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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8 Ways to Improve Your Foreign Currency Conversions

Author: Arron Finn Currency Volatility Destroys Companies Profits November 5, 2015 Arron Finn Images showing the forex market experiencing currency volatility Due to globalisation, companies whether doing business internationally or nationally are effected by currency volatility which can impact profitability. For instance, how about losing 298 million pounds in nine months due to emerging market currency volatility. Or Swiss companies facing increasing pressure once the Swiss Central Bank allowed the Swiss Franc to float on the open market. READ MORE Blog, currency volatility, Emerging currencies, Foreign CurrencyLeave a commentEdit "Currency Volatility Destroys Companies Profits" Irish Charitable Trust Receives Support From TransferMate October 13, 2015 Arron Finn Team of 35 cyclists who are part of Irish Charitable Trust TransferMates Managing Director, Barry Dowling took part in a 230 kilometer cycle which began in Greystones and finished in Cardiff. Irish Charitable Trust has raised one hundred thousand euro for the IRFU Charitable Trust, Focus Ireland and Team Jonathan Ranson. Each charity does incredible work within its own respective field. The IRFU Charitable Trust aims to support rugby players who get a life changing injury. READ MORE Blog, UncategorizedLeave a commentEdit "Irish Charitable Trust Receives Support From TransferMate" 8 Ways to Improve Your Foreign Currency Conversions

If part of your job involves converting foreign currency to US dollars or vice versa, 2014 could have been a challenging year for you.

If you are based in the U.S. and selling to clients overseas, your products – depending where you sell them – this year became on average 10% more expensive (US Dollar Index+9.8%). If you were importing it was a banner year – you just saved on average 10% on your products. By historical standards this was one of the best appreciations of the dollar over the last 15 years.

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