The raging rate of the Swiss franc can palpitate every borrower with a commitment in this currency. No wonder that customers are looking for solutions that will allow them to save on loan installments. Online currency exchange is one of them.
How can online currency exchange help reduce the monthly burden? How do online currency exchange offices work and how do they differ from traditional currency exchange points? In this text we will try to briefly present those issues that will be useful to every buyer and seller of foreign means of payment.
Anti -reading Act and online currency exchange
Until a few years ago, borrowers paying off their liabilities in foreign currencies were in a very uncomfortable situation: dependent on banks, often burdened with high spreads, they were not able to pay off the debt in the currency they bought themselves. Changes occurred in 2011, when the so-called Anti -reading Act .
The new law not only freed borrowers from the dominant position of banks. It also enabled the dynamic development of innovative entities offering online currency exchange . Although the first online currency exchange bureaus were created a few years earlier (2009), their real boom followed changes in regulations.
Since then, many entities of this type have been created. In this group he was, among others Deack Exchange online currency exchange, which is part of the Deack Group – a brand with over 20 years of experience. Over time, Deack Exchange has achieved the position of one of the market leaders.
How much will you save on online currency exchange?
The option of paying off installments in a currency bought outside the bank meant that borrowers quickly appreciated the activity of online currency exchange offices. These operate 24 hours a day, seven days a week.
A characteristic feature of online currency exchange websites is a very favorable spread – even several times lower than in the case of traditional institutions offering foreign exchange. How much exactly can you save on using e-currency exchange services?
According to statistics from the end of 2016, in the case of the euro the spread was even 14 times lower than in the bank . Slightly better conditions are offered by stationary exchange offices. However, they are also losing in this respect to online exchange websites.
Courses that are very favorable for customers also apply to the Swiss franc . The average spread in the online currency exchange was even seven times lower than in the bank .
Advantages of online exchange offices
Not surprisingly, more and more borrowers are choosing an e-currency exchange instead of the traditional point. Services like the Deack Exchange are very popular among people with liabilities in francs or euros. This applies not only to individual clients, but also to entrepreneurs. The e-exchange office has a dedicated service for business.
There are other arguments for using the online currency exchange office :
- Help of experienced currency traders and experts in making transactions
- It is possible to negotiate the terms when exchanging amounts greater than 10,000. euros and a more favorable spread
- The highest security of operations
- Intuitive transaction service
- Execution of orders even in 15 minutes.