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Business Solutions
Business Solutions in Foreign Exchange Combining the Best Rates with Currency Transfer Services for Corporations
FX DEALINGS
KBR Foreign Exchange Plc. (KBRFX) is one of the market leaders in the foreign currency exchange sector. Combining preferential rates of exchange with a personalised service and a highly pro-active approach KBRFX is able to provide secure and cost-effective money transfer solutions for all currency requirements for any business.
Anyone from sole-traders to corporations can benefit from using our services. KBRFX is able to drastically reduce the costs incurred on foreign currency transfer for the sale/purchase of goods or services by providing much keener rates of exchange than high-street banks and eliminating unnecessary, often over-inflated, charges for sending and receiving funds.
SPOT TRANSACTION
On the 27th July 2010 a UK based fruit importer had to transfer money for a consignment of goods. The total cost was 75,000 Euros. The company needed to send the payment immediately for the goods to be shipped. They sourced a price from their high-street bank and compared it with KBRFX.
| High-Street Bank | KBRFX | |
|---|---|---|
| Exchange Rate | 1.1654 | 1.1894 |
| Transfer Fee | £ 24.00 | £ 0.00 |
| Total Cost | £64,331.59 | £ 63,057.00 |
| Saving | £ 1,274.58 |
FORWARD CONTRACT
On the 17th June 2009 a UK based furniture company placed an order with their Chinese supplier to the value of $250,000 for a new range of products to be delivered in March 2010. The company booked the currency with KBRFX on a forward contract for that date in order to prevent losing money if the rate moves down.
| Dollars | Pounds | |
|---|---|---|
| Cost of Goods (June '09) | $250,000 | £ 153,374.24 |
| Cost of Goods (March '10) | $250,000 | £ 165,562.92 |
| Cost of Goods (secured forward rate) | $250,000 | £ 153,846.15 |
This proved to be beneficial, as over the period between the order and the delivery, the currency rate did indeed move down. By securing the currency rate on a forward contract to protect against a downward movement in the exchange rate, as opposed to waiting to purchase the currency when the goods are due, the company saved £ 11,716.77 and paid no transfer fees.
FX AND MONEY TRANSFER SERVICE
As well as providing cost saving solutions KBRFX takes a very pro-active approach to the requirements of each business. We are well aware of the direct effect of currency exchange rate movement on profitability. With this in mind, KBRFX ensures that all clients are kept up to date with all the latest market news and exchange rates by providing daily and weekly currency market updates via a free, subscription-based e-mail service. KBRFX does not charge any transfer fees for amounts of over £3,000.
APPLYING
Opening a trading facility with KBRFX is very simple, and takes no more than a few minutes. It is completely free. There is no set-up, registration costs or monthly fees and it can even be done paper-free by using our online foreign exchange application.
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