Most of us are familiar with the process of shopping around for our house or car insurance, energy providers, etc. The advent of price comparison websites has seen us swap between providers to make sure we are saving money for the year ahead. This thrifty approach seems to be applied at business level for most financial products….but it is definitely not a regular habit for businesses that require foreign exchange services.

In the same way as people fondly refer to the “water board” when they are talking about their water supplier, we seem to apply the same nostalgic aura to our banks. But banks have changed. Whereas your bank manager would invite you in for an interview to ensure they got to know you before offering you a loan, most financial products can be applied for with a few clicks of the mouse.

While this seemingly more convenient way of doing business may appeal to some, it means the duty of care between provider and customer is often lost, and there isn’t an opportunity to scrutinise fees and rates on a one-to-one basis. Gone are the days of haggling too!

The result is that fees and margins have crept up while customer service has suffered. You are paying more and getting less!

And then there is pride. We all suffer from it. There may be a niggling doubt in your mind that you could be getting a better deal somewhere else, but you have backed your bank for so long that you cannot bear to be proved wrong.

Whether its pride, workload, loyalty or nostalgia, the unfortunate truth is that you will usually get a better deal if you seek out an alternative provider.

In the case of foreign exchange, I know a provider like us will give you a better a deal with transparent fees and better exchange rates. That means your business will save on costs and potentially make more money too. We will also take time to understand your business and make sure that one of the most important factors of foreign exchange is covered which is risk management.

Most banks will either scoot around the subject of forward buying, or not mention the benefits at all, with the fear of their client getting it wrong. We will give you unbiased help and guidance to make sure a comprehensive plan is in place over a period of time.

As well as that will get the one-to-one customer service you are paying for. You will be able speak to or email the same person time after time. They will get a clear understanding of how your business works and what its foreign exchange needs are. You will build a relationship with them.

I understand that we are all busy, but are you too busy to save money? Or is pride just getting in the way of a better deal?

We are more than happy to explain the way we work to you, introduce our FCA-authorised partners to you and give you a free consultation on how we could save your business money and plan for the future which at the present time is very uncertain.

Please do make contact if you think we can help.