News: Inter Currency Payments launch competition to boost region's exports
In an effort to encourage new small and medium sized enterprises in the Sheffield City Region to begin exporting their goods and services, Inter Currency Payments is offering ten companies an equal share of a £1,000,000.00 transaction fee free foreign exchange fund.
Established by former students of Sheffield Hallam University, Inter Currency Payments, is a foreign exchange broker and money transmitter, based in RiDO's Fusion @ Magna Business Centre in Rotherham.
The enterprise is the only independent dedicated foreign exchange broker in Yorkshire and has recently received confirmation that it has been approved by both HM Revenue & Customs and the Financial Services Authority.
Each of the ten winning firms will receive a £100,000.00 transaction fee free foreign exchange fund that they can use at any point over the next 12 months to commence, or increase, their exporting activities - thereby allowing them to purchase currency at the exact same rate of exchange as Inter Currency Payments.
A spokesperson from Inter Currency Payments, said: "This £1m fund will provide our Sheffield City Region SMEs with the same level of access to the foreign exchange market as some of the world's largest companies, thereby providing a huge competitive advantage for our companies and region."
The competition is open to all companies in the Sheffield City Region that; are less than five years old, are classified as a small or medium sized enterprise, have not had an account with Inter Currency Payments in the past and can satisfy the required anti-money laundering criteria.
The company not only has direct access to the inter-bank foreign exchange market but also utilises its own propriety aggregation technology to lower foreign exchange costs for companies in the region.
A recent quote issued to one local company on a US $50,000 transaction resulted in a saving of £1,855 compared to the rate quoted by their bank. Another client saved £1,532.35 on a €39,900 transaction compared to high street bank rates.
Inter Currency Payments website
Established by former students of Sheffield Hallam University, Inter Currency Payments, is a foreign exchange broker and money transmitter, based in RiDO's Fusion @ Magna Business Centre in Rotherham.
The enterprise is the only independent dedicated foreign exchange broker in Yorkshire and has recently received confirmation that it has been approved by both HM Revenue & Customs and the Financial Services Authority.
Each of the ten winning firms will receive a £100,000.00 transaction fee free foreign exchange fund that they can use at any point over the next 12 months to commence, or increase, their exporting activities - thereby allowing them to purchase currency at the exact same rate of exchange as Inter Currency Payments.
A spokesperson from Inter Currency Payments, said: "This £1m fund will provide our Sheffield City Region SMEs with the same level of access to the foreign exchange market as some of the world's largest companies, thereby providing a huge competitive advantage for our companies and region."
The competition is open to all companies in the Sheffield City Region that; are less than five years old, are classified as a small or medium sized enterprise, have not had an account with Inter Currency Payments in the past and can satisfy the required anti-money laundering criteria.
The company not only has direct access to the inter-bank foreign exchange market but also utilises its own propriety aggregation technology to lower foreign exchange costs for companies in the region.
A recent quote issued to one local company on a US $50,000 transaction resulted in a saving of £1,855 compared to the rate quoted by their bank. Another client saved £1,532.35 on a €39,900 transaction compared to high street bank rates.
Inter Currency Payments website
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