The value of choice, control & transparency

By Nicolas Steiger

International money transfer services and banks around the world continue to trap consumers with opaque and overpriced exchange rates.

For too long the foreign exchange industry has profited in the shadows. It has never served the remitters’ best interests to provide transparency to their customers. Like a puppet being manipulated by the puppeteers’ strings, the banking industry has confined customers to an expensive service model with no options. No control.

Fortunately, that’s changing. Check out FlashFX.

Our platform is an enhanced international remittance application that helps consumers move funds more rapidly, autonomously and less expensively than the traditional correspondent bank mechanisms of the past.

FlashFX leverages the power of Ripple’s payment protocol technology, while enabling consumers to personalize their foreign exchange rates.

Indeed, we empower our consumers with the most valuable asset: control.

Whether you are an FX novice, a specialist or just need your funds to reach their recipient as soon as possible, FlashFX can accommodate your specific remittance needs. We give control back to our clients in three groundbreaking ways:

  1. tracking of funds in real-time
  2. choice of when & how you exchange currency and
  3. complete fee transparency.

Let’s explore the benefits of control.

Money Tracking

In the shadow game of international wire remittances, funds rarely travel a straight path from point A to point B. Instead, the senders’ money travels a labyrinthine route through multiple correspondent banks, all skimming a fee along the way.

Additionally, international transactions inherently take longer to settle (days at a time). But the transaction can be further delayed if the bank has weak correspondent relationships in the recipient country. Meanwhile, the customer is left in the dark as their funds literally bounce around the world.

FlashFX shatters this convention by providing logistical transparency every step of the way. With an unique order-tracking function, FlashFX users can monitor their flow of funds with the same ease they could track a parcel through the mail. This feature enables our customers to transact with more security and control. Also, because FlashFX integrates Ripple’s payment protocol technology, all transactions settle in a day or two at most.

Through FlashFX, the user achieves better peace of mind knowing exactly where their money is, where it’s going and that it will reach the recipient faster.

Rate Personalization

Unlike banks and other remitters, FlashFX empowers consumers to select their preferred rate. Money senders can choose between a more favorable prevailing rate, a time-specific conversion date, or enter a limit order, which converts currencies when they reach their desired exchange rate.

Whether you have an emergency need to wire funds to a loved one, anticipate a more favorable conversion rate or a specific date or have been watching the FOREX markets and think your exchange rate will reach a more attractive level, the benefit of control is clear.

The new universe of wire transfer alternatives offered by Flash FX empowers money senders with a level of personalization that the establishment has deliberately neglected. Now, the consumer controls the fate of their funds.

Fee Transparency

This last benefit is the equivalent of blasphemy to the traditional consumer FX providers. That's where traditional foreign exchange retailers make their money. On top of the standard $30 dollar transaction fee that these operations charge, a myriad of hidden fees are included in the rates offered to their customers. The average bank charges over 5% on the entire transaction amount.

That’s an additional 5% on every dollar sent… Let that sink in for a second.

These high fees are the product of customer funds flowing through an arbitrary and complex web of correspondent banks before they arrive in the recipient account. From a consumer experience perspective, this process makes no sense. In fact, it’s pure graft.

FlashFX changes all of that.

The FlashFX platform provides complete transparency about the cost and logistics of every wire transfer and currency conversion. We are upfront about every fee included in our spreads. FlashFX pulls no punches. We give the user full control and full transparency over every dollar they spend when sending money.

FlashFX is a money transfer service that puts customers first. Now, that’s refreshing.

FlashFX empowers remittance consumers with the ability to personalize transactions. The power of personalization enables consumers of all stripes to maximize the value of their money. From emergencies to strategic business or personal international currency maneuvers, we are signaling an end to old legacy transfer models.

Thanks to Flash FX, the consumer is finally in the driver’s seat. That’s the value of control.

You’ve given away enough money, so let's get started and signup.

Tagged in: currency conversion, digital currency, global payments, international money transfers

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