Maximise your next overseas purchase or sale with the market-leaders

Published: 6th November 2020

Show me the money:
Looking out at the post – covid playing field, why currency exchange matters more than ever.

 

The recent pandemic has had a massive impact on everyone who works globally – from businesses and high net worth individuals to celebrities, professional athletes and international sporting clubs. This has been compounded by the double blow of Brexit and a decline in Sterling, all culminating in increased costs and huge losses across the board. 

 

As the global economy continues to contract, exchange rate fluctuations are costing the world’s elite enormous sums of money, including extravagant fees paid to banks for changing currency. And with the virtual rollercoaster of market fluctuations that his happening right now, managing foreign exchange risk is more important than ever. 

 

“It’s more than simple online money transfers, that’s the easy bit – in today’s climate it’s imperative to develop a strong currency strategy,” 

says Matthew Clarke, Commercial Director & Founder at Privalgo. 

 

Our founders saw a gap in the market for better tech and more transparency across the industry, and that’s why we created Privalgo. We help all of our clients, including some world famous athletes, to save both time and money – so that they can let go of the worry and focus on winning.” 

 

Indeed, of all the businesses and industries around the globe – the world of sports is one of the most significant when it comes to currency exchange; each and every day, organisation and athletes transfer money around the world. Whether it’s purchasing a foreign player or importing merchandise, or sending money home– if you want to protect yourself, it’s essential to monitor and manage the risks associated with exchange rate volatility. 

 

Not only that, but professional athletes competing internationally are often faced with a host of foreign earning issues, ranging from varying exchange rates to differing rules for currency accounts and complicated tax implications. So, while the world marvels at their first-class sporting skills on the pitch, there is significant activity going on behind the scenes to manage risk and make sure that these highly trained athletes maximise every last penny of their time-sensitive, lucrative and globe-trotting careers. Offering better tech, greater transparency and with extensive industry experience –Privalgo is the market leader. 

 

“We work on a daily basis with high net worth individuals and sports stars from around the world- everything from helping a Formula One driver buy a second home abroad, and a Premier League Footballer send money home to his parents, to helping an Olympic athlete convert funds from a global sponsor, or enabling one of golf’s rising stars to change his prizewinnings into his home currency.” 

says Matthew Clarke. 

 

Focused on saving both time and money, Privalgo will organise funds to be converted and credited to a nominated bank account, at lower costs and when the exchange rate is at its absolute best. Just like the athletes they work with, the team at Privalgo are highly competitive, and work relentlessly to beat back competition and secure the best possible rates. And when it comes to fees, there is no game playing. Everything Privalgo does happens in real time, with complete openness and clarity; without the murky layer of fees found at other FX exchange companies. Working seamlessly to create and optimise currency strategy, Privalgo minimises exchange rate risk and reduces the cost of trading internationally. Their global payments marketplace enables their elite clientele to trade in 50+ currencies, with 24/7 trading and a digital conversion platform packed with free currency risk management tools. 

 

No two situations are exactly alike – which is why all solutions are bespoke – each client at Privalgo is assigned a dedicated Relationship Manager. He or she will offer one-to-one personal support keeping you abreast of upcoming economic data and trends you need to know about. 

 

After all, the money made by the sports men and women isn’t gifted. It’s earned. It comes from every early morning workout and every early night of rest, to countless hours of practice, and years of sweat, pain and sometimes tears. It’s essential to find the right partner to help you hold on to it. 

 

In the world of sports, a player’s reputation is built on skill, performance and professionalism; and it’s the very same with the team at Privalgo. 

 

Let Privalgo become part of your team today. 

 

B O A T  C A S E  S T U D Y 

A UK based client is looking to purchase their dream yacht out of the Caribbean for USD $4,200,000. The yacht broker has an FX provider that can assist with the purchase, although they decide to get another quote via Privalgo. 

Boat Purchase Price  $4,200,000 
Bank Exchange Rate  1.2967 
Cost Using Bank  £3,238,991 
Privalgo Exchange Rate  1.3233 
Cost Using Privalgo  £3,173,883 

 

 

P R O P E R T Y  C A S E  S T U D Y 

A client recently sold their luxury beach front Villa in Marbella for €10,200,000.00. After receiving a quote from a traditional banking provider they decided to get a quote from Privalgo. 

A fintech that combine market-leading technology and talent, to achieve the best exchange rate with unrivalled service for the High-net-worth individual clients. 

 

Sale Price  €10,200,000 
Bank Exchange Rate  1.0922 
Cost Using Bank  £9,339,119 
Privalgo Exchange  1.1173 
Cost Using Privalgo  £9,129,150 
PRIVALGO SAVINGS £209,969