A faster, friendlier foreign exchange alternative

BANKS are not the only option for foreign exchange and international remittance, but most consumers don’t know this.

The high street banks know most consumers don’t know this, which causes a strange phenomenon: banks hold a faÃ§ade monopoly position in the foreign exchange and remittance markets, whereby they continue to offer sub-standard service at exorbitant prices to an unknowing public.

It is estimated that £300 million per year is lost to these monopolies. The anomaly occurs because most consumers aren’t aware there are better options. These consumers shoulder the burdens of the perceived monopoly that banks hold: high fees, hidden costs, poor rates of exchange, lack of transparency on exchange rates, poor service, and slow turnaround times. In fact, dealing with banks is a travesty of 21st century customer service.

Enter the independent foreign exchange and remittance providers. These small to medium sized companies specialise in beating the banks on value for money and solid customer service with a smile. They also simplify the money transfer process into something the layman can understand and execute easily. These companies offer services at a fraction of the fees (if any), with zero hidden costs, very competitive and guaranteed rates of exchange, complete transparency, excellent and friendly service, and fast, secure online systems that ensure cleared funds in any globally nominated account as quickly as one working day.

Ironically, consumers have direct and easy access to these services. Most independent companies run online, and offer their full service as an online package. Therefore if a person has access to the web via a PC or mobile phone it’s easy to capitalise on the benefits these providers create, from anywhere on the globe. Welcome to the 21st century.

Two such companies are 1st Contact and the Sable Group. Both offer a range of accounting, wealth, legal, visas, tax and payroll services, along with much-honed expertise on foreign exchange and international remittance services.

It’s a no-brainer.