freemarket: our New Year’s resolutions!

By on January 3rd, 2017 in Editorial

Perhaps someone outside a tube station thrust a flyer featuring an ab-encrusted lunkhead into your hands this morning, hoping to panic you into joining a gym. Perhaps one-too-many gin and tonics on NYE smeared the beauty of the world’s fireworks into a nauseating blur, and you’ve decided never to have another gin and tonic again. Or maybe someone looking you up and down appreciatively outside the pub turned away disappointedly when they saw you light a cigarette.

It’s tempting to get drawn into the hype and decide it’s time for a drastic change to take place because of the passing of an arbitrary unit of time. But surely it would be better to make these decisions for your own sake, rather than under the dictatorial glare of an oppressive calendar?

That’s why we’ve decided to look at 2017 positively. Why not take the New Year as an opportunity to look at what you’re already doing well, and promise to continue doing it well – if not even better?

In that spirit, we present you with our New Year’s resolutions – those things we nailed in 2016, and will continue to nail throughout 2017. (N.B. most of them relate to international payments and currency exchanges.)

Nailed it.

We charged the extremely low rate of 0.2% on every single international payment and currency exchange we executed last year, regardless of the client or the size of the transaction.

We have been and will continue to be utterly transparent with our customers, dedicating ourselves to a level of fairness that benefits our SME customers as much as it benefits larger businesses.

In fact the only people we don’t charge a 0.2% fee are registered charities, who can use our services at the staggeringly low rate of 0.0% – otherwise known as free.

Smashed it out the park.

We pride ourselves on offering the fastest currency exchanges and international payments possible, and have absolutely no plans to slow down during the New Year.

While big banks like HSBC can take up to two weeks to execute a transaction, we offer same-day delivery of funds on all major currencies. And you needn’t worry about going through the rigmarole of endless phone calls with banks and brokers trying to find out what has happened to your money; because of our lean business model you can just ring us up and we’ll give you a straight answer almost instantly.

Crushed it like the world’s strongest accordion player.

With our extremely easy-to-use online platform and peer-to-peer technology, we are able to offer all of our customers access to mid-market rates.

Basically, we have eliminated the maddening need to spend hours shopping around for the best deal and negotiating prices with a plethora of banks, brokers and currency suppliers – the majority of whom are being far less transparent about their fees and rates than we are.

More than anything, our resolution is to try as hard as possible to make 2017 a year of greater fairness and transparency for the countless SMEs who lost money (to the tune of £4.1bn!) on their currency transactions in 2016.

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James is freemarket’s Chief Commercial Officer. He has a history of finding new ways to solve age-old financial challenges and was responsible for launching some of the first online money transfer and prepaid card initiatives in Europe.

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