What does it cost to set a facility with PPS?
Nothing, that’s right absolutely nothing. PPS have no set up costs, no ongoing costs and will reduce significantly, or eliminate bank transfer fees altogether. This means you will never receive a bill from PPS for our services!
If there are no, or limited transfer charges, no set up cost and no ongoing cost, how do PPS make their money?
Quite simply we make our money in the rate of exchange. Due to our excellent banking relations, and the vast number of payments we make, we are able to reduce transfer costs significantly-or eliminate them altogether. We do not have the overheads a banking institute has which means we can make our money in the exchange of our client’s funds from one currency to another, whilst passing back up to a 10% saving in the rate-back to our clients
How can I be sure my funds are safe with PPS?
All of our client’s funds are paid into client segregated pooled accounts. This is similar to when a solicitor handles proceeds, for their clients from the sale of a property. Holding client segregated accounts means that our client’s funds form NO part of our assets.
Are my funds guaranteed whilst being held with PPS?
All our payments are made through our banking partners in the UK. The UK is known to be one of the most regulated financial industries in the world. Whilst these regulations offer our clients protection, we are also bound by the guarantee banks offer to anyone else-whether a business or private individual. What we do ensure is that our banking partners are financially sound as possible through due diligence when selecting our partners
Do you make payments before we send funds to you?
No. PPS will only remit onward payments once we have received your cleared funds. Doing it this way simply ensures both our clients and PPS have no risk in each and every transaction, and that the rates of exchange and charges are known, and agreed upon before a transaction is completed.
How do I know my staff has received their funds?
As soon as any payment is made by PPS a ‘Contract Note’ is sent to the employee. This confirms the details of the transaction such as amount, beneficiary bank details, reference and date. We also report back to the business a monthly report confirming all the payments that have been made to the payroll, on behalf of the business.
Will PPS be able to advise me on when to transfer my funds?
No, due to the nature of the financial markets PPS are not able to provide any insight as to where the rates of exchange may go. Any such advice would be a gamble, and we wouldn’t dream of gambling with our money, let alone our clients!
What we will do at PPS is become your eyes and ears in the financial markets, watching them closely for you. Knowing your specific needs will enable us to monitor the markets and notify you of any changes which directly impact your situation, leaving our clients to get on with what they do best
The above are only some of the questions you may have for us. If you have any further questions please do not hesitate to contact us to discuss these in greater depth. Each and every client has different requirements and hence you can only be sure of the correct information by getting in touch, we look forward to hearing from you.