During the 17th Annual SCN International Conference, we talked with José Cortés from Overseas & Trade Logística Internacional (Madrid) about their experience with one of our Partners: Currencies Direct. That’s what he says about the months experience working with them:
“I have spoken about this to some members during the Lisbon Conference.
We are working with them since more than 14 months ago. The beginnings are a bit difficult, until you open all the data on Currencies Direct site, but then everything goes perfectly.
It is being very positive for us. You can order payments to different recipients in various currencies. The exchange parity calculation is done automatically and you only have to make a remittance to the account and Currencies Direct. As soon as the funds are credited at their account, normally the next day, they proceed with the payments automatically. to each recipient.
In this way we are saving additional costs with our Bank and the costs of issuing each transfer, since our Bank charged to us for each swift issued.
I have followed up with the recipients and the payments are received faster than with the normal Commercial Banking way, and the payments have been received without problem and without cost for them.
It is my advice that it may be interesting for other SCN Members to work in this way on the International payments to other Members or to other International Partners.
If any of our members need any additional explanation, do not hesitate to contact me.”
Phone: +34-660 470550