The simple fact is, if you’re selling to shoppers overseas, and letting the likes of Amazon or PayPal administer your payments and then also send you the money you’ve made, then you’re losing out on some of your margin.
It’s time to engage a currency exchange specialist and make sure you’re getting the best exchange rate possible. That’s where our 2017 ebook called Optimising Foreign Currency Exchange: the guide for marketplace sellers and online retailers written in collaboration with OFX comes in.
It has a number of different key messages. Firstly, if you sell overseas on marketplaces then you can do better and make more by utilising a currency exchange specialist. The banks aren’t much more favourable than the marketplaces, of course.
And it’s not just about the repatriation of funds from a foreign currency into sterling. Other services such as forward contracts mean that you can lock in a rate for a future transaction. That copulate be buying in stock from overseas. The ability to fix a future rate means that you can plan and have a certain cash flow even though you may not be settling the bill for several months.
Secondly, currency exchange specialists such as OFX aren’t just there for the big retailers (although few bigger retailers don’t utilise their services). Whatever your total turnover or the volume of international sales, there is an opportunity for you to add something to the bottom line. They offer a variety of currency services which are explored in the ebook.
Thirdly, engage a currency exchange specialist and you have access to expertise. The myriad of things you have to deal with on a daily basis are quite sufficient that also being a proficient and knowledgable pundit on the global money markets too. This way you will have access to an additional resource that can help you build your business and the proportion of and total that you get from overseas.
It’s free to download. So to sum up, in this ebook we explore:
– The huge opportunity for selling online to international customers
– The benefits of engaging an international payments specialist for currency exchange
Why banks are not the best currency exchange option for your business
The different ways an international payments specialist can boost your profit ability
And to find out more about OFX, check them out in the Tamebay Guide.
