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June 2024 Edition

An expert providing businesses with a secure online platform for collecting, converting and sending international payments in multiple currencies: CurrencyWave

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CurrencyWave is an agile, transparent digital business dedicated to supporting small and medium-sized enterprises (SMEs) engaged in global markets and individuals conducting international currency transfers. Based in the North of England, CurrencyWave is among the few independent foreign exchange brokers in the region, providing a vital service to a diverse array of businesses. Their online platform operates without set opening hours, enabling users to make payments around the clock from any location worldwide. At the core of CurrencyWave’s value proposition is transparency. Clients benefit from competitive exchange rates that surpass those typically offered by banks, alongside the ability to manage the risks associated with international currency fluctuations. The company’s low overheads enable them to provide these advantageous rates without imposing bank charges. Instead, customers pay a small fee that is seamlessly integrated into the real-time exchange rate displayed on CurrencyWave's platform. This rate is shown alongside the live wholesale market exchange rate, allowing for immediate and clear comparison.

CurrencyWave’s global reach is another significant advantage for its clients. Each client is provided with a single multi-currency IBAN account number, facilitating the acceptance of incoming payments and the sending of outgoing payments in over 34 currencies to 212 countries. This extensive coverage is supported by CurrencyWave's payment provider, which holds regulatory licenses in various jurisdictions, including the UK, EU, and USA. Consequently, CurrencyWave can onboard clients from over 50 countries, enhancing its ability to serve a truly international clientele. Security is a paramount concern for CurrencyWave, and the company takes extensive measures to ensure the safety of client funds. Payment services are facilitated by Currencycloud, a leading payment provider and a subsidiary of Visa Inc. Currencycloud is regulated by the Financial Conduct Authority (FCA) and processes approximately $60 billion in global payments annually. The platform upholds the highest standards of physical, network, encryption, and information security, ensuring robust protection for all transactions. Client funds are safeguarded by FCA-regulated e-money partners in segregated accounts at tier-one banks, providing an additional layer of security. In the unlikely event of Currencycloud's insolvency, clients' money remains protected, underscoring CurrencyWave’s commitment to secure and reliable service.

CurrencyWave’s commitment to transparency, global reach, and security has positioned it as a trusted partner for SMEs and individuals navigating the complexities of international finance. By offering a user-friendly platform that operates around the clock and providing competitive exchange rates with minimal fees, CurrencyWave empowers its clients to conduct business and personal transactions with confidence. The company’s innovative approach and dedication to customer service ensure that it continues to meet the evolving needs of its diverse clientele, making it a standout player in the foreign exchange market.

Your next generation foreign exchange specialist

CurrencyWave offers a compelling foreign exchange and international payment solution for businesses engaged in global trade but struggling to secure favorable exchange rates through traditional banks or FX brokers. Many businesses are unaware of alternatives to the expensive, slow, and cumbersome services offered by banks. In today's competitive landscape, choosing the right solution for international payments is crucial for serving customers, managing supply chains, and meeting operational needs cost-effectively.

CurrencyWave levels the playing field in foreign exchange by providing several key benefits:

  1. Zero Bank Charges: Businesses can conduct international currency transfers without incurring bank charges.
  2. Speed and Accessibility: CurrencyWave offers a faster, 24/7 currency transfer service.
  3. Wide Currency Support: Payments can be converted into 35 currencies, covering 212 countries.
  4. Rate Lock-In: Businesses can lock in exchange rates to manage currency risk effectively.
  5. Payment Reception and Conversion: Companies can receive and convert payments from overseas customers.
  6. Payment Tracking: The platform allows businesses to track payments via MT103 SWIFT messages.
  7. Exceptional Customer Service: CurrencyWave prides itself on providing superb customer support.

Businesses utilize CurrencyWave for various purposes, including:

  • Import/export payments
  • Transferring funds to/from overseas subsidiaries
  • Paying overseas suppliers
  • Online merchant processing
  • Purchasing plant/machinery/property abroad
  • Acquiring foreign businesses
  • Repatriating foreign currency payments from abroad

The CurrencyWave platform is designed for ease of use, requiring only four simple steps to get started. With efficient checks, businesses can be operational the same day. The process begins with requesting a free review of past currency transactions to identify potential savings.

Further Benefits for Globally Trading Companies: CurrencyWave has tailored its services based on feedback from globally-oriented businesses, offering features that distinguish it from banks and brokers:

  • Four-Eye Authorization: Multiple access permissions and restrictions can be set for different users, incorporating trade-size limits or view-only access.
  • 24/7 Platform Access: SMB customers benefit from round-the-clock access and the flexibility to execute transfers at any time, crucial for those working across different time zones.
  • SWIFT Settlement: Same-day payments are provided for most currencies.
  • Instant Trade and Confirmation Emails: Businesses receive immediate confirmations for their transactions.

CurrencyWave maintains consistent pricing, avoiding the practice of offering attractive 'honeymoon' rates that later increase. Charges remain constant, ensuring transparency and reliability. The platform also includes features like pre-saved beneficiary bank account information to save time, built-in auto-validation software to avoid errors, and indefinite trading and payment history records, surpassing the typical three-month retention period offered by banks.

Additionally, client funds are safeguarded by FCA-regulated e-money partners at credit institutions, ensuring security and peace of mind.

CurrencyWave’s business account offering is designed to provide businesses with a cost-effective, reliable, and transparent solution for their international payment needs, empowering them to operate efficiently in the global marketplace.

Jamie Holmes FCSI, Founder 

“Whether you’re an established importer/exporter, new to foreign exchange transfers or you’re looking to plan a more complex strategy, CurrencyWave is here to help.”

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