What do you think makes Currencies Direct stand out above other currency brokers?
We were one of the first specialist currency providers in Europe, and since our establishment in 1996 we’ve been committed to staying ahead of the curve.
Our high-touch, high-tech approach is what makes us really stand out. While our team of dedicated currency experts are always on hand to help our customers, they also have the flexibility to self-serve through our market-leading online service and app.
Customers receive the same level of support and insight however they choose to move their money and we’re always developing our products and services to cater for evolving needs.
If a client asked you why should I trust you with my money, what would you say?
We have almost 25 years of experience in making international currency transfers simple, swift and secure.
We have an in-house compliance team, adhere to stringent security procedures, and have all the technical capabilities required to keep our customers’ funds secure.
What’s the best thing about working for Currencies Direct?
One of the best things about working for Currencies Direct is being part of a great team who put the customer at the heart of everything they do. A lot of our customers are making dream purchases so it’s incredibly satisfying when I see positive feedback, especially when the customer singles out the individual who has helped them and mentions what it means to them. We have teams across the globe and they all put customer satisfaction first. Keeping our customers happy means keeping our customers, and if we keep our customers they refer other customers to us too. It’s a win-win situation.
Our team are great. We’re a competitive bunch and staff often participate in various activities for charities. Whether it’s a hiking 100km, participating in epic cycles or forming a team to run the 170miles’ish from Sittingbourne to Dover, it’s always great to hear the stories and motivations.
What’s the most challenging aspect of the currency transfer business at the moment?
Over the last few months we’ve seen a notable shift in customer requirements, with personal currency transfers declining considerably in response to the global lockdown.
While the number of smaller transfers has remained more consistent – as customers send money to loved ones and move funds to cover living costs – the number of larger transfers has fallen.
However, corporate trading has remained strong.
Sectors with traditionally high-volume requirements (like the travel and aviation industries) have understandably experienced a reduction in FX, but many companies in sectors like healthcare, pharmaceuticals, gaming, food and drink, and health and fitness are experiencing increased demand and (subsequently) increased FX exposure.
A number of our online seller customers are also witnessing a surge in sales as the lock down drives a boom in eCommerce.
Subsequently, our Business team have been working hard to develop new initiatives to help companies cut costs and maximise opportunities during this challenging period.
Brexit is also creating challenges for the currency transfer sector, and this is likely to intensify as the exit deadline approaches – particularly if a trade deal between the UK and EU proves elusive.
Marc Morley-Freer is Global Head of Personal Clients at Currencies Direct