New business tools for cross currency transactions

By Ricardo Chaves [email protected]

Ricardo Chaves is Operations Director of Money Mais, the financial services company based in Almancil. Money Mais is an independent mortgage advisor and provides foreign exchange services in association with Moneycorp, who are one of the UK’s leading foreign exchange and international money transfer providers.

‘Happiness is a positive cash flow’ – Fred Adler

If your business invoices outside of Portugal or sends funds to pay suppliers in the UK or other non-Euro zone countries, you may be interested in new business tools which can help your cash flow.

It is no secret that most small business owners have lost faith in banks and are frustrated at the level of bank charges.

The businesses may have been loyal clients for many years either here or in the UK, but that does not stop banks applying charges to business accounts, and when businesses are dependent on cross currency transactions, bank charges make a significant dent in company profits.

Thankfully, discontent with the banking system has led to alternatives being developed.

A new system has been introduced which provides business clients with a more cost effective and efficient means of managing their funds which also gives them more control.

The system uses the latest technology which offers the same security and protection of funds as standard banking

systems, but with lower charges and better exchange rates when multiple currencies are involved.

These exciting and innovative products are being brought to Portugal, and it is evident that they will benefit businesses whose customer base is both inside and outside the Euro. 

For example:

Your business has clients in the UK who need to send funds to Portugal for your services. You can invoice your clients by email and, by return, they can make payment online without having to go to a bank or post office.

Your client’s settlement is overdue or they have made a late booking which requires immediate payment; you can take the payment by telephone with immediate confirmation.

These new services are available at little or no cost, and will provide immediate benefits to you, your business and your clients. The system will be able to:

• improve your cash flow immediately

• add new income streams

• avoid high bank charges

• reduce administration costs

• hold accounts in multiple currencies

• take payments by

telephone and avoid 2 to 3% commission charges of Unicre and Paypal

• receive funds without delay

• collect the full amount that you have invoiced

• track your transactions in real time

If you’d like to find out how these services could benefit your business, arrange a Money Mais presentation without

obligation. Money Mais will

discuss your business needs confidentially and provide you with a tailor-made solution.

Call us on 211 452 105 to arrange an appointment or email [email protected] for more details.