Leading international manufacturer and supplier of fire safety equipment Reacton Fire Suppression, now better service their clients and employees by offering Xchange Capital solutions.
Xchange Capital provide Reacton Fire Suppression with currency accounts, 24 hour foreign exchange trading and global payment facilities to assist with their growing multi-currency exposure. This allows them to receive customer payments, pay suppliers and manage office overheads and outgoings using the integrated system XCAP Online.
Kim Treamer, Head of Finance at Reacton commented “We use XCAP Online every day, its simple to use and acts just like a normal bank account. We pay our staff, office rents and suppliers abroad which means we only have to log into one platform rather than having multiple International bank accounts to manage. I love the fact that I receive an automated notification every time a payment is made or received and consolidating the accounts is easy.”
With offices in the UK, USA and UAE, Reacton now provide global coverage of its services. This increased presence has strengthened the requirement for an advanced finance solution. Reacton are now achieving better rates of exchange and faster transactions allowing them to make payments at short notice in multiple currencies with fast same day settlement into their currency accounts.
They have individual currency accounts for US Dollars, Swedish Krona, Euros and United Arab Emirates Dirham which can be domiciled in the United Kingdom or overseas. This allows their customers to pay them domestically and in their local currency so they know exactly what they are paying from the outset and the price of goods will not change with currency fluctuations, a valuable USP when tendering for contracts.
Edward Barnes, CTO at Reacton commented, “The currency accounts have simplified the way we trade abroad and has saved us thousands of pounds in fees. By trading between currencies rather than transferring from one currency account to another we are saving as much as 4% of the entire transaction and the currency accounts only take 24 hours to set up.”
For further information on how to open an XCAP account or to discuss how Xchange Capital can benefit you or your business, please visit our Open Account page or call or email us on +44 (0) 207 117 1700, email@example.com.
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