"I found the Euro pounds service very friendly and easy to use. Using a currency specialist saved me a lot of time, hassle and money."
Victoria Burroughs
"Making sure money reaches my suppliers in the Far East is just as important to our company as getting a good rate. I found your online system provides good rates and allows me to send payment details easily. I am glad I no longer have to call the bank. "
Graham Easter
Q:
How do you buy Euros?
A:
Well quite simply to buy
Euros or any other currency, all you need to do once you
have your account set up is pick up the phone give me a
call ask me for the exchange rate and you can book your
currency over the telephone with myself. You can also
email me or request a call back on the website and I’ll
call you to arrange your exchange rate and book your
exchange rate and everything surrounding your
transaction.
Q:
Who will handle my funds?
A:
Your funds will be
handled by the royal bank of Scotland. So when you send
a payment in sterling or in currency to ourselves your
payment will be sent actually to Royal Bank of Scotland,
in a segregated client account, ok so that’s very
important it's actually separate from the company
account and that’s where your money is held. So it's
almost like your dealing with RBS yourself only your
using us as a means of getting a better exchange rate
than if you went directly to your own bank or even to
the Royal Bank of Scotland should you have an account
with them.
Q:
How do I open an account?
A:
To open an account all you need to do is complete the form on currency today, that’s the application form, shouldn’t take more than a couple of minutes to do that.
You then need to send me by email or by post just one of those two methods by email or by post, a scanned copy of your passport photo page that’s the page with your image, the mug shot if you like on that page and I also may need if you’re not on the electoral roll a copy of a recent utility bill or bank statement, that’s something that you’ve been issued within the last three months, so that’s either a utility bill or bank statement, however I will tell you if I need that and that may well be required, but absolute minimum is just a photocopy of your passport photo page and the application online and I would say that is most commonly needed. So seven or eight out of ten applications that is all I need.
If need to make an enquiry with me, if you want to ask me any questions please feel free to call me on 0207 183 2291 or fill out the enquiry form on www. currencytoday.co .uk
Q:
What exchange rate will you offer me?
A:
the exchange rate we will be able to offer you once you have opened an account with currency today will depend on the amount of currency you are looking to buy, for example if you were looking to buy £10,000 worth of Euros that rate would be very different to the exchange rate offered if you were looking to buy £100,000 worth of Euros and the reason for that is we make our money simply in the exchange rates, so that’s the difference that we buy at from the bank to what we sell at to you at so that’s the difference again between where we buy from with our bank where we sell at to you. That is very much dependent on the amount, so therefore your exchange rate offered by myself is dependent on the amount of currency your looking to buy and also the frequency so if your looking to buy smaller amounts on a more regular basis you will get a better exchange rate offered than if you were looking to buy smaller amounts once a year for example as opposed to being on a regular basis.
Q:
At what point will I book my exchange rate?
A:
It's very very important to remember first of all we cannot book any exchange rates for you until you open an account, you not obliged to use this account once it is opened there is no cost for opening this account but you do have to have one open before you can book an exchange rate. Once you have your account open you can book an exchange rate at any time between the office hours of 8:30am to 6:00pm. In order to book an exchange rate you need to call me and speak to me over the phone, or I can call you speak to you over the phone and I’ll confirm the exchange rate that I can offer and if you happy to accept we will book the exchange rate there and then. More often than not you will book your exchange rate before you send the money, the exchange rate will be frozen if you like or fixed at that point so the exchange rate will not change.
Between the time you book the rate and the time we will receive your money, so please some think when they book an exchange rate and the exchange rate changes they think their exchange rate will be different when the money is received that's not the case you book an exchange rate as long as your money is received on time as per the agreement, settlement date that we agree with each other that’s fine your currency today will guarantee at that point and when we receive your money
Q:
Who are currency today?
A:
Currency today are a foreign exchange website helping you find much better exchange rates than using your high street bank and therefore saving you money over using other banks and brokers. We can help you find better exchange rates if you’re looking to transfer electronically currency overseas or if you’re looking to sell foreign currency from overseas back into UK pounds we can certainty help. If you have any enquiries please fill out the enquiry form on our home page, and I’ll give you a call straight back.
Q:
Will I get the exchange rate that is displayed on your home page?
A:
the answer to that question is no, basically those exchange rates are displayed there are an indication interbank rates and that’s the exchange rates that banks use to trade with each other and the exchange rate that you’ll receive will be very close to that so it works as a very good guide however it does depend on the frequency and the volume of transactions you are looking to undertake so number one is how often are you looking to buy currency and number two is if you are looking to buy currency what sort of size transactions you’re looking to actually undertake and that will dictate to you what exchange rate we can offer. Obviously that exchange rate will be far better than your bank and other brokers so you will be saving money but it does as I say depend on how much you’re looking to buy. If you have any enquiries please fill out the enquiry form on our home page and I’ll give you a call straight back.
