South West Foreign Exchange Ltd

14/10/2024

'Fraud' very much seems to be the buzzword in the market right now. We agree with other FX companies in believing fraudulent activity could be prevented if greater communication takes place between the parties and more care is taken to ensure the destination of funds was bona fide and correct:

As of October 7, 2024, payment service providers (PSPs), including South West Foreign, have to adhere to rules issued by the Payment Systems Regulator stating PSPs must fully reimburse victims of authorised push payment fraud up to a value of £85,000.

18/07/2024

New article recently published by the Devon & Plymouth Chamber.

It will not surprise you to learn that I think foreign exchange (FX) services are a hidden barrier that is not really spoken about or even really understood by many businesses. It is an element of trade that is seemingly just handed over to the banks, which always elicits an audible groan from a Devon-based independent service provider like us.

Tim Sheehan from South West Foreign Exchange looks at tackling the barrier of foreign exchange for Devon import and export businesses.

13/06/2024

While the politicians can bandy around the trade numbers at will and political parties can interpret them to suit their arguments, I am more interested in the individual businesses that make up those figures. I am interested in making them more money from trading the same way but with better foreign exchange support on board.

Read my blog to find out more or get in touch.

We’d be delighted to hear from any import and export business that is looking for a change to their current supplier and wants to tackle the barrier of foreign exchange with our help. We are not going to create a race to the bottom on pricing, as that never works in practice, but we believe we can offer you an overall service that is a lot better than most on the market right now.

https://www.southwestforeignexchange.co.uk/tearing-down-the-barrier-of-foreign-exchange-for-uk-import-and-export-businesses

04/06/2024

The Secretary of State for Business and Trade Kemi Badenach claimed: “We are tearing down the barriers to trade.”

Sure, the trade deals achieved under the Conservative reign should assist import and export businesses but are there hidden barriers that are holding them back from making more profit?

It will not surprise you to learn that we think foreign exchange (FX) services are a hidden barrier that is not really spoken about or even really understood by many businesses. It is an element of trade that is seemingly just handed over to the banks or larger FX service providers, which always elicits an audible groan from an independent service provider like us.

Let us explain....

https://www.southwestforeignexchange.co.uk/tearing-down-the-barrier-of-foreign-exchange-for-uk-import-and-export-businesses

Currency values can fluctuate significantly due to various factors. Political, economic and financial indicators and announcements are the most common which, in turn, can heavily impact one currency against another. 

03/04/2024

Businesses spend a lot of time and effort entering the international marketplace so if you are either making outward payments as an importer or receiving foreign funds as an exporter, it is imperative that you evaluate at what point within your supply chain are you exposed to currency risk.

There is no point whatsoever in setting up overseas supply chains and not keeping an eye on the potential risk. Businesses are not set up to lose money but by not hedging, there is a good chance you will.

We explain currency hedging and its benefits: https://www.southwestforeignexchange.co.uk/currency-hedging-and-the-benefits-of-unique-iban-numbers

18/03/2024

Currency hedging is a risk management strategy used by investors and businesses to mitigate the potential losses or volatility stemming from fluctuations in currency exchange rates. It is particularly crucial for businesses or individuals engaged in international trade, investment, or any financial transactions involving multiple currencies.

Our blog explains how currency hedging works and how it can benefit your business: https://www.southwestforeignexchange.co.uk/currency-hedging-and-the-benefits-of-unique-iban-numbers

Currency values can fluctuate significantly due to various factors. Political, economic and financial indicators and announcements are the most common which, in turn, can heavily impact one currency against another. 

08/03/2024

Here are our five easy steps to supporting the foreign exchange (FX) needs of our corporate clients:

1. Fact finding

2. Registration

3. Buying and selling currency on your behalf

4. Trade confirmation

5. Onward payment

It's as easy as that!

Find out more: https://www.southwestforeignexchange.co.uk/about

06/03/2024

We give private individuals the power to make foreign currency payments at far more favourable exchange rates than their bank or others are willing to offer. We hear about too many transfers being made through the individual’s bank for reasons of convenience and possibly lack of time but that only really results in increased cost and worse exchange rates.

More advice here: https://www.southwestforeignexchange.co.uk/is-a-bank-really-more-convenient-for-foreign-exchange-services-if-it-costs-you-more-money

Whatever your international money transfer or payment is for, we have the experience to offer every possible advantage when buying or selling currency. We fully understand your exposure to the ever-fluctuating currency market and make sure you are set up to pay and receive funds as competitively and...

01/03/2024

[New blog] Is a bank really more convenient for foreign exchange services if it costs you more money?

We look at this topic from the point of view of the private client rather than a business.

https://www.southwestforeignexchange.co.uk/is-a-bank-really-more-convenient-for-foreign-exchange-services-if-it-costs-you-more-money

Whatever your international money transfer or payment is for, we have the experience to offer every possible advantage when buying or selling currency. We fully understand your exposure to the ever-fluctuating currency market and make sure you are set up to pay and receive funds as competitively and...

20/02/2024

Are you an IFA that wants to offer further benefits to your private and corporate clients? If they are involved in international trade, or make overseas payments, or have an exposure to foreign exchange risk, then we can help them secure the best financial outcome as a bolt-on to your service provision.

It costs you nothing to find out more, just get in touch to understand our:

💷 Competitive rates
👌🏻 Personal, hands-on approach
📢 Communication and attention to detail
🌍 Universal IBANs

https://www.southwestforeignexchange.co.uk/ifas

13/02/2024

We are looking to form strategic partnerships with any law firm with corporate and private clients who are engaged in single or multiple international money transfers or for any client who might be exposed to currency risk.

We have worked alongside several law firms throughout our 15 years of trading enabling them to add value to their service offering.

Find out more here: https://www.southwestforeignexchange.co.uk/law-firms or contact us.

23/08/2023

With the last four months of the year approaching fast, and hopefully seeing positiveness coming out of the markets, why not start afresh in September and look more closely at your currency strategy? Where do FX services fit into your business strategy?

https://www.southwestforeignexchange.co.uk/considering-foreign-currency-payments-as-part-of-your-business-strategy