A commercial contract has been signed by Advantage Travel Partnership with International Foreign Exchange (IFX) to provide better deals to members than high street banks.
The agreement is designed to help mainly business travel members who make payments in currencies outside of the UK.
The aim is to minimise the costs of international payments and transactions by providing better quality information and wholesale exchange rates, not typically available through traditional channels. Advantage claimed one member saved over £300 on a €12,000 payment.
Advantage corporate director Ken McLeod said: “This agreement will help members, mainly in the corporate market, who need to pay for services such as airline tickets and ground handling arrangements eg transfers; make advance payments to hotels and destination management companies for MICE groups; provide emergency cash for clients; or cover event costs such as conference delegate fees.”
Stuart Ambrose, executive dealer at IFX, said: “As the dedicated Advantage consultant, I will develop a thorough understanding of the specific needs and priorities of a member’s business and work with them to optimise their savings.
“As international currency experts, we produce daily market reports, covering economic stability, trend figures, central bank and government announcements, which can be delivered free to members’ email inboxes.”