When you are making a foreign money transfer it can be easy to lose control of how much you are spending, primarily due to currency exchange. Many businesses find they end up spending a lot more money on international purchases than they would like. However, you will be comforted to know that there is a way around this problem, in the form of stop orders.
No matter what your reasons for making international payments, you doubtless want to limit your loses as much as possible. Prices are always changing, regardless of whether or not what you are buying is in a different currency or not. Taking into account the substantial variations that occur in exchange rates over time, it is no surprise how easy it can be to end up spending a lot more than you would have intended.
Stop orders are used to provide a limit to how much you will pay, and they define an upper threshold – stating that, should the price go above your defined limit, you will be taken out of the contract and will therefore not have to pay. Stop orders exist as security, meaning they will protect you in order to stop you from ending up in a situation where you are obliged to pay more than you can afford.
At Pure FX, we provide a professional and efficient foreign money transfer service for both corporate and private clients. We have many experts on hand to advise you about everything you need, so you can be assured you will not lose out on either money or time.