In my early days in FX, back in 2015 I was helping a couple move $1.1m AUD to NZD. They had sold a house in Sydney and were moving back to New Zealand. I must admit, this was a nervous moment, we had shared several calls back and forth had build up a strong relationship, however when the time came to arrange the transfer, it also came with the feeling of sweaty palms, and a worried feeling that I didn’t want to do anything wrong.
Until this point I’d dealt mainly with $5K to $100K transfers, and was still learning the ropes and processes. I was comfortable enough with the process, and even though it was just some extra zero's on my screen, the volume did make me nervy!
I didn't show it to the client, I just acted like I done this type of thing everyday, no need for concern, looking back now this was the moment when it all clicked, the reason why FX companies were in business, the understanding that you were really saving clients real money, and the satisfaction of being able to pass that feeling on to the client.
I was going to help them gain them approx. $30,800 NZD in their account on the other end, surely not….. I had to check it 3 or 4 times, then I got someone else to check it! Yes, indeed the difference between our rates and the bank was approx 2.5% ($28,000 AUD) WHAT!!!! How does that work, I was happy, shocked, still shaking, and nervously laughing, did I just do that ?
It all went well, the money arrived quickly and safely and that helped me feel super confident and happy with the service that we offered and how much money the banks were making from clients!