International Currency Exchange Examples

Example 1: Convert now

A UK based consulting firm wins some business from a US client and receives an initial payment of US$100,000. All of the outgoings from the consulting firm (e.g. rents, wages) are in pounds. The consulting firm requires the funds immediately to begin the project and wants to convert the US$100,000 funds into pounds.

They login to Hello Currency, get quoted a great rate of exchange using the 'Convert Now' feature. The pounds sterling is available in their account within 48 hours. They also receive an extra £330 when they exchange with Hello Currency compared with a typical Bank.

Example 2: Fix a rate for the future

A food and beverage importer imports US$150,000 of wine from the United States and the invoice is due for payment in 60 days. The current exchange rate is 1.7405 United States Dollars to the Pound requiring them to pay £86,182. The importer is concerned that the exchange rate may change in the next 60 days, costing them more money to buy the wine.

They login to Hello Currency and secure a fixed rate for 60 days time using the 'Fix a Rate for the Future' feature. The currency exchange rate for 60 days time is 1.7385 requiring them to pay £86,281. The importer pays a 10% deposit to secure the future exchange rate, with the balance payable in 60 days.

Although fixing a rate for the future is easy with Hello Currency, their Bank had never offered them this service. With Hello Currency, the importer had found a new way to reduce the risk of currency fluctuations.

Example 3: Pre-order currency at the rate you desire

A motor cycle importer needs to make a EUR250,000 payment in 10 days time. The current rate of exchange is 1.4825 Euros to the Pound, requiring the importer to pay £168,634. The importer would like to pay less for their Euros. The importer picks a rate of 1.4925 by using the 'Pre-order currency at the rate you desire' feature on Hello Currency.

Hello Currency monitors the currency exchange rates 24 hours per day. In three days time at 4am in the morning, the currency exchange rate hits 1.4925. The currency exchange order immediately fills and the client achieves their desired exchange rate of 1.4925. The next working day, Hello Currency notifies the importer that their order has filled. The importer now pays only £167,504, making a profit of £1,130 on their currency exchange.

Although pre-ordering currency at the rate you desire is easy with Hello Currency, their Bank had never offered them this service. With Hello Currency, the importer had found a new way to improve their exchange rates and reduce the risk of currency fluctuations.