Good morning, I wanted to share a recent story with you, to show what a difference an exchange rate can make, and why using a specialist can really save your clients serious money. I've recently been able to a friend who has sold their house in Australia and is moving to the US to take up a new business opportunity. They engaged me several months ago with the scenario, a house sale Australia, and a purchase of a new house in the USA. The house in the USA is going to cost approx. $1m USD plus legals etc. A big purchase and a huge variance in the AUD cost depending on the exchange rate, to give you an example of AUD figures using different exchange rates, even though the rates don't seem to far apart sometimes, the final dollar figures can be very different. BUY USD $1,000,000 @.7750 - $1,290,322.58 AUD @.7700 - $1,298,701.30 AUD @.7650 - $1,307,189.54 AUD @.7600 - $1,315,789.47 AUD @.7500 - $1,333,333.33 AUD As you can see, the difference per 1c is approx $16-17K AUD, a massive difference when moving large sums of money, so the timing is very important. We spoke and watched rates daily for weeks and finally booked a deal at 6:20am, this is something that you can't do with you bank as they are not open, a benefit of working with CB3 is that I can assist at anytime of day, we caught the high of the day and saved them over $40,000 AUD compared to the bank rates. A fantastic result for the client. From this result, I've been lucky enough to have two new introductions to business colleagues to look over their current processes and see if there is anyway that I can assist. CB3 are able to offer a range of services including:
Access to 140 currencies
Spot Contracts
Forward Contracts
Hedging tools
24/7 - Online platform with large limits
International bank accounts in 35 countries
Mass payments (overseas payroll)
If you feel that I could potentially assist any of your clients with the above, please get in touch and I'd be happy to provide a free consultation, understand their requirements to see how we can best help them moving forward. I hope that you found this helpful, and please reach out if I can assist at all. Chris