Currency Exchange Services  (3/12/2005)

To provide additional value to our customers, Candour Consultancy has teamed up with Currency UK to offer the best exchange rates for when you need to exchange funds; whether it be to purchase a property, buy a new car or purely to play the currency markets. As a leading provider of commercial foreign exchange, Currency UK is dedicated to providing a first class and comprehensive service to individuals and companies the world over. Here are some of the advantages of using a currency exchange specialist:

• Secure the most competitive exchange rate in the market.

• Save hundreds or even thousands of pounds when compared with high street bank rates.

• Fix the rate immediately over the telephone. This rate is guaranteed regardless of fluctuations in the market.

• Arrange forward contracts. Guarantee a rate today to provide for a future requirement.

• Benefit from low cost, fast and secure currency transfers to any account worldwide.

• No arrangement fees

Currency UK focuses on cutting the cost of international currency settlement and in supplying our clients with the most competitive exchange rates available. Our dedication and commitment to security, speed of process and general customer service, ensures ours is the standard which now leads the industry.

Below are some Frequently Asked Questions on international currency exchange:

How can Currency UK save me money?

For example, on 23 September 2003 NatWest were offering the US Dollar at £1 = $1.6240. Currency UK exchanged £45,000 for a customer at a rate of 1.6470. The customer received $74,115, which was $1,035.00 more that he would have received using the NatWest rate.

Fixing a rate by way of a forward contract (something that the high street banks do not usually mention is available) can also be beneficial. For example, on 16 September 2002 we booked a forward contract for $115,425 at £1 = $1.5713, for maturity in December2002. This cost the customer £73,458.28. Had the customer waited until he required the money, a spot rate available (for example) on 27 November 2002 would have been £1 = $1.5501. The same Dollar amount would have cost him £74,462.94. This produced a saving of £1,004.66.

Please note that both of the above are actual examples, however the savings available in specific individual cases will be governed by the prevailing market rate at the time of contract.

Please always call us with your specific requirements.

How should I pay for my currency?

You may pay by TT/Chaps or BACS or simply post a cheque. We will explain the payment procedures to you in more detail prior to securing a rate.

What fees will I be charged?

You will be charged no exchange commission fees as such. Any charges will already have been accounted for in the rate we give you. The only additional cost to you will be a £15.00 fee for telegraphic transfers or foreign drafts

When I have paid, where do my funds go?

All client funds received by Currency UK will be held in a dedicated client account by our bankers. The following working day after funds have cleared they will be transmitted to the relevant bank account specified by you on the contract note.

Why do I pay a 10% deposit on a forward contract? 

The 10% deposit acts as a security on the forward contract guaranteeing the rate for delivery at a future date. The remaining balance must be settled a minimum of 48 hours prior to the value date stated on the contract.

Will I get similar rates to those quoted on BBC Ceefax page 241?

No. The figures are mid prices for amounts in excess of £1,000,000.00 and are indicative of the inter-bank rate. Consumer rates will traditionally be offered between 3% and 4% in excess of these figures.

What is the smallest amount of sterling I can exchange?

Unfortunately, the smallest denomination Currency UK are able to process is £5,000.00

To obtain further information on Currency UK, just click the link below to visit their website