It can be challenging for companies to know how much they are paying hidden FX costs to their banks in the form of
poor FX rates, because banks do not send invoices to their customers for providing FX services. Rather, banks often
simply apply poor FX rates, which results in significant hidden FX costs. Therefore, companies are often not aware of the
magnitude or even the existence of these hidden FX costs. In addition, banks may not have consistent logic for applying
margins to their FX rates, thus resulting in potentially very different FX pricing for practically identical companies. Banks’
FX margins can also depend greatly on the currency and the tenor of an FX forward. You can contact us to investigate
together how much hidden FX costs you are currently paying to your bank and how much you cut those costs by starting
to use our FX services.
NEOFX helps European companies cut foreign exchange costs by providing better FX rates than banks. Our customers
cut hidden FX costs typically by tens or hundreds of thousands of euros annually. Our proven services are widely used by
exporters and importers across Europe. Our customers’ legal counterparty for our EU regulated secure services is
Currencycloud that was acquired by Visa. To become our customer, partner or employee visit www.neofx.eu and get in touch!