There are some situations where cash just won’t cut it. This is where we enter the wonderful world of money transfer. What is money transfer? It’s simple: it’s any form of payment that doesn’t involve cash.
Money transfer comes in two forms: payment and transfer. When you use you debit card at a store or your boss gives you your paycheck through direct deposit, you’re experiencing small-scale money transfer. When you’re sending money to another account or person, whether it’s across town or across the world, you’re also making a transfer.
When would you need an international money transfer? If you’re:
Purchasing property overseas
Sending tuition or spending money to a student studying abroad
Making an international move
Preparing for an exotic trip
…then money transfer is the way to go. Your money is in good company: experts estimate more than $2.5 quadrillion moves around the world each year.
Don’t let the technical details overwhelm you. Online money transfer is a quick, simple, and secure process for any of your currency exchange needs.
Is one money transfer method better than the others?
If you’ve been looking into making a transfer, there’s no doubt you’ve run across several different methods for your transfer. In addition to money transfer, you’ve probably also heard about:
Wire transfer
Money order
Balance exchange
Bank transfer
These options may seem more or less interchangeable—after all, at the end of the day, your money is moving where it needs to go, so does it really matter how it gets there?
Yes, it absolutely does. Choosing a money transfer over some of these other methods can influence:
The speed of your transfer
Your currency exchange rate
Whether or not you incur any additional fees during your transfer
The ease of the process
The amount you can transfer
Where you can transfer
The currencies you can exchange.
When you make a money transfer through Xe, you can trust that your money will reach its destination quickly, securely, and with no tacked-on fees.
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
Coronavirus took the headlines again with the World Health Organisation warning that the world should prepare for a pandemic. The WHO stated it was too early to call the outbreak a pandemic but countries should be “in a phase of preparedness”. As with before, the Dollar and Swiss Franc are benefiting from their safe-haven status, with CHF hitting a 4-year high against the EUR. Both strengthened against most major currencies, as risk-averse investors fear that if the virus becomes a pandemic it will have a significant negative impact on global growth.
GBP/USD fluctuated around 1.29 for the day, despite US Equities collapsing yesterday, as investors adopt a risk off approach. Long-term bond rates fell sharply as worries about a recession increased. The 10-year treasury note is not far from its 2016 record low of 1.32%. In turn, Gold has continued to climb higher, hitting fresh multi-year highs and edging ever closer to the $1,700 mark. Despite the fear amongst wall street, the US Dollar has shrugged off the negativity as it moved higher thanks to its safe-haven status.
EUR/USD moved towards 52-week lows yesterday, falling to 1.0804 yesterday. Coronavirus related events in Italy had affected the EUR, with around 50,000 people under lockdown and the death toll rising to four. The pair however recovered towards the end of the day, hitting one-week highs of 1.0850 as the S&P 500 closed in on the low of 2020.
GBP/EUR appears to be relatively stable as investors assess the impact of coronavirus to be potentially greater within Europe than it is in the UK. Also, news that the UK budget – which is due to be announced on March 11th – could be bigger than expected should help the Pound remain relatively well supported against the Euro and other major currencies. In the meantime, the market keeps one eye on the build up to the UK-EU trade talks, due to commence next week. Some potentially positive news for the Pound yesterday was reports that the EU’s latest draft mandate indicates the EU will not be pushing for ‘dynamic alignment’. Dynamic alignment is essentially a requirement for the UK to adhere to a certain set of laws and standards, set by the EU, in order to have a free-trade agreement. Today, the EU leaders will be holding a general affairs council, with the Brexit Strategy on the agenda. This could provide greater detail around the EU’s position ahead of next weeks’ talks, any demands that may emerge from the agenda could have implications for the Pound.
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
https://treasuryxl.com/wp-content/uploads/2020/02/xe272.png448655treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-02-27 12:43:122020-02-27 12:43:12Coronavirus Concerns See Equity Markets Suffer As Investors Head for Safe Havens
Widespread weakness continues to weigh on a huge number of countries with an array of recession forecasts in the wake of global weakness due to pandemic, trade wars and trade deleveraging.
