For Recruitment, Immigration and Relocation
Regent FE, a specialist in multi-currency accounts, offers a comprehensive solution tailored to Recruitment, Immigration, and Relocation firms. This includes payroll management, recruitment fees, and relocation expenses, all handled efficiently across different currencies.
Their proposition centres on saving time and money while providing enhanced control over multi-currency financial operations. Here’s a summarised proposition highlighting key benefits:
Efficiency in Currency Transactions
By enabling payments and receipts in various currencies, Regent FE streamlines financial operations for firms dealing with international clients. This includes payroll management, recruitment fees, and relocation expenses, all handled efficiently across different currencies.
Currency Risk Management
Regent FE offers the option to book forward exchange rates, allowing firms to hedge against currency risk. This is particularly beneficial for managing future foreign currency transactions like salary and dividend income, as well as expenses in both new and home countries.
Multiple accounts
The availability of multiple accounts for segregating profit and cost centres aids in more precise financial management. This feature helps firms track and manage their finances effectively, aligning with their specific business structures.
Bulk Payments for Operational Ease
The bulk payment feature simplifies payroll processes and mass payment of expenses, significantly reducing the administrative burden associated with handling numerous transactions.
Safety of Funds
As an FCA Authorised Payment Institution, we want to assure our clients that the security of their funds is of paramount importance to us. Our robust systems and protocols are in place to safeguard client funds, ensuring their integrity and protection. All relevant client funds are held in segregated safeguarding accounts with UK and Swiss banks.
Personalised Service
Regent FE distinguishes itself by assigning a senior relationship manager to each client. This dedicated service ensures that clients receive tailored support and guidance, helping them navigate the complexities of multi-currency transactions and supporting their business growth.
In summary, Regent FE’s proposition is designed to provide comprehensive, secure, and efficient multi-currency financial solutions that align with the specific needs of Recruitment, Immigration, and Relocation firms, aiding in their global operations.
Use cases for Recruitment, Immigration and Relocation firms
Multi-currency accounts and conversions management are particularly beneficial for Recruitment, Immigration, and Relocation firms due to the global nature of their operations. These firms often deal with clients and employees from various countries, making multi-currency transactions a regular part of their business. Here are some use cases and typical currency exposures:
Payroll Management for International Employees
These firms often manage employees or contractors who are based in different countries. Multi-currency accounts allow for efficient payroll management in the local currency of the employees, reducing the need for currency conversion and associated costs.
Invoicing International Clients
When dealing with clients from various countries, firms can invoice them in their local currency. This is more convenient for clients and can lead to better efficiency
Facilitating International Transactions
For recruitment and relocation, there may be a need to pay for services like housing, schooling, or legal assistance in different countries. Multi-currency accounts simplify these transactions.
Expense Reimbursement
Employees or clients relocating internationally may incur expenses in different currencies. Multi-currency accounts enable firms to reimburse these expenses directly in the relevant currency, simplifying the process.
Managing Currency Risks
Fluctuations in currency exchange rates can significantly impact the costs and revenues of these firms. Multi-currency accounts can help in hedging against currency risks by holding funds in different currencies and using them as needed.
Attracting a Diverse Client Base
Offering services in multiple currencies can be appealing to a diverse international client base, enhancing the firm’s competitiveness.
Typical currency exposure for these firms includes:
- Exposure to Major Global Currencies: Often, these firms are exposed to major currencies like USD, EUR, GBP, etc., as these are widely used in international transactions.
- Emerging Market Currencies: If the firm operates in or deals with clients from emerging markets, they might be exposed to more volatile currencies.
- Seasonal Currency Fluctuations: Depending on the migration patterns and recruitment cycles, there might be seasonal peaks in currency exposure.
- Transactional Exposure: This arises from the need to convert currencies for day-to-day operations, affecting cash flow and profitability.
- Economic Exposure: Long-term changes in currency rates can affect the firm’s market position, costs, and competitive advantage.
By understanding these use cases and exposures, Recruitment, Immigration, and Relocation firms can better manage their multi-currency needs and mitigate associated risks.
FAQs
Contact us to discuss how Regent FE can be a valuable asset to your customers
You can also discuss your requirements with Regent FE by contacting us on +44 (0) 203 750 0605 or accounts@regentfe.com