Explore how one small business learned that not all foreign exchange providers are created equal. SweetMonk’s co-founder, Nicole Benes, sat down with us here at OFX to discuss the trust and reliability that makes OFX a quick, seamless, and reliable currency exchange partner for her small business.
A sweet new business
Nicole Benes and co-founder, Kelsey Gemmill, created SweetMonk in 2017 with one thought in mind, creating a product that allows healthy living while still delivering that sweetness that everyone needs now and then. That is when they developed SweetMonk, an all-natural, zero-calorie sweetener made from monk fruit. “SweetMonk is now in 300 retailers in Canada and we are also killing it on major online marketplaces,” Benes said. As SweetMonk grew and the Canadian-based co-founders began to meet resistance to using their Canadian credit cards to pay vendors in the US, both Benes and Gemmill knew they needed a new partner.
Searching for a reliable Forex company
“Prior to my current position I used to work in banking, and I am familiar with currency exchange, so when a lot of vendors stopped accepting Canadian credit cards, I knew we needed to get a reliable currency exchange system.” Benes began seeking out fellow business owners and searching online for the right FX partner for SweetMonk. Benes and Gemmill were using a wholesale site called Faire to sell their SweetMonk products, and this site referred the pair to us here at OFX, “we signed up for Faire and they suggested we use OFX for our currency exchange needs and honestly, OFX has been a lifesaver.”
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Getting started with OFX
SweetMonk joined OFX after Faire’s referral and began working to solve their international money transfer issues and save on foreign exchange rates, “I met with Rob, our OFXpert, and he asked about our needs and really got to know our business.” In the foreign exchange space, we at OFX know that the best way to help clients is to get to know them. SweetMonk’s OFXpert Rob began the onboarding process by diving headfirst into their business and understanding what they did, what their goals were, and what they needed urgent help with. “He has always been so easy to get ahold of, super friendly, and helped with everything. He made a point of getting to know us and our business right away,” Benes said about her first few months with OFX.
Increasing profits with currency exchange
After SweetMonk started working with our team at OFX, Rob immediately began setting up the business to be more profitable and seamless for its co-founders, “He helped us be more profitable by saving on exchange rates and setting up a global currency account. Now we don’t lose money every time we transfer back and forth between USD and CAD, we can just keep our profits in USD and pay out of our account,” Benes said. Over time SweetMonk’s co-founders and Rob built a strong relationship and a stronger foreign exchange program for this small business.
“We use OFX for our currency exchange needs and honestly, OFX has been a lifesaver.” – SweetMonk Co-founder, Nicole Benes
Trust and consistency
Respect and trust are crucial to any FX partnership. Our OFXperts know that dealing with a business’s money and a person’s livelihood is one of the most important jobs there is. “Since we are relatively new business owners we still have a lot to learn, Rob just makes everything easy,” Benes said. OFXperts, like Rob, know that building trust takes time and consistency, which is exactly what OFX aims to deliver. “There were times when we had exchange situations that I didn’t know how to solve and Rob was always there to help, that is what built the trust for us,” Benes said.
Whether you are a small business, a large corporation, or an online seller, the security and reliability of a strong foreign exchange provider can make all the difference in your business but don’t take our word for it. “OFX is a service I would happily recommend to other business owners or organizations,” Benes said. Get started with OFX today and follow in SweetMonk’s growing footsteps.
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IMPORTANT: The contents of this blog do not constitute financial advice and are provided for general information purposes only without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited (trading as “OFX”) and its affiliates make no recommendation as to the merits of any financial strategy or product referred to in the blog. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this blog.
