Transferring funds between own GBP and USD accounts
Situation
An adviser was doing a review with their client and asked them if they ever handle different currencies.
The client mentioned that their company has both a GBP and USD bank account as they have American clients. Every month they receive just over $40,000 into their US Dollar account from clients.
When they transferred the funds between their US Dollar account and their Sterling account their bank would apply their own rates of exchange.
The adviser felt that TorFX would be able to help them secure a better exchange rate and help them cut the cost of transfer fees.
Outcome
The client asked to be introduced to TorFX so the adviser referred them through the Partners Portal
TorFX contacted the client to talk through their options and found that over the year the client could save over £5,000.
The client created a business account with TorFX and has been using them to manage their international payments ever since.
If your clients have business payments to manage, get in touch with our team or refer them through your Partners Portal.
Call +44-(0)1736 335740 or email www.torfxpartners.com
To find out more about referring your clients to TorFX, please click HERE