Hong Kong having slipped into recession last year seems as if this is likely to be repeated in the wake of the Coronavirus and months of political unrest. Hong Kong GDP already contracted at an alarming 3.2% in the middle of 2019 and key signals from economic data are already pointing at a continued slow-down of their fiscal situation. Japan is widely believed to enter a recessive environment as well suffering a huge typhoon and then a big tax increase and straight away afterwards the virus also affected their growth. There is a chance the UK could slip into recession following a protracted Brexit process and, if trade deals are not as positive as expected, the additional costs will threaten growth during the course of the year. Germany produced a string of contracting economic figures during the end of 2019 as it wore a sustained decline in manufacturing sector and auto sales. Italy was in a technical recession for half of 2018 and has not really recovered where they have seen weak productivity, big debt figures and unemployment and these do not appear to be being restored quickly. China continued to slow during the trade war and this led to a forecast of GDP growth of 5.8% which sounds very high, but when compared to the figures of 6.6% and 6.1% in the last two years respectively it is certainly a big reduction. Add to these, significant stresses in the economies of Turkey, Argentina, Iran, Mexico and Brazil and the picture for global growth could be gloomy.
In the UK, the situation is finely balanced and after the prolonged Brexit situation our attention returns to stalwart economic data production. We saw prints in jobs and earnings data and there are small positive signs there as earnings rose slightly. We are waiting for inflation data which will be a potent conversation in context of the UK’s buoyancy. Expectations are a significant rise in Retail Price Index figures year on year but a reduction month on month. Consumer Price Index figures are pointing at a slight increase year on year but a big reduction month on month. Lastly, Producer Price Index looks set to largely balance out so that is good news for the near future if forecasts proves to be accurate.
Looking over the pond at the US inflation and housing data, there appears a mixed bag of results expected. Housing starts seem to have an expectation of a big contraction but there looks as if the Producer Price Index data will be a move higher, which will push an increase in costs to consumers over time and increase inflation more generally but this has a likelihood to manifest in the requirement of tools to mute this price pressure, namely interest rate hikes. This would need to be a sustained factor for this conversation to play out in this way within the Federal Reserve.
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
https://treasuryxl.com/wp-content/uploads/2020/02/world-globe.jpg639956treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-02-20 11:38:532020-02-20 11:38:53Huge number of countries with an array of recession forecasts
Our partner Treasurer Search is looking for a Treasury & Trade Finance Business Partner for a multi-billion $ global market leader in various complex technological project industries.
The Treasury & Trade Finance Business Partner will claim her role in the teams that land complex technological & infrastructure deals in the global market. She will understand the project and help shape the underlying deal from financial risk perspective. In this she will take FX, payments terms, counter party risk and other parameters in consideration. With her toolkit filled with instruments like bank guarantees, letters of credit, commercial contract clauses and derivatives she will structure the best possible solution.
Next to project related tasks, the Business Partner is responsible for regular cash management and other corporate treasury tasks in cooperation with the headquarters that is based abroad.
Ideal Treasury & Trade Finance Business Partner
The ideal candidate for this position has the proper balance between relevant knowledge and externally oriented business behaviour. Skills for this position can be acquired in a banking environment as well as within an international technology corporate. As a person she is a strong communicator, analytical and willing to be a one-person-department. Most likely the ideal candidate has an academic degree in economics, legal, business science or other relevant areas.
Our Client
Our client is a multi billion global market leader in various complex technological project industries. The company has various divisions in different parts of the world. Engineers are the backbone of the company and their goal oriented, direct way of working is very telling about the company culture.
Remuneration and Process
The expected annual base salary for this position is €75K. Our client offers freedom and support to shape the position in the best possible way. For candidates that qualify, a more comprehensive job desription is available. The Treasurer Test might be part of the recruitment process.
https://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.png00treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-02-19 07:00:372023-06-27 10:29:06Looking for a Treasury & Trade Finance Business Partner
Markets have once again turned risk averse overnight, with the Chinese city of Hubei the latest outbreak focus. With a European tech conference cancelled, as well as fears in South Korea and Japan. The medium and long-term impacts are still non quantified. Currency markets do not like uncertainty.
And so, the now go-to bellwether currency is the USD, which moved above the psychological level of 99.00 which has been touted for some days. As a consequence most currency pairs have moved lower against the Greenback. One of the more notable casualties is the most liquid pair – EURUSD. Generally regarded as a low volatility play, it’s has now moved down over 13.5 % in the last two years, and tests key support.
GBPEUR has gained momentarily as a result, and indeed UK importers can be buoyed by a much healthier session for GBP across the board. Risk bearing currencies like AUD, NZD and CAD have all suffered as a by-product, and will be dictated to by Geopolitical fears related to the Coronavirus outbreak.
Yesterday did not help the EUR on the data from with Industrial production numbers much lower than expected at -2.1%, a huge shift. And this fragility for the single currency will today be magnified by German CPI inflation releases. For the EURUSD traded pair, the release of US CPI inflation numbers later in the session could have a similar push/pull impact.
