As one of the UK’s most significant industries, the legal services sector brings enormous economic benefits to the British economy, with a £22bn GVA contribution each year. As the world starts to move on from the worst effects of the Coronavirus outbreak, UK legal professionals can benefit immensely from partnering with colleagues in foreign jurisdictions to provide the best legal services for their clients.
Law firms also stand to gain from partnering with currency specialists. Given the recent volatility in the foreign currency markets, there is considerable client demand for currency exchange solutions that reduce the downside risk inherent in transacting in foreign currencies and make it easier to send international payments. For law firms looking to differentiate their offering, granting clients protection from foreign exchange rate fluctuations is a fantastic way to provide a value-added service. We work in partnership with leading legal practices to help their clients save money abroad, in addition to supporting the currency exchange requirements of those law firms,
How we can help your clients mitigate risk
We bring decades of experience to bear in helping law firms cater to the needs of importing and exporting firms, international retailers and foreign homeowners. Our dedicated foreign exchange specialists work alongside a number of law firms, helping them assess their clients’ foreign exchange risks, identify their requirements and provide practical solutions.
Our specialist teams offer bespoke solutions that are designed to protect your profits by reducing currency costs and mitigating the risk posed by foreign currency fluctuations. We work with a panel of liquidity providers to offer our clients the most competitive currency rates and low transfer fees, with a range of specialist foreign exchange contracts that can enable you to make the most of your company resources when trading internationally.
We offer a range of hedging tools, including currency forwards, which allow your clients to fix the current rate of exchange for up to two years. We also offer limit orders, which enable buyers to purchase foreign currency at a specific exchange rate.
How we help save money on international legal costs
We offer our clients in the legal sector a specialised International Client Currency Account (ICCA). This is designed to help law firms reduce their administrative costs and save money when transferring funds belonging to their international clients.
Our team of foreign exchange specialists can cater for all of your needs, whether you are transferring funds during the conveyancing process or moving client money to other designated client accounts. We access a pool of exchange rate providers in order to deliver a competitive rate for each of your transfers, helping save you and your clients money. Our foreign exchange tools and mass payment platform enables us to offer a service that suits the needs of law firms and legal clients of every shape and size.
How we can address the needs of your clients
By partnering closely with legal firms, we are able to provide your clients with expert guidance on the foreign exchange markets, in addition to specialist FX tools that can help them make the most of their funds overseas. Your clients can then enjoy our competitive rates, which are often cheaper than those offered by high-street banks.
It is simple and straightforward to set up your ICCA, which has been specially designed to cover all your administrative needs.
How to offer international payment services to your clients
If you have clients who regularly make large international payments or have dealings abroad, simply introduce them to our service and refer them to us. We will then take it from there, leaving you to track all of your referrals via our online platform.