Stockford Limited is a holding company for a diverse group of organisations which include viticulture, hotels, technology and property businesses. With businesses situated all over the world, the need to transfer money internationally from one currency to another in the most cost effective, safe and transparent way is business critical.
Will Wallis, Investment Director at Stockford Limited commented, “Traditionally, we had always gone down the route of using our banking relationships for this purpose and never considered any other route”.
Many businesses are unaware that their bank is such a costly way for sending and receiving international payments, in some cases charging up to 4% on international transfers. It is almost impossible to compare prices and the final cost may be different to the one originally quoted. In addition, banks often claim that they don’t charge any fees or commissions but then fail to point out that they profit significantly from the spread between the mid-market rate and the conversion rate they offer to their customers.
Will continued, “We immediately saw the benefit in the ability to quickly, easily and safely transfer money by using Money Mover. Our savings across the group over the last six-month period have been into USD six figures (yes, six figures!!) and we can see that increasing in the future”.
As an advocate of Money Mover from day one, Will has also recommended Money Mover to a number of contacts and group companies. “All those who have used the service following our recommendation have been extremely grateful for the introduction,” said Will. “They have all experienced immediate saving without any real effort involved”.
One of the key benefits of Money Mover that distinguishes it from the vast majority of other providers is the transparency of the service. The fees and exchange rates are clearly displayed and communicated and clients are kept fully informed at each step of the transaction process, from confirmation, right the way to delivery of funds to the beneficiary. “The savings are obviously fantastic”, said Will, “But the ease of use, safety and security are equally important. This is where Money Mover ticks all the boxes for Stockford”.
He continued, “Frankly, anyone who knows about it and manages money transfers but who doesn’t use it to benefit their organisation should fire themselves! We will definitely continue to use Money Mover it’s a first class service”.
To see how much you are being overcharged by your banks and how much you could save by using Money Mover click here.