Q:
How do I know my money is safe I found you on the internet?
A:
Quite simply we refer all of our enquires to a broker that can help find you much better exchange rates than your bank, but is actually regulated by the same authority as the banks and that’s the financial services authority. In addition to being regulated by the financial services authority, they are also regulated by HM revenue and customs as a money services business. Both of these details can be fully vetted on the relevant websites and in particular the FSA register will display information on the company to show that they are fully FSA regulated.
Q:
Are there any extra costs or hidden fees?
A:
No, there is no transfer charges, extra fees or commissions to pay on your
transactions what so ever. We build all of our costs into the exchange rate
we offer. If you have any further questions you would like to ask please
feel free to give me a call on 0207 183 2291 or complete the enquiry form on
the right hand side --->
Q:
Can I buy if the rate moves up?
A:
So that’s can I buy currency at a particular exchange rate should the market go in my favour. Well yes you can quite simply you can use an instrument or a tool in the foreign exchange markets known as a limit order for example if the exchange rate right now to buy was 1.25 but you wanted to buy Euros at 1.26 you could place a limit order with me at 1.26 and that will run in the market GTC which means for good till cancel so basically that will run until you cancel that order, and that order will run 24 hours a day seven days a week. So if the market temporally moves up to 1.26 you will automatically be bought at that exchange rate or be sold Euros at that exchange rate at 1.26 which is advantages to you because obviously it’s higher than the current rate. Now there is no charge for using that tool in the foreign exchange market. All you need to do is simply call me, tell me you’d like to book at that exchange rate I will place the order into the market and confirm the order with you by email if the exchange rate then moves up to that desired rate then we will call and email you to confirm and you will be booked at that exchange rate.
Q:
Can I protect myself if the exchange rate moves down?
A:
The answer to that is yes. You can use an instrument or a tool in the foreign exchange markets called a stop order. This works in the opposite way to a limit order because it protects you against adverse exchange rate movement. So if for example your looking to buy Euros today at 1.25 but you want to protect yourself so you by at exchange rate minimum of 1.24 you can put in a stop order of 1.24 this will run GTC which stands for good till cancelled which basically means it will be run till you cancel or myself and that means that your protected should the pound de-value further against the Euro and your loses are limited so you only would be buy at 1.24 as opposed to a possibly lower rate if the rate did move down from 1.25 say to 1.23 then you’d be protected at 1.24. If you have any more questions you’d like to ask me about this particular service that we offer incidentally this is a free service please give me a call on 0207 183 2291 that’s 0207 183 2291 or you can visit currencytoday.co.uk or you can click on the link to the side of this video monitor and go straight through to our website.
Q:
How long does it take to open an account?
A:
So how long does it take to set up an account with currency today Well the answer to that is not very long at all, you can go onto our website and complete the application form in under two minutes you then need to send to me by email or by post a minimum of a photocopy of your passport photo page. Once I’ve received that document and any other documents if required then your account will be open within one hour. So therefore you can open an account quite realistically within one to two hours
Q:
How do I get my money to you?
A:
First way is by internet banking so you’d usually go onto your online banking and add us as a payee and transfer the money that way there is a disadvantage of that and that is if you send payments by internet banking there is usually a limit of £10,000 and it can take (depending on your bank) between 0 to 3 working days to receive your money.
The second option is to send a payment by telephone banking, now telephone banking is completely free of charge just like internet banking but the disadvantages of telephone banking are that first of all you have to call your bank which can be a pain but secondly there may be a £10,000 limit per day or at least per time or per transaction and this can again take between 0 and 3 working days depending on your bank.
Now the third option which you’ve got which is the most popular especially for amounts above £10,000 is to use a chaps payment that stands for clearing house automated payment system which is a same day service the bank offers, you usually have to do it between 9am in the morning and say 1 to 2pm in the afternoon that will cost between £20 and £30 but your money will be received the same day. So for large amounts say £50,000 for example that is a great method to use because you know your money is safely and securely sent straight over to our account we can then turn it around send your currency out the same day so the whole process can be completed within that day, the money will therefore depending on the country and the bank will usually be received the same day.
