Importing and Exporting: The Currency Problem and How To Fix It!

Importing and Exporting

The Currency Problem You might win or you might lose. Either way, you’ve got to ship! The currency problem creates a risk factor for any company importing and/or exporting. While your product is being shipped, you may be losing profits due to relative changes in currencies against the US dollar or whichever base currency is used in the country you’re in. Overseas buyers usually pay for imports in their own currency so they know exactly what they are paying, before the intermediary bank converts the funds into the local currency…

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If your business sends US Dollars to China, this article’s gonna make you smile…

Sending Money to China to Pay USD invoices

Did you know?! The team here at TransferMate assist corporate client’s everyday across the world when sending US Dollars to China. We’re all about speed: Using our online international payments platform, your business can now pay USD invoices to China fast, securely and with better USD exchange rates! rather than lengthy delays in sending funds. We’re all about savings: If you are a company sending money to China to pay USD invoices to Chinese suppliers, we can save you money on your international money transfer thanks to our better exchange…

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Global Payments Simplified

Global Payments Simplified

As more companies rapidly increase their businesses in scope and size, the need to cover more payments related to having staff and teams operating all over the world, hiring vendors in various countries, and expanding the use of services and products across a wider platform becomes a critical component of operations for businesses today. Handling what becomes known as a ‘mass payments process’ quickly becomes a highly complex and laborious task. There are different currencies, languages, and tax systems to consider, as well as other challenges associated with the technology…

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What is the Best Way to Receive Payments in a Foreign Currency or Collect Payments from Overseas Clients?

Best Way to Receive Payments

The Internet has facilitated how we can work together as a global business environment. It has offered the freelancers, entrepreneurs, and small business owners with a world of opportunity to expand their customer base. Technology like content management systems, instant messaging, video conferencing and more, make it easy to get customers and clients throughout the world. One part of the freedom in that equation to work and go global, is that it really creates a challenge in your payments system. The act of getting paid, or paying someone else for services…

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Bank of England resorts to drastic measures to prevent recession in UK

Bank of England

The Bank of England (BoE) have decided to take drastic actions to stop the UK entering a recession by cutting interest rates from 0.5% to 0.25% and pushing billions of newly created money into the economy. This is the lowest level interest rate cut in the institution’s history of 322 years.

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