Small business to-do list: simplify foreign exchange with OFX

Builder’s Book Inc., a small bookstore in California, discovered the value of working with an OFXpert. They found great rates, ease of use, and the gift of more time to focus on their business instead of FX (foreign exchange). Want a currency expert on your team without having to add them to your payroll? Read on to see how our currency experts (we call them OFXperts) could help your business.

Sourcing inventory, building your brand, and paying employees – does this list of responsibilities sound familiar? As a business owner, it’s not uncommon to wear many hats,  but it doesn’t have to be that way when you work with OFX.

It’s a feeling Builder’s Book Inc. was all too familiar with. Having a small team, often things like foreign exchange fell to the bottom of the priority list. As a bookstore that sources mostly trade-focused books from around the world, they are paying their vendors and selling their products in US dollars (USD), but needed help sending those payments to global vendors. Builder’s Book Inc. also employs a website developer abroad, which means they convert their USD into Great British pounds (GBP) to pay them monthly. With many other responsibilities on their plate, foreign exchange (FX) was always last on a long to-do list. Unsurprisingly, the path of least resistance was using their bank to manage their FX needs, so that’s what Amber Jorgensen, Senior Sales Associate at Builder’s Book Inc., did up until recently. “We needed to send money to overseas associates and vendors. We needed a company that could make money transfers in an uncomplicated and speedy manner,” Jorgensen said.

When Jorgensen and the team at Builder’s Book Inc. thought there had to be a better way than their bank, they went searching for a new currency exchange solution that would make paying overseas recipients easier. That’s when they came across OFX. After some quick reading about OFX’s 24/7 customer service, bank-beating rates, and an easy-to-use online platform, the Builder’s team was connected with their dedicated OFXpert, Justin. Justin began by getting to know Jorgensen and the team at Builder’s, and of course understanding more about the business, helping to identify what they needed in an FX partner.

Justin came back with a plan on how OFX could help simplify Builder’s currency exchange needs and reduce bank fees each month when paying their vendors abroad. “OFX is exactly what we need to send money to multiple different locations in a variety of currencies in a short amount of time,” Jorgensen said. Justin and Jorgensen implemented Justin’s plan for Builder’s Book Inc. and the bookstore started saving on international payments right away.

Now, Jorgensen and the team at Builder’s Book Inc. can tick one thing off their to-do list, because their OFXpert, Justin has Builder’s FX needs covered. “Justin is always willing to help with everything that we need. He is friendly and knowledgeable and always able to answer our questions or guide us through a new process,” Jorgensen said.

Like Justin and Builder’s Book Inc., our OFXperts always start by understanding each business’s unique FX needs and finding the best FX solutions for that business. In Builder’s case, it was recurring payments to their associates, managed and tracked by their OFXpert.

While this may seem quite simple, FX can often be riddled with complexities. Our OFXperts have years of experience in the foreign exchange industry and are well-versed in the array of OFX products and services to help all our clients build a simple and effective FX plan, ensuring that we transfer money quickly, securely, and with lower fees.

At OFX we understand that owning a business can be all-consuming, but when you enlist the help of an OFXpert you get the knowledge of an industry expert who is always there to help tick your foreign exchange needs off your to-do list. Interested in working with OFX? Register today.