How do I make an international money transfer with your panel of currency brokers?
Let’s say you’re a UK business looking to pay your American supplier $155,000.
Step 1: You book a deal on the CurrencyTransfer.com platform to buy $155,000 at an exchange rate of $1.5500. This will cost you £100,000.
Step 2: Behind the scenes, your selected foreign exchange broker buys $155,000 from one of its market counterparties to ensure they have funds available to honour your deal.
Step 3: The next step is to pay your winning currency broker the £100,000. You pay this directly to their Segregated Client Account. These are all secure, separate client accounts, held with stable, tier-1 banks (such as Barclays or RBS). This ensures that your money is safe from any business liabilities that the broker could be a ected by.
Step 4: With your payment of £100,000 now safe in the currency broker’s Segregated Client Account, the broker now needs to pay the $155,000 that you booked across to your American supplier (the beneficiary) on the date that you have chosen.
Once the payment has been delivered to the beneficiary the transaction is complete.
On the CurrencyTransfer.com marketplace, you will be making a bank account to bank account transfer to settle your currency purchase.