Manage International Payments with FXcompared
IAM has partnered with FXcompared to help you and your clients process international payments. By working with FXcompared, you can save money when sending or receiving payments in a foreign currency. FXcompared provides a gateway to the leading payments providers from around the world. The search tool below can even help get you started.
FXcompared also offers a full white label solution, allowing you to enhance your offerings to your international relocation clients by providing them with a valuable service, as well as an additional revenue stream for you.
Contact Daniel Webber in the New York Office:
Tel: +1 (212) 600-8553.
Contact Satminder Ramewal in the London Office:
Tel: +44 (0) 207 871-5565.
Or email us at email@example.com.
We love finding unique business models in the international payments space, so we spoke in depth with BillMo, a company focusing entirely on the recipient, not the sender of money transfers. More on that later though - first we're looking at currency volatility.
Uncertainty ≠ Volatility?
We've heard from a number of you that trading has been slower recently and wanted to dig into this. In common wisdom, market uncertainty leads to volatility which drives lots of FX transactions. Recently though, we’ve seen market uncertainty potentially reducing market volatility.
In the first chart below we look at the volatility of the Pound (along with the Mexican Peso, Japanese Yen, and Euro) against the dollar during the past 12 months. As expected, the biggest political events for both the Pound (Brexit) and Peso (Trump election) result in massive volatility spikes. These spikes led to large FX transactional increases.
Here's a chart showing each currencies volatility over that time period:
But now we're going to zoom in on the past two months below. After a brief spike following Theresa May's brexit address, we can see the volatility of the pound has fallen dramatically. Recently, it's even fallen below USD:EUR volatility. This has left us with a still highly uncertain but not particularly volatile market.
While the Euro has remained quiet and stable against the dollar, upcoming political events across the Single Market may well shake that up.
Read more on FXcompared's Intelligence Research page.
FXcompared is the leading, independent global resource on international money transfers. FXcompared offers a choice of carefully selected, cost aware and efficient ways to transfer money abroad.
As a financial decision maker who regularly sends and/or receive international payments, you already understand the importance of a proactive currency strategy for companies that do international business. No matter how well planned, all currency strategies need to be revisited and reassessed on occasion. Fortunately, FXcompared can provide assistance not only in analyzing currency strategies, but in ensuring that financial decision makers get the fairest international transfer rates possible with a provider that best suits their needs.
Enhance Your Offerings to Your Clients
Stay competitive in the space of international moving by offering your clients our white label comparison tool. Our service will help your clients save money on their international payments and can also help them learn more about mitigating currency risk in the future. To learn more, visit the FXcompared website.
Learn More—Frequently Asked Questions
How much can I typically save?
Those working with a currency provider vetted by FXcompared typically save close to 90% on fees and exchange rates compared to automatically transferring through a bank.
How do I use FXcompared?
Select an amount and a destination, choose a provider from the search results and create an account on their website.
What currencies can I compare?
There’s a full range of currencies, covering 126 countries.
How does FXcompared assess each money transfer provider that it lists?
Providers are carefully vetted. After ensuring that providers are approved by governing entities, we assess their business practices. This includes the amount of currencies offered, speed of transfer and availability of other currency products to clients. After all of these things are taken into account, FXcompared then decides whether or not to include the transfer company on our list of providers.
Can I transfer money online, or do I need a phone?
All the brokers listed have an online service with 24-hour access, where you can track your transfer and view all of your transactions. Some also offer a phone service.
Are these providers properly regulated?
Yes, all the providers listed are regulated by the relevant financial bodies in the countries or other regions where they operate.
Can the international payments provider offer other services?
Yes. Some can help with property purchases or with other specialty business services.
Can I offer this service to my clients?
Absolutely. We can help you set up a white-label service that can be tailored for you and your clients. Get in touch with us to find out more (firstname.lastname@example.org)
Why might it cost less to transfer money via a currency provider than through a bank?
The exchange rate between currencies changes all the time. To combat unexpected movement of different currency pairs, some banks set a higher exchange rate that is fixed for the day. Because currency providers typically move with the market and change their offered exchange rates throughout the day, they usually offer better exchange rates to their customers than banks. Additionally, currency providers can offer better exchange rates and lower fees to their customers simply because they have lower cost bases than banks.