Hi Will, thanks for chatting with LWA, tell us a little bit about you, what you do and who for?
Hi Phil, it’s a pleasure.
I work in the Business Development and Partnerships team at Tor Currency Exchange, one of the UK’s largest and leading foreign exchange brokers.
As a company we assist thousands of people every year to transfer funds internationally, saving them significant sums on the rates offered by the banks.
Within the Business Development Team, we help people and organisations with their FX services. So whether you’re a Visa Agent, a Relocation Company, an IFA, an International Property Broker or a private individual; if you have clients with a requirement to send funds overseas then we will look to develop a strategic partnership with you, enabling you to add Foreign Exchange to your portfolio of services and work with TorFX to help your clients save money on their international currency transfers.
Great, so from working with TorFx, what do you see as the primary challenge for people needing foreign exchange?
Understanding the rates on offer and that there are other options to using your bank. Over 80% of people with a need to send funds overseas still use the traditional banking method, unaware that the rates offered will be notably worse than through a Foreign Exchange Broker like TorFX. Not only this but the banks also levy transfer fees and commission charges, which you will not see with a Currency Broker.
From talking to clients, I have found that most people believe that an exchange rate is the same from bank to bank. This is definitely not the case, and as with any product available for retail you can shop around for the best deal.
So, what would be your top tip for forex exchanges?
The timing of a transaction is crucial, as rates can vary as much as 3-4% in a single day depending on different factors which affect the currency markets. It is also essential to get expert guidance from a reputable source to minimise the risk of losing out to poor exchange rates.
How does TorFx work with your top tip in mind?
Every client who registers with TorFX is assigned their own personal account manager. Their job is to get to know the client personally, to understand their requirements and be there with them every step of the way. They will provide expertise and guidance on the currency markets, advising on possible solutions to maximise the client’s funds.
There are a number of options to assist with timing, along with a forward contract. This is where we can fix a favourable rate up to 2 years in advance, allowing the client to budget for their future transaction.
Looking at communities who could benefit from working with TorFx. What can you offer 3rd party websites?
We have a number of marketing tools available to maximise our partnership opportunities, including online currency tools and converters, targeted banners and also unique content written by our in-house currency analysts and content writers.
Not only will we be providing 3rd parties with the ability to save their clients money, but we will also return a commission on each referred client who goes on to trade with TorFX.
How easy is it for a 3rd party website to connect their webpages with TorFx?
This is a very simple process Phil, we have an affiliate portal online with all tools and banners available. We provide our partners with a unique reference and a dedicated landing page which tracks all referrals. The landing page can be linked to; from content, images, logos or banner ads. We can also provide data capture forms which can be used in iframes and placed directly on 3rd party websites.
Do you have any great examples of 3rd party sites linking up with TorFx?
Expatica is one of the world’s largest international online communities, providing tailored news service and essential information on working, living and moving internationally. TorFX provide them with a dedicated currency zone, along with up to date market analysis.
This is a great example and is proving to be very useful for Expatica’s visitors – you can check out the currency zone here: Expatica Currency Zone
Is there a particular type of website that performs best with TorFx?
Any website that may see traffic from people looking to make international money transfers. Expat forums for example are a great way for us to provide expert guidance to the expat community through third parties, educating people living and working abroad on how to save money on their transfers.
Company websites of Visa Agents, Relocation Companies and Estate Agents with overseas property also offer a very good platform for us to work in partnership.
There is no obligation to the number of referrals, nor is the list above exhaustive – it is worth considering an affiliate partnership should you have any number of visitors with a foreign currency requirement.
How can interested websites contact you Will?
Please fill in your details and I’ll be in touch right away!
Thanks for your time today Will, it has been great to hear how TorFX is helping shape the foreign exchange landscape.