example: Your Company has won a contract to supply a company with goods over the next 12 months. These goods can be bought and supplied on a monthly basis.

They will have to be paid for in an alternate currency.

To safeguard your business from currency fluctuations, you have based your profit margin on a particular rate of exchange. Fix that rate with a “Forward Plus Contract” to protect your business from the fluctuations in foreign exchange rates that may erode your profits over the year.

Your profit margin is then protected from currency fluctuations. All you have to worry about now is buying, supply, installation, payroll ……….!

If you are prepared to allow some flexibility then you may wish to consider an “Accrual forward”

Accrual Forward’s offer usually better rates for corporations that prefer to accumulate currency over a given time period. This enables a company to accumulate currency on a drip-feed basis at a rate that is better than the usual Forward Contract rate.

Find out more about fx-foreignexchange.com