Biggest challenges facing Travel Companies and Tour Operators
Easily Making Worldwide Payments and Finding Exotic Currencies
Looking to buy Moroccan Dirham? The Thai Baht? Some French Polynesian Francs? We have access to more currencies than any other provider. Because of our established global banking network, transferring money across borders won’t cause a world of headache.
Predicting Future Foreign Currency Rates
Every holiday planner contends with shifting foreign exchange rates. British tour organizations have dealt with a fluctuating pound since the unexpected Brexit vote. The currency has yet to return to its original value. More than 1 out of every 3 travellers book their vacation more than 5 months in advance*. While this is beneficial in terms of filling packages and advanced planning for tours, it leaves a significant time gap between money collection and vendor payout. In the span of a few months a foreign currency can fluctuate considerably, leaving a tourism company with a big cash flow problem.
- If a collection of globetrotters paid for an upcoming adventure down under to Sydney at the end of May 2017 in USD, the American dollar would have been enjoying a better-than-average rate against the Australian currency.
- Fast forward a few months to the September departure when the Aussie dollar rose 9** cents against the USD.
- During the course of the tour, the travel company would have to pay out the local guides, but their allocated funds would be worth less.
- A May 2017 payment of $10k USD would equal $13,455.01 AUD
- 4 months later, the same $10k would be worth almost $1,000 less in AUD
You can lock-in exchange rates for up to one year via our flexible Forward Contracts, helping you eliminate uncertainty and empowering you for optimal budget management.
Sending Emergency Cash Overseas
All industry professionals know that you can’t plan for evert scenarios. Despite every precaution, tours and vacations will sometimes face cancelled flights, weather detours and unexpected expenses. The ability to transfer local currency quickly and efficiently to personnel on the ground can mean the difference between a small inconvenience and a ruined vacation. Luckily, we have agent locations everywhere, ready to securely transfer funds to your employees. In fact, we have nearly 10x more locations than Starbucks™ and McDonald’s™ combined.
Free Health Check on your Foreign Exchange Exposure
Our currency specialists will evaluate your international payments to determine strategies for cost-savings and efficiency.
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