One very satisfied customer in volatile markets

By on July 11th, 2016 in Editorial

Around a month ago (with the EU referendum fast approaching) Dale was very wisely concerned about what would happen to the value of the pound after the results came in – whichever way the vote went.

“Dale was looking for a service that had low, transparent rates and no hidden fees”

Three weeks before the nation went to the polls, Dale came to freemarket. He wanted to put his mind at ease and protect his future investment against any potential volatility in the currency markets. He wanted to change a significant sum of sterling for euros, as there was no telling what might happen to the exchange rate.

Like many people and businesses, Dale was looking for a service that had low, transparent rates and no hidden fees. “I’ve had some bad experiences exchanging currency with banks in the past – mainly due to being overcharged,” says Dale. So he rang our ineffably friendly account manager, Rhodri Huish.

“I spoke to him for quite some time and he helped me figure out how to make the most out of what I had and was looking to exchange. Rhodri was a true gentleman – one day he was returning from hospital and still managed to answer all my questions in a way I could understand.”

“Dale saved £200 on his foreign payment fees”

Dale quickly realised that freemarket is much cheaper than many other exchange service companies (his words, not ours!), and Dale saved £200 on his foreign payment fees by trading with us. He used the money to buy his daughter a new bicycle.

Rhodri was impressed by Dale, too. “He was spot on, as it happens. The pound has collapsed to a 31-year low since then.” Ultimately, Dale ended up saving a lot more than the initial £200 he saved on FX fees; he also narrowly avoided having 10% of his sterling’s value wiped out by turning it into euros.

It’s no wonder that Dale has decided he “will definitely use freemarket again,” and we literally did not have to prompt him to say this.

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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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