Saving Money on Currency Transfers

One-off transaction

Significant Savings 

Allison is buying a new motor yacht from a Finnish builder. She’s been invoiced for the construction and delivery of the boat for €100,000 Euros. By using Velocity Trade, she has been given a much better rate to make the payment and has saved approximately NZ$2,000 on the cost of the boat.

Moving Overseas？

Relocating needn't cost the earth.

When the Andersons moved from the UK to New Zealand, they expected to use a bank to transfer their money. That would have meant lining up in the branch, filling out forms, paying a fee of ₤25, and getting an exchange rate of 2.6800. They discovered they could simply log on to Velocity Trade's LatitudeGT platform and do the whole transfer online at a rate of 2.7210, all with no fees.

International Business Transactions

Exporter

Guthrie Farms has been breeding successful racehorses for many years, with many of their champions being sold to overseas stables. When the overseas buyers pay for the horses in US dollars into Guthrie's local bank account, the bank has been charging a 'foreign currency handling fee' of $50 and then converting the foreign currency at the bank's chosen rate. In many cases, this rate has been 2.5% higher than the going wholesale or 'interbank' rate. Using Velocity Trade, Guthrie Farms would have saved unnecessary bank fees and approximately 2% on all their overseas earnings – on exports of $1.5million, that’s annual savings of $30,000!

Velocity Trade has helped many people move funds around the world. Want to see how we can save you money on your Foreign Exchange Transfers?

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