To contact Ian, email
Specialist currency brokerage Foreign Currency Direct has joined the BAR as a new
Affiliate, bringing with it 20 years’ experience supporting customers moving overseas.
September 2020 Removals & Storage 19
Raising professional standards
The Association made excellent progress on its
training roadmap in 2019, which saw a 300%
increase in the number of delegates attending
BAR training courses compared with the
However, as a result of the unprecedented
circumstances of the Covid-19 pandemic and the
resulting closure of the BAR Training Services for
three months of the year, we anticipate a fall in
training output of around 50% by the end of 2020.
Nevertheless, our aim is to not lose ground from
last year. Prior to lockdown, BAR Training Services
had already begun the rollout of video-based
training materials, and this technology will play
an instrumental role in delivering our training
portfolio to Members while also ensuring the
safety of delegates and their families. For more
information, see the update from Stephen Thorp on
BAR Training Services’ strategic roadmap for 2020
on page 38 of this issue.
Foreign Currency Direct
Cutting the cost of currency exchange
If purchasing or selling property within the UK can be a daunting, complex and
time-consuming process, the prospect of an overseas move is even more intimidating
– not least because of the cost and complexity of large foreign currency exchanges.
It is welcome news, then, that new BAR Affiliate Foreign Currency Direct can help
BAR Members add value to their customers’ experience of moving abroad, thanks to
extensive expertise in international currency exchange.
The story of Foreign Currency Direct begins in 2000, the year its founder questioned
why it should cost so much to transfer money abroad. A drive to shrink these costs led
to the launch of the company, and two decades down the line Foreign Currency Direct
remains committed to adding value for clients buying and selling property abroad.
Now BAR Members can secure competitive exchange rates for their clients by
recommending Foreign Currency Direct, which carries out monthly bank comparison
checks to ensure its rates are always among the lowest. Members can also draw on
currency expertise that is particularly valuable in this period of unsettled markets
resulting from Brexit and Covid-19. Foreign Currency Direct saves its clients time and
ensures peace of mind by keeping them updated with market movements that could
affect their currency exchange.
In 2017 the company began providing services to the removals and storage sector,
leveraging its experience in overseas property purchases to provide the industry with a
proven and trusted partner for currency exchange. As a BAR Affiliate, Foreign Currency
Direct looks forward to working with Member companies and quickly establishing
relationships around the shared values of the Association.
Building strong bridges
Foreign Currency Direct places great importance on strong and trusting relationships,
and BAR Members will certainly be able to endorse Foreign Currency Direct for its
customer-focussed approach. The company assigns each of its clients a dedicated
account manager that has expert currency market knowledge and takes the time to
build relationships that will make buying abroad as cost effective and hassle free as
possible. Combined with its specialist experience in overseas property purchases, this
means the company can add significant value to BAR Members’ customers by liaising
directly on their behalf with notaries, solicitors and receiving banks to obtain
necessary documentation. This can significantly reduce the time and
effort required from clients to complete a property transaction.
Authorised by the Financial Conduct Authority, Foreign Currency Direct is
committed first and foremost to facilitating the currency transactions of its clients
and is therefore an ‘execution-only’ service. This means it does not speculate on
the currency market and that BAR Members can rely on the fact that, when a
client instructs them to perform a currency exchange, Foreign Currency Direct will
immediately carry out the service.
“We pride ourselves on providing exceptional
service to each of our clients and maintaining
high professional standards. We feel that the
values held by the BAR mirror our own, and
we want to work with the best in the industry.
This makes them the perfect partner for us.”
Rob Harold, Head of Affiliate Partnerships,
Foreign Currency Direct
For more information visit www.currencies.co.uk,
email firstname.lastname@example.org or call 01494 787484.