Commonwealth Business Council announces New Tool for Foreign Currency Transfers

Feb. 16, 2010 - PRLog -- Sendfundsoverseas.com and sendmoneyhome.org, which are independent money transfer comparison services, have forged close relationships with the world’s leading foreign exchange specialists to minimise foreign exchange risks, simplify the process when making international payments and ultimately save companies and individuals money. Dedicated account managers offer a hand-held approach so that users can simply get on with running their businesses.

This site compares the services of banks and dedicated foreign exchange specialists (now known as authorised payment institutions under new FSA regulation) to assist in finding the most cost-effective or most suitable foreign currency service to suit their needs.  Depending on the size of transfers, savings could amount to tens of thousands of pounds per year.

The partnership between the CBC and Sendfundsoverseas.com offers direct benefits for corporate clients such as:

•   International currency payment specialists monitoring the market and trends
•   Forward contracts – allowing a company to reserve a certain amount of foreign currency at a fixed exchange rate to be used by a certain date
•   Tailored solutions to mitigate the risk of currency fluctuations
•   Ability to negotiate a fixed margin
•   Streamlined Payment Processes
•   Excellent exchange rates
•   No fee
•   Security (Client segregated accounts)

Dr Mohan Kaul, Director General of the CBC says, “Throughout the Commonwealth, companies are making an increasing number of international payments in order to manage their business requirements. In today’s volatile marketplace, it essential that a company has solutions that can help their businesses grow and compete more effectively. Additionally, the Diaspora working abroad now has a new and effective tool for making safe and convenient money transfers home.”

David Ellingham, Chairman of the Parent company of Sendfundsoverseas.com says,  “By promoting competition and transparency, our customer focused website will ensure a better deal for those transferring money.  By working closely with financial service providers internationally, the site now provides information for money transfers between 50 sending countries and 110 recipient destination countries, listing various options and methods enabling visitors to find the best deal.  We will continue to work with the financial sector to make sure payments are easy, affordable, secure and on time."


Follow this link for a real-time, independent, impartial comparison of the best value services offered for transferring money globally:
For corporates: www.sendfundsoverseas.com

For individuals: www.sendmoneyhome.org

About Commonwealth Business Council

The Commonwealth Business Council (CBC) provides leadership in increasing international trade and investment flows, creating new business opportunities, promoting good governance and corporate social responsibility, reducing the digital divide and integrating developing countries into the global market. In fulfilling its mission, CBC strives to provide a bridge between the private sector and governments, between emerging markets and developed markets and between small businesses and the international private sector.

CBC’s goal is to achieve economic empowerment for shared global prosperity through the enhancement of private sector contribution to social and economic development.

For more information, please see www.cbcglobal.org

About Sendfundsoverseas.com and Sendmoneyhome.org

Sendfundsoverseas.com has been developed to cater for an increasing number of corporates, expatriates, investors and overseas property owners, amongst others, who regularly send larger amounts of money overseas.

Its sister site, www.sendmoneyhome.org  was originally funded by the UK government and launched in March 2005. It has already been established as the widest reaching and most comprehensive independent online comparison site for international money transfers and has been described as the ‘benchmark’ for money transfer comparison sites by the UK’s champion for consumers, Martin Lewis (moneysavingexpert.com).

Since its inception, Sendmoneyhome.org’s mandate has been to encourage competition, reduce transfer fees and provide information about money transfer options that were otherwise not commonly known.

Sendmoneyhome.org has recently been awarded for their success in the national BT Business Essence of the Entrepreneur competition, judged by Dragons Den’s Peter Jones highlighting companies that are using technology to succeed.  Please see www.bt.com/entrepreneur.com for further details.

For more information, please contact:

Emmanuel Addy
0207 100 5641
emmanuel@sendmoneyhome.org

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SendMoneyHome is the leading international money transfer price comparison site.

At present, SendMoneyHome works with over 200 strategic partners and is regularly regarded as the ‘champion for consumers’ in the money transfer industry.