• Welcome to Claremont Wealth

Our Services

Foreign Exchange

From sending your monthly salary home to mortgage repayments to corporate cash flows and cross currency purchases orders for your company, we have the tools, in every major currency, to ensure you receive the best possible exchange rates.

The average cross boarder banking transaction costs an average of 5%, at Claremont We offer our clients the ability to substantially reduce these fees to less than 1%.

Our Partnerships with internationally regulated currency traders, allow us to establish you a free account to use whenever you need to transfer money internationally. There has been significant growth in the retail capacity for currency exchange, and this has helped competition in the market, competitive rates are now achievable by retail clients.

Please take a few minutes to see our video on how our foreign exchange solution can work for you. You can also download our English brochure here and our Arabic version here for more information.

  • Is my money as safe using a currency specialist over a high street bank?
    100%. Authorised FCA regulated FX specialists need to safeguard client funds through segregated client accounts and maintain a defined level of capital or ‘own funds’. All funds are deposited in Client Accounts which are segregated from the company business accounts for the sole purpose of exchange and onward transfer of payments. The accounts are all held by UK banks such as HSBC, Barclays, RBS to ensure protection and security of the funds you wish to transfer overseas.
  • How important is it to select a foreign exchange broker that is FCA regulated?
    It is absolutely essential that your funds are safe, and you send money overseas through an FCA authorised currency specialist. At Claremont we carefully vet all providers we work with and ensure all have full authorisation and regulation by the FCA under the Payment Services Regulations 2009. All companies listed on our site have been checked by FCA and you can find out more information via the FCA’s Money Made Clear site. In addition, all FX specialists Claremont work with are authorised and regulated by HMRC.
  • Why is it cheaper to use a foreign exchange (FX) specialist rather than a bank?
    Given that FX specialists are buying and selling currency in large volumes, and working with live rates, they can get far closer to the interbank rate than banks, thereby saving clients between 1-5 % per transaction. Remember, customers get hit with ‘two’ fees: the exchange rate (hidden fee) and the transfer fee. Furthermore, banks also charge substantial transfer fees of between £10 – £25 every time you transfer money overseas. If you are making multiple transfers per year this can become a very expensive method of transfer. On the other hand, foreign currency specialists will not charge a fee on your overseas currency transfer, providing you are sending above a certain minimum amount. To find out how Claremont can save you money when transferring overseas please email forex@claremontwealth.com