Back to the UK and today we see PM Boris Johnson reshuffle his cabinet, and whilst not significantly market moving; the emphasis will be closely eyed for negotiations with Brussels.
One final thing to note is the release this morning of the RICS house price balance numbers here in the UK. This number has shown a positive swing, the post UK. election decision clearly has people moving on up. Long may it continue.
Get in touch with XE.com
About XE.com
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
https://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.png00treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-02-13 10:14:552020-02-13 10:14:55Inflation Data for EURUSD
Market volatility puts your business’ profitability and cashflow at risk to adverse movements in the currency you are exposed to.
Many businesses, particularly at the smaller end, are not aware they have an exposure to foreign exchange risk. Or, if they are, they may have never quantified the size of the risk they face.
Currency market exposure comes in different forms. Any business selling goods and services overseas will be concerned that a rise in the value of the US Dollar could damage their competitiveness in those markets. Conversely, if you’re importing anything from overseas, a fall in the value of your local currency will make those imports more expensive.
FX markets are difficult to forecast at any time, but even more so when you look beyond 6 months. While economists and market commentators can predict all they want, the reality is they never get it consistently right which makes relying on forecasts a risky strategy for your business.
How your business can mitigate against currency risk
Your best bet in combating the uncertainty that comes with fluctuating exchange rates is to have a long-term FX strategy in place.
An FX strategy involves paying attention to and managing risk, and ensuring your business has the right mix of products and services in place to help reduce your exposure to market fluctuations.
This is where working with a trusted international payments provider, like XE, comes into play. The right provider will be able to work with you to develop a strategy and will advise on the most suitable products and services to deliver favorable outcomes to your business’ profitability.
Ready to learn more?
A team of Foreign Exchange Specialists at XE have compiled an essential FX guide for US businesses – stepping you through the three key factors to understand about foreign exchange and how it affects your business, so you can make an informed choice when selecting the right partner to help you manage your international payments and mitigate against FX risk.
Get in touch with XE.com
About XE.com
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
https://treasuryxl.com/wp-content/uploads/2020/02/xe1feb.jpg422680treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-02-06 14:58:542020-02-06 14:58:54Why your Business Needs a Long-Term Strategy to Mitigate Against Currency Risk
Following a debate in Brussels yesterday evening, The European Parliament backed the Brexit Withdrawal Agreement put forward by Boris Johnson. This was approved with by staggering 621 votes in favour, with 49 against. A major milestone in the Brexit agreement which was somewhat already expected, following news last week that it cleared the committee stage. This bodes well for the UK to leave 11pm Friday evening. Following this result, the debate did become slightly emotional with Farage taking his chance to rub it in the face of the European politicians, triggering Parliament’s Vice-President Mairead McGuiness to turn off his microphone stating ‘put your (Union Jack) flags away, you are leaving.’ Not everyone was so cold with the likes of Ursula von der Leyen stating that the British MPs ‘wit, stubbornness and charm’ will be missed.
In terms of UK data, Mark Carney will announce whether or not the UK will cut its interest rate. A decision which has left markets unsure on which way it’s going to go, with a 50-50 split between raising and dropping rates. This will be Carney’s final rate decision and will be sure to affect the markets. The Quarterly Inflation Report is also due out and may be the deciding factor on the rate cut which the markets will be looking out for come 12:00 GMT.
US
The FED decided to leave interest rates unchanged at the much expected range of 1.5% – 1.75% leaving a rather muted market reaction. Other US Data out today is Gross Domestic Product figures which comes out at 13:30 today with a consensus at 2.1%, the same at the previous quarter. In other news, the Greenback has continued to benefit as a safe-haven currency with the uncertainty surrounding the Cornovirus.
At the time of writing:
GBPUSD – Trading above 1.29 at 1.2994
GBPEUR- Trading above 1.1 at 1.1792
EURUSD- Trading above 1.10 at 1.1018
The figures are based on the live mid-market rate, correct as of 08:30 GMT on 30/01/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
Although based on XE’s previous article, the Sterling has been pressured since the beginning of the year resulting in the GBPUSD drop from the highs of 1.35 post-election to the levels of 1.2975, it seems the GBPUSD is recovering following the release of stronger-than-expected UK jobs reports.
