Best Way to Send Business Payments in Foreign Currency

While sending money isn’t as easy as writing an email just yet, the platform we have built at Curexe is pretty close to being that easy.

After Creating Your Account simply log in and click the Transfer Now Button.

In 5 simple steps after transfer now, your transaction will be complete.

1) Enter the Amount and Currencies of the Transaction

 

It’s a pretty straight forward process with us.

There aren’t any hidden fees, no asterisks or fine prints to beware.

Curexe only charges a 1% fee of the total amount sent.

You can either choose how much you need to send, or what most people do: type in how much the person who receives the funds gets.

The other side will populate automatically.

Feel free to use our Compare Rates function to compare our rate with your banks rate.

 

2) Fill in Recipient Information

Fill in this information once and select the business or person from a drop-down menu for every other transaction.

Adding a new recipient is as simple as filling in the information on the recipient information page.

 

3) Fill in Sender Information

Filling in the Sender (Your) information is very straight forward as well, you only have to upload your personal ID once and the system will securely store your data.

 

4) Confirm Order 

 

Confirming the order is as simple as agreeing to our terms and briefly describing a reason for the transaction. Wire Reference is optional.

 

5) Connect To Your Online Bank

 

You will either wire transfer the necessary funds for the transaction to our Curexe Bank account or the much easier option to connect to your online bank.

 

 

After connecting to your online bank the transaction is complete on your end.

In most scenarios the funds will be wired to the destination in 48 hours.

A simple 5 step process that takes about 2 or 3 minutes to complete..

Quite possibly the cheapest way to send money online.

Don’t just take our word for it, we got independently reviewed!

FinancesOnline is one of the fastest growing independent review platforms for B2B, SaaS and financial solution directories.

With over 4,000 reviews and constantly growing, it was exciting to get the FinancesOnline team to review Curexe. Looks like we did well! We won two awards the 2018 Rising Star and Great User Experience.

 

As a bright up and coming company in the hot fintech space, it’s an honour to get this level of recognition from such an authority in the independent review space.

The 2018 Great User Experience Award was a great recognition as well, given that one of the core values when we first built Curexe was to create an elegant and simple user experience!

See the full review here.

 

Sending foreign payments may not be as easy as sending an email just yet, but it’s pretty close.

 

How to Save Money on Currency Exchanges: (CAD and USD)

It can be frustrating trying to find the right money service/tech product that fits your needs. While the business owner’s number of ways to pay and accept funds become more and more complex, the information on comparing the services isn’t as plentiful.

The lack of information can leave people in the market for sending money to bank accounts online with unanswered questions:

“How can I transfer money from card to card? How can I not lose as much money doing foreign exchanges? Is there a way to do bank wires for all my payments?”

The constant theme is that there are only best ways to send money in specific scenarios. The fintech industry has been showing that there is plenty to innovate in the payments space, with all kinds of companies offering a better way to bill or transact paired with a unique use case.

People shouldn’t just shop services constantly, what about the things people can do to save money on currency exchange instantly by leveraging proven tactics?

Our experiments have shown that there are better days of the week to exchange currency to increase savings for your bottom line by as much as $134,058.35!

Exchanging currencies on the date your invoice is due or whenever you feel like it could lead to you missing out on possible savings! Follow our strategies and save.

We analyzed 10 Years Worth of Trading Data to Determine a Formula for Saving on Buying Foreign Currency.

The trends in this data led us to the best days of the week to exchange currencies.

The Idea of the Case

Many of the businesses we service make a payment to a supplier on the 1st business day of each month.

We wanted to find out if there were better times to make these payments based on the daily exchange rate fluctuations.

All data is based on a business that exchanges $100,000 each month.

The impact this study brings for your business is relative to the size of your monthly currency exchanges. All numbers are displayed in Canadian Dollars (CAD).

Here were our findings..

Sending Money WorldWide The Right Way: A Guide to Sending Money Worldwide from Canada

People are more connected now than in any time before. You can message someone half way across the world and in the blink of an eye they’ve received your communication and you can be conversing just as you would be face to face.

Technology has allowed us to become closer and bridge gaps that otherwise would be impossible. This extends way beyond the casual e-mail or sending cherished photos to loved ones, we can also transfer money across vast space and time and in a flash, find it has entered the desired recipients account.

You may find you need to send money overseas to make payments for goods and services, or may be that you’re sending money to a family member as a gift. Whatever the reason, as a Canadian resident you have a wealth of options available to assist with this, but none quite as easy to use and efficient as Curexe.

Foreign exchange fees are a nasty surprise that you may not be aware of, banks usually take 3.5% or upwards as a fee for these transactions, whereas here at Curexe, we charge a small fee of only 1%.

The compiled guide below will assist you in making the right choices with all the relevant information, so read on to find out just how easy it is to send money worldwide from Canada.

Bank of Canada Raises Interest Rates

A few days ago, the Bank of Canada raised their interest rate for the first time in seven years. Their new interest rate is 0.75 percent. The Bank of Canada’s previous interest rate before the hike was 0.50 percent. Interest rates hiked by a quarter.

After the Bank of Canada raised their interest rate, the prices of the Canadian dollar went up as well. The price of the Canadian dollar was up by $0.76 from the average on July 11, 2017.

The rising interest rates didn’t come as a shock to most people. The interest rate hike was expected after senior Bank of Canada officials discussed in speeches and interviews that lower interest rates had done their jobs and that the Canadian economy was doing well.

Bank of Canada governor Stephen Poloz acknowledged that the bank raised their interest rates despite inflation being lower than its target of two percent. He says that the bank thinks that the weakness in inflation is only temporary.

There are more disadvantages compared to advantages when banks raise their interest rates. Not everyone understands what it means, but it’s important to know.

People usually think about mortgages and saving accounts when they hear that interest rates are rising, but mortgages and saving accounts aren’t the only things impacted. Mortgages and saving accounts are the main things that impact the general public.

Individuals can easily compare changes in them by using websites and mortgage calculators to see how it impacts them.

Higher interest rates negatively impact homeowners, business owners, loan takers, the government, the stock market and the economy.

Canadian Startup Success Stories: Slack

It feels strange to use words like “beloved” when describing a workplace communication app. Words like “fanatic” and “superfan” also seem out of place for an application that people use in place of email in the workplace. However, Canadian startup Slack has won the hearts and minds of millions of teams in industries all over North America and around the world. The story of how they came to be a 3 billion dollar company from a failed video game developer is as compelling as any novel or Academy Award winning film. How did this small team of programmers and designers create one of the most widely used and universally adored workplace apps? Let’s go back to their humble beginnings and see what has made Slack one of Canada’s most successful enterprise software companies.

Canadian Importing and Exporting [INFOGRAPHIC]

Canada does a lot of business with a lot of different countries. However, there is one country that does A LOT of trading with Canada… Can you guess which one?

When you take the scope and focus of Canada’s imports, you’ll see that it was 10th in the world in imports, settling in with $405 billion. The country has seen its imports rise at a steady annual rate of 1.4 percent. In 2010, Canada imported around $368 billion, but increased that number all the way to $405 billion 2015…Not bad work for five years!