Changing money into a different currency used to something that most people only did when going on holiday. If you worked for a big company it might have had international payments to make, but the accounts team would handle the details. It’s not something the average person got involved in on a regular basis.
Now, however, with the dominance of the internet and e-commerce, pretty much any business can have suppliers or clients overseas, and therefore needs to use foreign exchange services much more regularly. Entrepreneurs are just as likely to need to make payments in other currencies as any other SMEs.
The problem is that not every business or self-employed person is set up to make international payments, so you end up having to speak to the foreign exchange counter at the bank or opening an account with a foreign exchange broker over the phone. Either of these methods can be protracted, especially if you have to set up an account with a broker before you begin to place currency trades. You’re also obliged to take the rates that you’re offered – which never seem as close to the mid-price as you’d expect.
However, there’s now another option for individuals and small businesses who like to remain in control of their financial decisions. You can arrange a money transfer from UK from www.hifx.co.uk in a matter of minutes, once you’ve set up an account with HiFX, an online foreign exchange company. And opening an account only takes a few minutes in the first place, thanks to the superior technology that the company website operates with.
It’s easy to exchange foreign currency from hifx.co.uk; all you do is login, put in the amount of currency you wish to trade to another, and you’ll see the rate that you are being offered almost immediately. Once you are happy to make the deal you only need to click to confirm, and then arrange payment via BACS or debit card to HiFX.
Even if you have no payments to make at the moment, it’s worth setting up a HiFX account today as it is free and doesn’t oblige you to place a trade, but when you need to, you’ll be ready.
Guest post by Lorena Benchis: Business expert, freelancer and blogging enthusiast, interested in all to do with Business Startups, Business Security, IT and Finance. I aim to give you all the necessary tips and advice so that you are successful in all your business ventures.