The Wholesale Forums

[Chiltern Dancer]

Hi everyone

I thought this might be of interest to anyone who regularly pays overseas suppliers.

It still amazes me how many companies still use their own banks to transfer money and get absolutely hammered on the fees and exchange rates.

DON’T DO IT!!!!

I work for a company part-time called Interchangefx as their SEO and Adwords consultant. I myself buy goods from China and have experience with using the rip-off banks.

Okay, Interchangefx. How do they fare better than the banks on fees? Well, for a start their exchange rates are much better than the banks. Basically they buy currency in vast amounts and pass the savings on to their customers.

Transfer fees are £5 for orders under £5K and free for amounts over this. If you state you are going to trade on a regular basis the fee get wavered on the lower amount!

They use Swift payment system which is quick and secure and your funds can be transferred to the designated bank account of your supplier.

Yes, I an associated with Interchangefx but as stated I am responsible for the online presence not with the selling of the business. We have just started advertising on the Wholesale forum as personally I think a lot of you guys can benefit from the services they offer. I did, even got a job here!

Interchangefx/importdesk

Lee

[Andy777]

My bank offers almost the same conversion rates, but sure, there are people who can greatly benefit from this company. Probably it's more suitable for people in UK.

[Chiltern Dancer]

Hi Andy

Many of the customers are based overseas. Interchangefx has a large customer base in the States and in Europe.

South Africa is very popular currency as this is one of the countries where for exchange purposes you can really benefit from booking forward rates much higher than today's exchange rate and really clean up.

Give em ago!

[canada]

The company Interchangefx is a paid advertiser on the forum!

Not a Spam Post,my mistake!

Scott

[peth]

interesting, i'll take a look at this. Thanks for the info

[Chiltern Dancer]

Hi all

Canada is right, as you can see we are advertising throughout the forum in the skyscraper section over on the right hand side. Just refresh your page and our banner will appear. Long may this contiue.

From our point of view you guys are just what we need. Import and export is a massive market and is growing all the time. The credit crunch will have some effect on the type of goods people buy but the consumer is always going to buy imported goods of some sort.

We like to build a relationship with all our customers helping them save money on their foreign exchange needs. We find word of mouth is the best form of advertising. People always like the personal service and saving money. That iis what we do!

Lee

[consultant]

what is the fee structure if I want to move US$ from UK to, say, China, not covert and pay?

[Chiltern Dancer]

Hi Consultant

I think what you are asking here is to move $US dollars from the UK to pay into your Chinese supplier's bank account?

If this is the case then we wouldn't be able to help you as this is classed as money laundering. We are a currency exchange buisness and we are not allowed to do same currency transfers.

I hope that makes sense