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Working with industry leading organisations, experts, governments and universities, BCR Publications delivers expertise in factoring, receivables and supply chain finance to a global audience.
BCR has long been a beacon of innovation and excellence in the realm of receivables finance, playing an instrumental role in shaping the industry’s international landscape. Through its comprehensive conferences, insightful publications, and thought leadership, BCR has facilitated crucial dialogues and connections among industry professionals, driving forward the development of receivables finance globally.
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How to Get Started with International Money Transfer
| 16-1-2020 | treasuryXL | XE |
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.
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:
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:
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 Burdon
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.
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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.
Visit XE.com
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Back to the old days: Currency jargon in forex trading
14-01-2020 | Marco Lassche |
Nowadays the youth use apparently ‘stacks’ as a nickname for money. In forex we use already for a long time nicknames…
Recently I heard my son talking to one of his friends on the play station: “Hey bro, we need more stacks to go to the next level.”
“Hey Mate, I need a Cable (GBP/USD) in two”. Later on I understood, this meant I want a price quote for a GBP/USD in 2 million GBP at which you can buy/sell GBP against the USD.
Now you know that stacks is money, and a cable is GBP/USD, it is time for some more nicknames in currency (pairs), and some background explanation:
Please feel free to contact me if you need any further information or assistance in setting up a more professional framework for controlling your financial risks and cash management in a more efficient way.
Marco Lassche
Founder and Owner of at Bedrijfskostenexpert
Treasurer and Project Manager at Van Caem Klerks Group
treasuryXL Ambassador
Why corporate treasury is the recruitment niche for me
| 13-1-2020 | by Pieter de Kiewit |
My father was an engineer, he built roads and bridges around the world. One of his three kids following in his footsteps was a silent wish we knew about. Regretfully for him we all went in other directions, my sister and me at least landed engineering degrees. One of my first business management professors did teach me about building bridges but between functional areas. That is what I have been doing as a recruiter for the last 25 years and having a blast. 10 years ago I decided to only recruit in corporate treasury. Let me tell you why.
In a very simple way I always describe corporate treasury to laymen mentioning three tasks:
With this description I do not have to be afraid for sudden new competition, do I? But do know that during the crisis treasurers found solutions for the survival of their employers. They found funding to pay salaries, helped sales with creative financing solutions, making complex transactions reality. They helped companies not going bankrupt due to currency exposures and forced banks to offer better solutions at an acceptable rate.
Treasurers manage large sums and report directly to the CFO. They are involved in mergers & acquisitions, reorganisations and international expansion. They act in small numbers but have a huge impact. Corporate treasury changes continuously and creates new treasury bridges to better connect with traditional job types like accounting, tax and sales. Corporate treasury is currently automated quicker than many similar functional areas. The academic world is showing increasing interest. In the Netherlands the post graduate education at the Vrije Universiteit is becoming more prominent in the treasury community. Corporate treasurer is an exciting position, the secret is out!
What I am passionate about is helping CFOs, HR, internal recruitment and group treasurers with their staffing questions. Treasury teams are almost always small, building treasury recruitment expertise is not worthwile for corporate managers. That is why my colleagues and I can add value. An HR manager knows about assessments, we know about treasurer assessments. A CFO knows about equity deals, we know about treasurers having funding expertise in his specific industry. A group treasurer knows about treasury tasks, we know how these tasks are executed in other companies so he can compare. That is why we can deliver and have impact. That makes me enjoy my job so much.
This is why recruitment in corporate treasury is my niche and there is still builder of bridges in the family.
Pieter de Kiewit
Owner Treasurer Search
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