Risk management can be helpful when managing a business. With currency exchange rates, you can protect your business from currency fluctuations. Some companies buy foreign currency in advance to pay for goods and services in the future. Other companies buy what is called a 'forward contract' which is a contract agreement to exchange money at today's exchange rates at a date in the future.
If you import or export goods, managing your exposure to exchange rate movements can make your business easier to manage because you will know your business costs, helping to manage cashflow.
Get the best exchange rates when transferring money to a foreign currency. You can transfer anything from £100. If you are transferring over £2000, there will be no fees to pay on the currency transaction. You can also manage currency transactions using an online account with TorFX. Alternatively you can speak with them on the phone to discuss foreign currency transactions.