Time:

 

Date:

21/11/2008

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Foreign Exchange and International Payment Solutions
Frequently Asked Questions
 

Answers

How do I make a payment?   

Settlement is required within two working days of agreeing an exchange rate with your currency dealer and can be by chaps (telegraphic transfer) or BAC's.
 
 

Is my money safe?   

Yes. We want you to feel totally comfortable when dealing with us, which is why we only hold client funds in a designated client bank account held with our principle bank Lloyds TSB. This is completely separate to our business accounts and the same type of account a lawyer or solicitor would use.
 
 

What costs are involved?   

On transfers below £50,000 (or foreign currency equivalent) there is a charge of £15 for a priority international transfer. For amounts above this we allow one free transfer per transaction. You also have the option to purchase an ITR (International Transfer Receipt) at a cost of £10 which offers proof of payment.
 
 

What rate will I get?   

Unfortunately we cannot accept payment by cash.
The exchange rate you receive will be based on the amount you are transferring, the currency you are buying and the current interbank level (the price at which one bank exchanges currency with another).
 
 

Why use Pure FX instead of my high street bank?   

We buy high volumes of currency directly from the wholesale market and are therefore able to offer you more competitive exchange rates than your high street bank. There is zero commission and Pure FX aims to arm you with the appropriate information and financial tools so you can protect yourself from currency risk.