Sterling gained yesterday following the release of stronger-than-expected UK jobs report, GBPUSD moved from 1.2980 up to 1.3050. According to the Office for National Statistics (ONS), the UK Average Weekly Earnings (Including Bonus) recorded a growth of 3.2% during the three months to November as compared to consensus estimates pointing to a modest downtick to 3.1%. The gauge excluding bonuses came in at 3.4% as against 3.5% previous but was in line with market expectations.
Other details showed that the number of people claiming unemployment-related benefits fell to 14.9K in December. The strong data slightly dented expectations of an interest rate cut by the Bank of England at its upcoming meeting on January 30 and provided a modest lift to the British pound. However, the markets are still pricing in about a 60% chance of a 25 bps rate cut. Moving forward the markets will continue to look towards the Bank of England rate decision at the end of the month for guidance on Sterling. Should we see rates on hold we could see Sterling strengthen considerably in the aftermath.
EURUSD has remained fairly flat and continues to trade just below the 1.11 level. It is a data light day from Europe and the US markets await employment data tomorrow for any significant moves.
GBPUSD – 1.3046
GBPEUR – 1.1776
EURUSD – 1.1077
The figures are based on the live mid-market rate, correct as of 08:30 GMT on 22/01/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
https://treasuryxl.com/wp-content/uploads/2020/01/vlad-hilitanu-UIigFW4P7L8-unsplash-scaled.jpg17062560treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-01-23 07:00:462023-06-07 10:38:57Positive UK data pushes the pound higher
Our partner Treasurer Search is looking for a Corporate Treasury Specialist:
The specialist will start with a focus on operational tasks like cash management, reporting & analysis whilst managing the group guarantee portfolio and act as EMEA coordinator on trade finance. Gradually she can move forward into projects and other front office tasks. Being able to back up other treasury team members is an embedded expectation. The last decade has shown there are always more than enough challenging corporate treasury projects and successful team members can move forward in responsibilities.
Ideal Corporate Treasury Specialist
The ideal candidate has a relevant degree and one or two career steps in corporate treasury. Her current position could have the job title treasury analyst, cash manager or treasury accountant. She might have experience working in a bank or consultancy, a corporate is more likely. All team members show a constant interest in financial market developments and expect their new colleague to share this. As a person she brings the right balance between being proactive and ambitious on one hand, and being patient and modest on the other hand (teamplayer). Sense of timing and communicating well is key in this, as is non-opportunistic behaviour and thorough thinking. Speaking Dutch would be an asset, not a must.
Our Client
Our client is a multi-billion $ manufacturing company with a global presence and both USA as well as Asian influences. The European treasury team is part of a small and stable group holding organisation with several international “rest of world” responsibilities. The team covers a broad spectrum of corporate treasury tasks in corporate finance, cash and risk management. Given a recent major acquisition, the team is co-tasked to integrate the new business on its platforms & protocols during the 2020 -2021 period. Communication with colleagues and external parties from around the world is part of the daily routine. Although the team already performs at a very high level, the world changes constantly and ambitions are high. Further projects are scheduled. Our client works with SAP, including the TR module.
Remuneration and Process
Depending on the track record of the candidate, the base salary will be between €45K and €60K and a bonus plan can be part of the remuneration package. Our client can offer long term career perspectives. The Treasurer Test might be part of the recruitment process.
https://treasuryxl.com/wp-content/uploads/2020/01/treasury-vacancy-Jan-2020-200x200-1.png200200treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-01-22 07:00:452020-01-21 13:48:56Looking for a Corporate Treasury Specialist
Do you ever get fed up with expensive service charges for the “privilege” of using your money? Do hidden international money transfer fees give you cold sweats when you log into your online banking account? Are the service charges imposed by providers like PayPal and Western Union making your heart beat faster?
You’ve worked hard all your life – to pay your bills, to provide for your family, and possibly to leave your home country to start a new life. Why should you pay exorbitant fees to move money in this digital age? There’s no need for armored trucks, planes, or boats to transport cash from you to the intended recipient of your money. Today, secure digital transactions are what gets money from one corner of the world to another.
Transferring money with a money services business (MSB) like XE eliminates the sorts of fees banks charge. You’re also assured a fair trade-able exchange rate on your money, based on the mid-market rate. (Meaning the mid-point between the buy-rate and sell-rate from international money markets.)
If you’ve heard this pitch from foreign currency transfer providers before, don’t worry, we’re just warming up here.
A Strategic Division of a Global Financial Powerhouse
XE, unlike many of the independent money services businesses in the marketplace, is a subsidiary of Euronet Worldwide, a leader in global electronic transactions and payments, and in facilitating payments between financial institutions, retailers, service providers and consumers.
