Inside Wellington - Second Section of The Wellington Advertiser, Friday, February 10, 2012 PAGE THIRTEEN
Spotlight on Business Saving you Money – One Peso or Pound at a Time
Global Currency Services Inc is an independent foreign currency company which promises to save clients money on every exchange of cash, travelers cheques, wire transfers, drafts and cheques. “If there’s a dollar or a Peso or a Pound that needs to flip into another currency, we’ll find the most inexpensive way to do it for our clients,” said owner, Carinta Mannarelli. Carinta opened Global Currency Services Inc in the summer of 2000 with plans to operate a primarily cash-based currency exchange “I did quite a bit of research, and the local market was in high demand for a facility that exchanged foreign cash,” she explained. Within a very short time, Carinta soon discovered an additional high demand for non-cash services. Exchanging foreign cheques and offering wire transfer services has meant this local company now has a client base that stretches across the country. “Technology has made it very easy for us to service clients in any part of Canada. Although my heart still belongs to the local traveler that comes in to buy EURO for their upcoming cruise, it feels great to be able to help any Canadian client with their noncash needs.” One of the biggest hurdles for Global Currency is educating the public. Few understand that currency is like any other product in that the price of the currency will vary from institution to institution. “Once they realize that there IS a difference in the rates of exchange and the service charges found between banks and between companies like ours, it’s very easy to gain them as clients. An average client that trades $10,000 a month with Global Currency instead of their bank can easily save over $2000 a year.” The original vision for the business is still alive today: to be able to offer as many foreign currency services as possible, at rates that are guaranteed to beat local competitors. Offering free local delivery to businesses, and keeping over 60 currencies in stock has ensured that Global Currency saves money AND time for their clients. Over the past few years, fraud and financial crime has been a focus for the staff at Global Currency Services. “Although our business starts and ends with currency exchanges, we’re finding that more and more of our day is dedicated to ensuring that our clients are not being defrauded”.
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While technology has made it very easy for Global Currency to attract and retain clients from across the country, it has also made it easy for criminals to attract a wide group of victims. “It’s no longer the case that the victims of financial crime are vulnerable members of the community. We’ve seen successful lawyers, accountants and doctors fall victim to fraudsters.” A typical fraud to be aware of is any request of funds through Western Union or MoneyGram. “As a Western Union agent, we’ve seen firsthand how this essential service has been abused by criminals. The service exists to ensure that you’re able to send money to loved ones in any part of the world within minutes. The sad flip side to this service is that criminals too are able to collect funds from any part of the world within minutes. Once the funds are sent to a fraudster, they are
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never recovered by the victim.” The ten staff that greet you at the wickets at Global Currency Services have all intercepted many fraudulent transactions over the years. Manager Tara Grant adds, “We’re in a unique position in that we’ve seen many scenarios and heard all of the excuses. Once you boil the details away, the fraudulent transactions all look exactly the same, and while there are many reasons why a victim won’t be able to identify it as criminal activity, we are able to recognize it almost immediately.” In addition to lower rates, Global Currency sets itself apart from banking competitors by offering a few more free services: ·Clients are able to hold today’s rate for a future date. If the market provides a rate that they’d like to take advantage of, but the funds aren’t needed for a few months, clients are able to hold that rate for up to a year away! (Call for more details.) · Clients are able to take advantage of rates of exchange that are reached overnight – automatic overnight bidding allows clients to take advantage of pricing that the European and Asian markets offer. Each of the ten ladies at Global Currency Services encourage you to give them a call – they’d love to help you with your currency needs or share a few ‘fraudster’ tales with you over the phone. (519)763-7330 or Toll Free at (877)390-7330.
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Are your worried Secure Today’s Rate for Future Currency Trades 519-763-7330 www.global-currency.com
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Global Currency Services can provide today’s rate for trades up to a year away. Call today to protect your future costs
www. WELLINGTONADVERTISER.com (519) 763-7330 or toll free (877)-390-7330 www.global-currency.com