Case Studies

The following case studies are based on real transactions made by our clients, although their names have been altered to maintain confidentiality.

Case Study - Corporate Client

David is a London-based importer who needs to purchase US$120,000 for British Pounds to pay for goods bought from his Chinese supplier.

David contacted his UK bank for a quote and received a GBP/USD exchange rate of 1.5710, which would result in a Pound Sterling cost of £76,384.46 for the US$120,000. His bank would have also charged him a £15 fee.

David then contacted UKForex and was quoted a GBP/USD rate of 1.5920 for him to buy US$120,000. This resulted in a cost of £75,376.88, without any fees.

David saved: £1,007.58 on the rate 
£15 on the fee
£1,022.58 TOTAL 

Case Study - Private Client

Dennis sold his house in the UK for £400,000 as he was moving to Australia. He also needed to convert his Pounds Sterling into the equivalent amount of Australian Dollars.

Dennis contacted his UK bank and was quoted a GBP/AUD rate of 1.5875 to sell his £400,000 and purchase Australian Dollars. This meant he would only receive A$635,000, and the bank would have also charged him a £30 fee (A$48).

Dennis then contacted UKForex and was quoted a GBP/AUD rate of 1.6075 for him to sell his £400,000 for Australian Dollars. Dealing on this quote meant Dennis received A$643,000 and had no fee to pay.

Dennis saved: A$8,000 on the rate 
A$48 on the fee 
A$8,048 TOTAL 

 

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