Currencies Direct Offering US Dollar Accounts

Foreign exchange company Currencies Direct can now provide online retailers in the UK with a US dollar denominated bank account.

The account can be used to collect sales income in US dollars and transfer it into UK pounds at a favourable rate, providing a saving of up to 3% of sales – compared to the rates available from Amazon and PayPal.

Phil McHugh, Currencies Direct trading floor manager explains: "Whereas in early July sterling was trading at 58p to the dollar, this has now risen to a near-18-month high of 66p. British e-tailers selling to the US in dollars are now finding that they're getting substantially more bang for their bucks. It's therefore important that they make the most of their improved margins and don't see it eroded by commission and fees when transferring their earnings".

Currencies Direct also offers euro and Sterling accounts for online sellers and has recently created a new ecommerce section on their website.

Source: Tamebay

Tagged: Accounting
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