Currencies Direct: South Africa to Benefit From Forex and Payment Pioneers

Jan 24, 2012, 07:15 ET from Currencies Direct

LONDON, January 24, 2012 /PRNewswire/ --

Currencies Direct have always been market leading innovators in the global payments industry. From small beginnings in the UK in 1996, chairman and founder Mayank Patel took on the banks because he believed consumers needed more choice, better service and access to commercial exchange rates. He offered an opportunity for individuals and small businesses to benefit from considerable savings when transferring money overseas or receiving funds from other countries. The company has maintained faithful to its pioneering origins ever since their inception: combining money-saving international transfers with a personalised service, which allows consumers and businesses alike to utilise tools and services- for instance an online, up-to-date currency converter

This focus has allowed the company to grow exponentially in the increasingly deregulated financial services market, with a turnover of $2bn and offices all over the world including the head office in the City of London and a regional office in Cape Town. 

Currencies Direct, have been delivering specialist FX services to foreign clients investing in South Africa for the past seven years and they have been campaigning for South African residents to have the opportunity to utilise the money-saving expertise of specialist currency exchange providers. Currencies Direct is now a licensed Financial Services Provider (FSP43493) with a mandate from the SA Reserve Bank to facilitate international payments in strict accordance with exchange control regulations. 

"We are really thrilled that we are now able to open our doors to South African residents wanting to transfer funds offshore and can support local business to maximise the value of their Rand in international markets. We will continue to provide the best rates and no fees to all our clients and our service standards will be benchmarked to the same excellent international standards with which our brand has become synonymous," says SA Business Director, Jill Wilmans.

While they have strong international links, particularly with the UK, the team in Cape Town are South Africans with in-depth experience in financial services and a clear understanding of the regulatory environment.

About us

Currencies Direct with more than $2bn annual turnover is one of Europe's leading non-bank providers of international payment services. Since its formation in 1996 Currencies Direct has maintained its focus on being an innovative service provider of foreign exchange transfers for consumers and high net worth individuals with an extensive client base of 200, 000. The company has also expanded its services to provide dynamic and pioneering 'business to business' solutions to help companies, tier 2/3 banks and other non-bank financial institutions process their international payments.

Media contact:

Name: Amy Barson | Email: | +44(0)20-7847-92-46 | Address: 51 Moorgate, London, EC2R 6BH, United Kingdom

SOURCE Currencies Direct