Mairi Manley | 8th June 2012 2:00 PM | http://www.mydailynews.com.au/story/2012/06/08/atlas-rated-best-exchanger/Posted on August 16, 2017
A LOCAL business has taken out the Best Foreign Currency Exchange Provider award at the World Trade Week NSW Import Export Industry Awards held in Sydney last week.
Director of Atlas Currency Exchange, Tweed Heads and Gold Coast, Kylie Ryan-Milroy was presented the award by NSW Deputy Premier and Minister for Trade and Investment, Andrew Stoner MP.
“It’s great to be recognised with this award,” she said.
“It just shows that our customers appreciate the importance of a financial provider being transparent and helping educate people within an industry that historically has not done this.”
Atlas also won the award last year.
Atlas Currency Exchange services clients both nationally and internationally.
Aside from the banks, Atlas Currency Exchange is the only “born and bred” Australian Company that holds an Australian Financial Services Licence authorising it to provide Foreign Exchange Contracts (International TT’s), Global Travel Cards (pre-loaded foreign currency debit cards) and supply all foreign currency cash requirements.
“Atlas’s ability to assist importers, exporters or any businesses or individuals that are required to make or receive payments internationally at exchange rates well below what the bank’s can offer has again made us a popular choice,” said a spokesman for the business.
“With award winning customer service and delivering all products Australia wide, our local business is continuing to grow by serving both small through to large businesses, local and afar.”
Posted on August 16, 2017
At time of writing it’s the day before data releases out of Europe and China and the market is wondering, as always, which way it is going to go.
Australia is heavily exposed to China and tomorrow’s meeting of European leaders has been described as the ‘make or break’ for the Euro.
What does this mean for the Aussie dollar?
I get asked daily: ‘What do you think it is going to do?’ and invariably answer, ‘I couldn’t say. I wish I knew, because I would be a billionaire by now if I could read the market. Like everyone else, we only have hindsight when it comes to currency movement’.
FX providers, brokers and retailers are legally prevented from offering financial advice. Unlike other financial product, FX is a live and wildly fluctuating market where the enormous amount of variables makes it a ‘horse race’ with umpteen starters.
Any retail provider who says ‘buy now’ or ‘wait’ is not being honest with you, as they truly do not know what the market is likely to do and should not represent as if they do.
The best advice you can hope for is the two options I provide to my customers:
1. If you need to travel now, the rate is largely irrelevant. You need it now, exchange it now. But get same-day quotes from providers so at least you are getting the best retail deal on that given day. For example, you specifically ask ‘What will US$2,000 cash cost me in total if I buy it today?’ The answer you get should be inclusive of fees and charges, if any, and in this way you very clearly see the best deal, whoever charges you the least.
2. If you aren’t travelling for a while start ‘stockpiling’ regularly. In this way you can spread your rate risk so no matter what the dollar ‘does’ you have been in the market at the time. Over the next six months until your trip if you buy $1,000 dollars a month you have received both the up and the down in the market and also managed your exchange budget more efficiently. Global Travel Cards with no load, reload or unload fees, that never expire, are a great option here because you are applying funds at the flat rate without the fee distorting the figure and you enjoy locked-in fx when you travel.
If you’re up, up and away at Christmas time we wish you safe travels, happy holidays and an adventurous New Year.
Money matters – it’s yours!
Atlas Currency & Byron Foreign Exchange AFSL #342627
1300 261 090
Winner 2011 Import Export Awards in the category of ‘Foreign Exchange Provider’
Posted on August 16, 2017
We live on a big island, which means everything going in or out must be paid for incurrencies that are not our own. We know the retail crisis vs online boom, mixed with the Aussie dollar highs and global financial woes, has meant ‘the bottom line’ has been shifting wildly lately.
If you’re in import or export you’ve felt this. Your margins have increased (or decreased)as the dollar has maxed out at $1.10c. How can you benefit even more, or damage-control further? Question your IMT provider now.
Focusing on ‘fees’ for International Money Transfers is disingenuous. The real issue is the rate. For example, if you’re an importer regularly settling with a US provider for US$200,000 and your provider quotes (at time of writing) 1.0474 with a fee of $30 you may think ‘that’s the way it is’. You may have been doing business with your current provider for a long time, and are just happy that the Aussie is ‘in your favour’. But there are options, if you can be bothered to look.
Similarly to Aussie Home Loans and building societies saving you money and time off a mortgage, there are foreign exchange specialists for you also.
On the same day you would pay AU$190,979.01 for your US$200k, there’s a local option for AU$188,146.75.
Is 1.5 per cent worth it every week, month or year? How long does it take you to make $2832.26? As with all FX transactions you must‘compare apples’. When buying a car you don’t compare price on different models so, when you’re ready to trade, call your supplier for a quote then another within a two-minute window and you’ll clearly see the savings available. And ask for their Australian Financial Servies Licence Number. If they don’t have one, they’re trading illegally and should be reported to ASIC.
Money Matters… It’s yours!
Yours, Kylie Ryan-Milroy, Director Foreign Exchange Services, Atlas Currency Exchange.
Australian Financial Services Licence 342627.
Office: 1300 261 090
Published in The Byron Shire Echo July 12, 2011 www.echo.net.au