Selling overseas
As long-established specialists working exclusively in the currency field, we guarantee to beat the price and service of any retail bank, and our system is designed to make it quick and easy for you to trade. Security is one of our top priorities, and you'll find our stop loss and limit order solutions are particularly effective ways to reduce your exposure to currency fluctuations. Whether you're buying, currency, selling currency or setting up one-off or regular payments we'll make it as easy and straightforward as possible for you - and we'll provide as much assistance, information and explanation as you wish.
Case Study
James Parker
Paracelsus Technology Ltd
- Type of investment:
- Ski chalet in Courcheval
- Solution:
- Flexible transfers
- Age:
- 55
- Marital status:
- Married
- Type of business:
- Medical equipment manufacturers
- Job title:
- Finance Director
- Likes:
- Skiing
Running
Antiques Roadshow
- Music:
- Wagner (especially the Ring cycle)
- Food and drink:
- Beef Wellington
Gin and Tonic
How we helped James to improve profitability
Paracelsus Technology designs and manufactures specialised medical equipment, including a range of diagnostic devices and monitors. Their main marketplace is the European mainland, where the company sells to private and public hospitals and healthcare organisations in several countries.
The best way to process payments had always been a problem for Paracelsus Technology. Payments were normally received in foreign currency, so exchange rate fluctuations could easily erode profits in the period between agreeing a price with the purchaser and receiving payment into the company’s UK bank.
James resolved to tackle the problem, and had discussions with his bank, which were not very helpful. One day while discussing various issues with the letting agent for his ski chalet, he mentioned the currency problem. The agent recommended us, and James got in touch.
After exploring various options with James, we suggested that the solution might be to receive payments from overseas clients, in the local currency, into a bank account in each country that they were dealing with. The funds could then be held on deposit until the exchange rate was favourable, at which point a transfer to the UK could be made.
Although this meant that a number of accounts had to be opened and monitored, it introduced a high level of flexibility, and enabled the best exchange rate to be obtained following each sale. It also created a series of foreign currency reserves that could be drawn upon to pay for overseas sales and purchase trips, and for occasional component purchases.
Sometimes, our help in planning your currency strategy can turn a problem into a profit.
Click to open a business account right now, or to learn more about using Foreign Currency Direct call us on 0800 328 5884 or email us here.
Is this the right solution for me?
Getting you the best start. We want to make sure that you get the best deal you can so that's why we offer all our clients free transfers (over £50,000) and charge no commission. Plus, Foreign Currency Direct does not charge lifting/receiving fees on transfers, which means that you get more of your money to take with you
To find out more about using Foreign Currency Direct call 0800 328 5884 or email us here.
