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How PDQFX Works?
Currency transfers can be made in different ways depending on whether the payment is to be a regular payment or a one-off transfer.
Regular payments
You set up an instruction with your bank or funds provider (your money can be sent directly from an employer or pension provider for example).
For Sterling payments, we can collect from your UK bank account via Direct Debit.
This allows payments to be made to us automatically and without the need to do anything else in future.
You choose the amount to be converted, the frequency and where it is to go. You have the choice of fixing your exchange rates in advance or receiving the prevailing rate at the time that your funds are received by PDQFX.
There are no transfer charges for regular payments meaning that on average you save around £250-£300 a year compared to making monthly payments through a bank, plus a saving of up to 5% on the exchange rate itself.
Fixed payment plan
You know exactly how much you will receive for as long as you have fixed your payments. For example, you might like the idea of knowing how much your euro mortgage will cost for next 12 months, or how much income you will receive from your work or pension.
Gives peace of mind in uncertain times. Once your exchange rate is agreed, this is the rate that you will receive each time, even if underlying exchange rates drop in the future (of course, you might miss out if they go up!)
Floating rate payments
You might not want to fix rates at what you consider to be poor levels and miss out on a potential improvement
Ideal if you want the flexibility of not being committed to a longer-term arrangement
Single transfers
The exchange rate is agreed with PDQFX, then your funds must be transferred from a bank account directly to PDQFX via electronic banking (Faster Payment Service, BACS, CHAPs, TT, SWIFT etc) please note that no cash or cheques will be accepted.
You can enter the beneficiary details via the Client Area or alternatively, we can enter them for you. Beneficiary details are stored securely so they only need to be entered once.
Your currency payment is released as soon as your funds arrive in our Client Account ensuring the fastest possible delivery times.
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