POSTS TAGGED : business transactions

3 Tips to Avoid Losing your Business’ Money on Foreign Exchange

Small business owners are ever more likely to be working with a variety of currencies as technology has allowed even the smallest of enterprises to trade on the global market. But most banks often charge hefty overheads for foreign exchange for business.

Currency exchange

Here’s our top 3 tips on how to avoid losing money on your company’s currency conversion.

Find a specialist multi-currency account

The overheads that banks charge for international business transfers have irritated many an SMB owner over the years. A natural progression from this has been a growing number of specialist multi-currency accounts.

These accounts aim to transfer and convert your currency at a fraction of the cost of the big banks.…

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Don’t Pay Too Much for International Currency Transfers

As a small business owner who deals in international transactions, your transition into this mode of business was likely a gradual one. Nobody goes from regional to national to international all at once. The slow, intermittent nature of your growth into a truly international market causes a lot of small business entrepreneurs to lose a lot more money on these transactions than is necessary.

International currency transfer

That’s one of the major problems about small business. Without achieving the benefits of economies of scale, it’s easy for a solopreneur or even a manager to perform an international transaction in a way that isn’t as efficient as possible.…

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