Foreign Exchange by Frank eXchange
8th March 2018
Dealing in foreign exchange can be confusing, and costly, with hidden charges and constantly differing rates, margins and other fixed rate transactional costs. With fluctuations added in, you are at risk of not being in control of what you will need to pay.
Frank eXchange (www.frank-exchange.com) seek to minimise the confusion, providing a clear transparent service, and putting you back in control of your transactions. Their ethos is to be clear in the costs, and also to ensure you are better off financially from using them.
Frank Exchange will consistently save you money as they agree their margins with you right from the offset and they have zero transaction charges – which means you can trade with confidence and peace of mind that you are getting the best deal every time you trade.
They are cloud based, and easy to use. Registration for the platform takes minutes from you, and the account is operational within 48 hours.
From there, you transfer the amount in sterling to them through the portal, and they exchange the monies to the currency of your choice, and then they make the payment to the supplier you need to pay. You can make block transfers, and have online access to the balances available instantly, keeping you fully in control.
Similarly, receiving payments from customers in foreign currencies is just as easy – you transfer the foreign currency to Frank eXchange, they translate the monies to sterling and forward it on to you.
“I would recommend Frank Exchange without hesitation”
Competitive, consistent foreign exchange rates – and a simple way to take advantage of them
No additional transfer fees or commission
Interbank rate alongside your Forex rate – every time
Agreed margins, consistently less than those offered by banks
Free account set-up
Online for maximum convenience
Experienced brokers for personal advice
FCA Authorised for your confidence and security
Personal or corporate online accounts
Check the rate and pay in 30 seconds
Payments worldwide: 40 currencies, 212 countries
Pay immediately, in stages, or book your exchange rate in advance
Frank eXchange provides Corporate Foreign Exchange and Payment services to businesses and organisations involved in overseas transactions. And we have no transfer or extra charges over and above the agreed fx rate.
- Paying overseas suppliers and expenses
- Making loan payments to an overseas parent company
- Hedging against currency fluctuations
The advantages of using Frank eXchange for your forex payments
Paying and receiving in foreign currency is simple through our online trading and payment platform.
You will know the cost of every transaction in relation to the time-stamped inter-bank fx rate.
Every transaction is through Barclays Bank client accounts and The Currency Cloud is fully FCA authorised, giving you complete peace of mind.
Registration for an account is free. There’s no minimum transaction or long-term contracts, you simply use the service as you require.
Transferring money overseas from one currency to another often incurs high and hidden charges from your bank. Using Frank Exchange to convert your currency whether you are exchanging pounds to euros or dollars to rupees is quick, convenient and saves you money.
- Property purchases overseas
- Transferring regular pension payments
- Transferring rental income or capital to another currency
- Receiving rental income paid in euros
Frank Exchange makes the process of transferring your money painless and help you keep more of it. They can also arrange to secure your exchange rate so that you know exactly what you will need to pay – up to 12 months in advance – with a Forward Contract.
Regulated and Secure
Their secure online trading and payment platform is simple to use and all funds are handled through Barclays Bank client accounts, giving you complete peace of mind. The Currency Cloud is authorised by the Financial Conduct Authority (FCA).
Steve started up his freight forwarding business two years ago and had used his bank since then for all his company’s banking needs.
When making foreign payments he had to go into his branch with the completed paper work and sign these in front of the cashier who would then provide the exchange rate.
Upon review Frank eXchange found the margin to be in excess of 2% and there was also a transaction fee of up to £30.
Frank eXchange has provided him with an online solution, consistent competitive margins and rates, plus the option to trade at spot or forward.
Steve says “it’s more convenient, better use of my time and the rates given are a lot better than those from my bank”
So if you deal in foreign exchange, why not give Simas Accounting & Tax a call to discuss your needs, and we can provide you with a free demonstration and review to see how much Frank eXchange can save you.