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..

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)

How can I minimize my losses and even strategically gain on Foreign Currency Exchange?

Statistics in our article 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 Money

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 payments 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!

Canadian Startup Success Stories: Hootsuite

As part of our new series about Canadian Startups, today we are going to take a look at social media client creator Hootsuite. In an era where most apps that manage social media accounts have faded into mobile history, Hootsuite crossed the 2 million user mark within their first three years. Their continued success and longevity in a volatile market can be attributed to their iron-clad commitment to standing by a an ideal until it becomes reality. It has achieved on-par status with numerous other tech giants thanks to their software-as-service/free-to-premium strategy.

While their heavyweight competitors like Evernote and Dropbox are also still on the rise well past their two million user milestone, Hootsuite has still showed no signs of slowing even in the face of such fierce competition. Their secret sauce for growth is an amalgam of international expansion, community building, and targeted outreach for crowd-sourced multi-language support.

How did this small Canadian mobile software developer achieve their current success so rapidly though? What is the story behind the rise to stardom? Here is a rundown.