Why Dealer Transparency Is Key When Making a Foreign Exchange Deal

When looking to make an exchange or payment worth hundreds of thousands of pounds, there is no doubt that transparency should be everything when it comes down to your chosen broker or exchange company.

After you have registered with a larger foreign exchange provider, the usual process is for one of their dealers to ring up and negotiate a transaction over the phone.

Without actually seeing the figures and rates at hand however, this can get confusing, and you may not actually be getting the best deal.

In fact, some brokers even calculate their rates on the status of the customer, meaning that depending on who you are, or how big your business is, you may be paying more than others.

Companies such as www.4xcurrency.com calculate their rates as a percentage away from the inter-bank rate and according to the size of the trade; so that everyone gets the same exchange rate.

Choosing the right broker is therefore imperative if you are looking to save your business as much money as possible.

Ideally, you should be able to see the exchange rate on a computer screen before you make a deal, so you can compare the price you receive with other providers. Often this will be streamed to your computer via the broker’s exchange system.

If it is done correctly, this means that you should be able to view currency rates in the exact same manner as large corporations and foreign exchange traders; allowing you to make the right payment at the right time, with maximum ease and security.

In addition to this, some brokers even back up their deals so that you will always get the agreed amount of foreign currency at the time of when the deal is made. This is bonding, even if the rate of exchange changes overnight or when the transaction is fully complete.

But what about bank exchanges?

Though bank exchanges offer great security, the truth is that the primary business of a bank is not in foreign exchange, so you shall probably be given a lesser rate and charged for the exchange that you are about to make. In fact, some banks impose fees of up to £30 - £40 per exchange.

Not only that, but if you go with a specialised broker, it is far more likely that they will spend the time and effort into making sure that their clients are given the best rates possible.

Though transparency can vary between individual banks, it is generally held that they do offer a good level of clarity when making an exchange, even if the bank charges more than a broker.

Traveling in Times of Crisis

Travel Guides (Photo credit: Vanessa (EY))

During the period of financial crisis traveling is not easy and that is not good for many countries in which the tourism sector, is one of the most important. People still want to travel but are more reluctant to do so because of the current crisis hitting Europe in general and more particularly countries like Portugal, Italy and of course Spain. Of course this crisis causes problems to all over the world or it will in the near future.

Due to the current situation there have been many questions tourists have made, such as whether to save rather than traveling or is it better not to travel at all as this usually involves excessive spending on many occasions.

There are many deals on offer in travel agencies and wrapped packages made to consume, but this is not to everyone's liking, since more and more tourists like to choose what type of accommodation, flights, dates or days will travel. So there have been many alternatives to travel in order to save more. One could point out a way to move between neighboring countries or within the same country, for those who like to travel by car but not wishing to have the option to share car. This medium is unknown for many but very effective and very safe also, you pay a price per trip, depending on the length of it and there is no concern.

For trips where the destination is not so close, we all know the famous company Ryanair which is cheap and with a multitude of destinations. Make you sure you have an international travel insurance that covers all your needs and pocket. What is left to do is choosing accommodation and for that there are many deals if you are looking for an alternative to standard hotels and usually the price does not reference quality. To find a property to the desired extent you can do your research online where you can find different types of accommodation such as a room in a shared flat, an apartment or an entire house, as well as Bed and Breakfast, hotel-like accommodation with basic facilities for sleeping and breakfast.

With all the alternative media that exist today is hard to resist making a vacation or a trip without having to spend a large portion of the payroll. Thanks to these new ideas materialized in companies, we can save enjoying the pleasure of traveling.

Make Extra Money By Renting Out Your Static Caravan

English: The caravan park at Pease Bay A high quality static caravan holiday home park in a secluded bay. (Photo credit: Wikipedia)

From the early day of the package holiday, we all loved to save up and get away from it all on our “two weeks in the sun”. But against the background of the credit crunch and recent economic woes the financial landscape has changed and many of us simply can’t afford to holiday abroad any more.

Despite the unpredictability of our British summer, the undeniable cash savings of holidaying in the UK have driven a massive growth in the “staycation”.

A large chunk of this new holiday market is based around static caravans, usually a cheaper option than staying in a hotel or renting a house. With the added attraction for holiday makers, that the holiday parks the caravans are on usually have entertainment and facilities to hand right there.

Suddenly things look more and more attractive for static owner to start or increase the time that they rent out their caravan. As popularity is growing the financial benefits of renting out your static move from a way to try to offset the costs of your family holiday home, to a reasonable way to actually make some money from what can actually be a relatively low upfront cost.

Obviously for an owner moving into rental for the first time can be a little daunting. Although they will be used to the various site fees associated with static ownership, renting to others can throw up new issues and costs, such as specific rental insurance and regular gas and electrical safety checks.

There are a growing number of websites and forums where owners and potential owners can find information and advice, but a great starting point is the National Association of Caravan Owners website. You can find plenty of advice and information about costs and issues around the ownership and renting out. In particular you will want to look into insurance issues and they can help with quotes for that.

Borne out of a need for some kind of group or association representing the caravan owners themselves when dealing with park owners or manufacturers, the National Association of Caravan Owners are can provide support, information and even legal advice where required.

The obvious way to rent out your static, especially on some of the larger big company owned sites, is to rent via the park owners themselves. Obviously the services the parks provide and of course the charges they make (often they just take their cut from the payment the holiday makers make direct to them) vary and its essential to read any rental contracts before you sign and ensure you understand the costs and responsibilities on either side. This is an easy and reasonably hassle free way to rent, but is usually the most expensive method you can use.

In order to maximise your income you may decide to take on the role yourself and deal with all the renting and booking issues directly. With the advent of forums and websites it is now easier than ever to get set up online and start to make extra money from your caravan.