When Martin’s son eschewed Oxbridge for Stanford, currency transfer risks became the latest addition to an ever-lengthening worry-list. Luckily, he could rely on Caxton to lighten the load.
After leaving school, Martin’s son was determined to broaden his horizons.
Attracted by the freedom to pursue various interests before settling on a major, he left in September 2016 to begin a four year course in California. When your only child decides to study 5,000 miles away, money concerns fade but they don’t disappear.
Martin has to wire the university its tuition fee every month as well as sending a personal allowance to take care of daily expenses. Having received income in several currencies for much of his career, he had long since lost faith in the service provided by high street banks to send and receive foreign capital. After seeing an advert in the Financial Times, he called Caxton who has handled all his foreign exchange needs ever since.
He counts on his Caxton account manager to advise him how much to exchange, when to execute the trade and find the cheapest way of getting the money from A to B. The expense still stings, but he can relax knowing that every last drop of value has been squeezed out of the exchange.