We are entrusted by leading brands such as Google, Apple, Netflix and PayPal for their payments. Our sister companies facilitate payments for streaming media content, gaming, gift cards and pre-paid cellphones.
Our foreign currency market experts ensure our customers get the best value on money transfers to over 170 countries, in sixty currencies. Our consumer clients can transfer up to $500,000 (or your country’s equivalent denomination) from their accounts. There aren’t any monthly service charges or registration fees to erode your savings. Businesses can contract transfers of amounts exceeding $1 million.
The ABCs of International Money Transfer
If you’ve never contracted the services of a money services business before, here’s what you need to bring to the “table” before you even register for an account.
A bank account, and an original electronic copy of a bank statement
Government-issued identification such as a driver’s license, passport, or an age of majority card
An electronic copy of a utility bill, such as electricity bill or from a telecommunications company
An understanding of the approximate value of your foreign currency trading and transaction needs. These can help XE recommend services which maximize your return.
XE is mandated to collect these documents by the financial regulators around the world. They are used for the sole purpose of verifying your identity, and to defend the interests of XE and our clients against criminal activities like money laundering and to prevent the funding of terrorist activities.
There are further details about the terms of our service in the disclaimer below, and our Important information page.
It’s surprisingly easy to register for an account with XE, though if you need any assistance along the way, our knowledgeable customer success teams in our offices around the world are happy to assist you along the way.
Once you have registered for your account, and have transferred money to it from your bank, you can initiate a single transfer, series of transfers, or even mass payments to multiple suppliers or recipients. If you read on to the next section, you’ll learn about how you can take advantage of volatile market conditions to save money on overseas payments.
Services Which Distinguish XE from other MSBs
There are several overseas money transfer businesses in the market, and finding the ideal one for your personal or business needs can be challenging if you don’t know where to look. XE rises above the competition for many reasons in part because of our reputation for being easy to do business with. The proof is in our five-star rating on TrustPilot. Even our competitors regularly cite XE exchange rate data as the most accurate and reliable in the industry.
Some of the unique services which our customers rely on to mitigate costs include:
Forward contracts – which can lock in an exchange rate for up to twelve months, like recurring payments abroad for condominium fees.
Market orders – If you aren’t pressed for time on a specific payment, choose an exchange rate amount you are comfortable with, and we’ll initiate your payment for the moment the exchange rate meets that rate for your currency pair. These orders make the most of your money in turbulent times.
Spot orders for mass payments – Lock in on a rate for multiple payments at once for a batch of payments to multiple suppliers.
Risk management, cash solutions foreign exchange consulting and structured foreign exchange products for unique business requirements.
Time is of the essence in the currency market, much like in the stock market or in commodities trading. The services above provide some protections against unexpected peaks and valleys in the valuation of your local currency, though you should ensure you understand how upward or downward market movements can impact your scheduled payments.
Rate alerts via email are especially helpful to know when to trade when your base currency is at an optimal value relative to the currency you are exchanging for.
Money Transfer on the Go
There’s no denying that smartphones, tablets, and wearable devices are surpassing traditional computers for accessing digital content and getting things done online.
XE’s mobile apps for Android and iOS enable our customers stay up to date on exchange rates and make international payments without breaking stride.
XE is constantly developing innovative new channels and experiences for overseas money transfer. If you are evaluating XE relative to other money services businesses, don’t just take our word for it. Check out the review on money service provider review site Finder.com
Admittedly, XE is not:
The best choice for sending less than $1 (but who does that?)
Ideal for those individuals or companies not willing to provide identification before making a transfer. Yet, that’s contrary to international regulations in any case.
The money services business for those who want to pay on a cash or credit card basis.
The least expensive provider in the marketplace, nor are we the most expensive. You can’t beat us for value for your money though.
Whether you need to transfer rand to pay suppliers in South Africa, make a condo down payment in Dirhams to Dubai, or send krona to your sweetheart in Sweden, XE Money Transfer makes it easy and affordable.
Mark is a content writer, editor, and digital marketing specialist at XE, based in Newmarket, Ontario. Before joining XE, he worked with IBM, Open Text, TELUS and Canada Post.
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE? Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
https://treasuryxl.com/wp-content/uploads/2020/01/Knipsel.png563847treasuryXLhttps://treasuryxl.com/wp-content/uploads/2018/07/treasuryXL-logo-300x56.pngtreasuryXL2020-01-16 11:44:172020-01-16 11:44:17How to Get Started with International Money Transfer
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