More reasons than you might think.
Need to manage regular income or payments abroad? Our FX partners can help.
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Fully automated payments
Simply tell us who to pay, how often and in which currency, and we will arrange your fully automated payment schedule, just like a Direct Debit.
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Fixed exchange rates
You can lock in current exchange rates, giving you total certainty of how much you’re sending or receiving with each payment.
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Targeted rates
You can even schedule a payment for when your desired exchange rate is reached, locking it in for up to two years so market fluctuations won’t affect your payments.
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Recurring payments without a schedule
Send to the same recipient without the regular schedule, online or via the app with just a few clicks – perfect for weddings or international school fees.
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120+ Currencies
Choose from over 120 currencies and send to over 190 countries, quickly and confidently.
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24/7 secure online access
Login online or via the app to view and manage your payment plans anywhere, any time.
Miss Kelly’s story.
1. On 5th May 2019 Miss Kelly agreed to buy a property in Italy for €280,000. To secure the property, she agreed to pay an initial deposit of 10% and the remaining 90% on completion in 3 months’ time.
2. When paying the deposit, the GBP/EUR closed at 1.17511, meaning the deposit cost £23,827 and at that rate, the final 90% of the property payment would cost £214,448. By the time the final payment was due on 10th August 2019, the GBP/EUR rate had dropped to a low of 1.06466, meaning the final payment would now cost £236,695 – a difference of £22,247.
3. Fortunately, Miss Kelly had locked in an exchange rate of 1.1751 when she paid the deposit using a Forward Contract. This meant that the final payment cost £215,182, saving £21,513 compared to the exchange rate on the day and covering almost all of the difference between the two rates.
4. Miss Kelly then had the remaining payments organised via a Regular Payment Plan over the course of the next 12 weeks. Without the hassle of having to make the transfer every time, it was the perfect way to budget her finances.
A faster, easier way to meet regular or lump sum foreign currency needs
Blue Square offer a ‘referred service’ for all FX services to a UK Overseas company. FX services are not covered by Isle of Man Financial Services Act. Any UK company referred to will be regulated by the UK Financial Conduct Authority in respect to it’s business undertaken.