If you’re selling currency it’s a different story this will depend on your international bank wherever it’s based whether it’s in Spain or Italy or another part of Europe or another part of the world it depends on whether they have an internet facility for you to send currency to another currency account outside that country. So don’t forget if you’re in Spain you need to send the Euros to if you’re in Spain selling Euros you need to send the Euros to another Euro account but this time that Euro account will be one at the Royal Bank of Scotland in England so you need to consider these things. You also need to consider whether you need to be at the branch because if you do that will involve a flight overseas to that country in order to arrange the transfer. And last of all they may even give you the option of doing a telephone or a fax mandate facility where you can call or fax the bank to arrange a transfer to our currency account. When we receive that currency we can then turn it around convert it into sterling in the pre-agreed rate or the rate at the time that we agree over the phone when your money's received and send the sterling back again the same day.
Q:
How many years has currency today been established?
A:
Currency Today has been running for five years as a foreign exchange website
and dealt with 1000`s of transactions.
Q:
How many clients does Currency today currently deal with?
A:
So how many clients do we currently deal with well the answer to that is over 1000 clients, and those clients comprise of personal transfers that’s private individuals and businesses that deal in imports and export and need to transfer or receive foreign currency
Q:
Why use Currency Today rather than the bank?
A:
So why use Currency Today rather than your high street bank. Well firstly high street banks offer very very low exchange rates so using currency toady you get a much better exchange rate and save a lot of time especially on larger transactions. Secondly currency today is far more personal than using your bank you will only use me as your dedicated personal foreign exchange broker and you’ll not speak to different departments or different people within the company you’ll just speak to me and I’ll handle everything from start to finish. Last of all or thirdly currency today is a lot quicker than using your bank so if you need to get money urgently over to an overseas bank account or you’re looking to sell currency and repatriate money back into pounds back into your UK bank account this can be done a lot quicker and the reason for that is we are experts in that field this is all we deal with is foreign exchange and on top of that we have direct access to the banking systems required to send money and receive money overseas without you having to do that through your bank and different departments.
Q:
Is there a minimum amount?
A:
So you’re asking the question is there a minimum amount of currency that I need to buy in order to use currency today. Well the answer to that is no not really you can trade any amount of currency whether its 500 pounds or several million pounds but the point is you need to be able to save money so ideally you need to be doing a transaction above 1000 pounds in order to make a decent sizeable saving over using your bank. So therefore use that as a guide you can use or buy rather currency that is below 1000 pounds so you could buy 500 pounds worth of currency, but please be aware you will be subject a small transfer charge for any amount you’re looking to buy below 5000 pounds so any amount your looking to buy below 5000 pounds you will be charged a small fee of five pounds to send your money but other than that there will not be any other fees commission or charges and as I say your minimum amount is usually around 1000 pounds although we are open to be able to sell you smaller amounts if necessary
Q:
Can I buy holiday money?
A:
So you’ve come across our website and you’re wondering can you buy holiday money. Well the answer to this is very simple, yes you can buy holiday money if you click on the link which says holiday money at the top of the home page that’s the navigation menu bar at the top if you click on holiday money that will take you straight through to a page which will enable you to compare different exchange rates offered by different holiday money foreign exchange companies. Unfortunately we can not help over the telephone so if you’re looking at calling us to get an exchange rate we can only do this if you’re looking to transfer money electronically rather than receive notes or any type of holiday money.
Q:
Selling currency, how does this work?
A:
I’ll give you an example of that if you have an overseas property which you’ve sold and your wishing to take advantage of the strength for example of the Euro if you have a property in the Euro zone and you want to buy sterling and obviously get more sterling than you would have last year then this can be done through us very simply.
You need to set up an account first of all and then we can discuss your requirements and your time scales. The way it will work with actually booking a rate that can be done by phone no problem and then you need to establish really before booking the exchange rate how you can get your Euros in this example to our Euro account at the RBS Now there is an account that our broker has with the Royal Bank of Scotland and that’s a Euro account which is separate from the sterling account and that’s where you need to send your Euros to not to the pounds account obviously. That can be done before or after you book the transaction but you need to establish with your bank to move the money is it essential for you to be in the branch at the time in the country at the time or can you do it over the phone, by fax or by internet banking. You also need to check that your bank doesn’t charge large fees for moving Euros out of the account, now some Spanish banks can charge up to 1% just to move your money out of the account. So don’t forget 1% on 100,000 Euros is 1000 Euros that they’ll charge just to move the money so you need to check to see whether they do that if they do charge you, then you need to negotiate that with the bank and get them to avoid those fees or certainty reduce them because that’s not something we are able to do. But in terms of receiving your Euros we will receive them usually within one to three working days.
We’ll confirm when the Euros have come in and we’ll send the sterling back to your account if you’ve already agreed the exchange rate or you’ve agreed the exchange rate on the day we’ll send the sterling straight back to your account so you receive it by the afternoon in pounds ok. If you do have any other questions in regards to this obviously I can go into more depth, give me a call between the office hours
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