How do I save money?
We guarantee to quote you a better exchange rate than your bank. Savings are usually from 0.25% up to 4% of the amount being transferred. For example, a client transferring £100,000 into Euros was recently quoted 1.45 by their bank and thus would have received €145,000. We quoted 1.48 and paid them €148,000. Please contact us to compare your bank’s rate with our rate.

Do you charge commission?
No, we never charge commission and there are no other hidden fees or account charges apart from payment charges for smaller transactions (see below).

Do you charge for payments/wire transfers?
For amounts over £10,000 (or equivalent in local currency) we give you 1 free international wire transfer. For amounts under £10,000, we charge £15 per transfer. This is less than most banks, which charge up to £40.

How do I open an account with you?
For amounts over £10,000 you would need to complete, sign and return our Terms & Conditions together with 1) a copy of your passport or driving licence and 2) a copy of a recent bank or credit card statement or utility bill issued in the past 3 months. If you will be transacting less than £10,000 you only need to complete our online registration form. We can deal in any amount over £1000. You will get a great rate however often you use us, but if you set up an account there is no obligation to transact with Kash Mart. There's lots more information on registering on the Register With Us page.

What security do I have and is Kash Mart regulated?
Kash Mart is regulated by Bank of Ghana.

How long does a transfer take?
This depends on the currency you are sending us, the currency you are buying, the bank you use and the amount.
- Buying Sterling, US Dollars or Euros (amounts over EUR12,500). We will make a same-day payment on receipt of your inward payment and this should arrive the same day or next day.
- Buying Sterling, US Dollars or Euros (amounts under EUR12,500). Your funds will arrive 2 to 3 business days after we receive your inward funds (though this can be same day or next day on request)
- Buying Other currencies: Once we have received your funds, please allow 1 to 4 days for your funds to reach the recipient. e.g. for Swedish Kroner, it will be 1 day. For East Caribbean Dollars please allow 4 days. Please contact our Operations Department on 020 7 (20 ) for a more accurate date for your specific requirement.
The speed with which your funds reach us will depend on the currency, value date your bank uses and whether you make a BACS or CHAPS payment (for Sterling). See glossary below or contact our Operations Department on the above number.

What rate will I get? Will I get the same rate I see on Teletext or the Internet?
The rate will depend on the amount being transferred and the date you want the funds to arrive. The rates on Teletext and certain internet sites are “mid rates” for transactions over £1,000,000. This means they are an indicative rate halfway between the buy rate and the sell rate and no-one can trade at these rates. We believe, however, that Kash Mart will quote you an exchange rate closer to these mid rates than anywhere else. If there is a particular exchange rate you are trying to achieve, we are always happy to watch target levels for clients and can transact or call you if the rate is reached. You can see indicative exchange rates on our currency converter though please note these are the "interbank" rates for amounts over £1,000,000 so smaller amounts will get slightly lower rates.

Can I fix an exchange rate for a future date?
Yes, this is called a “Forward Transaction”. You can fix a rate today for any date from 1 week up to 1 year in the future. A deposit may be required for forward transactions and you will pay us the balance 1 day before the pre-agreed future date. This can be ideal if you have to pay the balance on a foreign property in 3 months time and you want to know exactly how much your property will cost in Pounds Sterling.

Why should I deal with Kash Mart instead of your competitors?
We believe we offer the best rates in the market and offer a Price Guarantee to ensure we will beat any other verifiable quotes you have. We also strive to provide the highest levels of customer service and receive extremely high levels of feedback.

Glossary of Foreign Exchange Terms

BACS: Bankers Automated Clearing Services – the process for Sterling clearing for domestic banks. Usually takes 3 business days.

CHAPS: Clearing House Automated Payment System - a faster means of making payments. Usually occurs on the same day.

Exposure: The amount of money at risk due to Foreign Exchange movements.

Forward Rate: The rate at which two currencies can be exchanged on a preset future date, e.g. sterling dollar exchange rate today for transfer in 3 months time.

Forward Points: The difference between the spot rate and the forward rate.

Forward Contract: A contract to exchange a specific amount of one currency for another on a future date at a predetermined rate. A deposit is normally required for forward contracts.

GTC - Good Till Cancelled: A GTC foreign exchange order will be left in the market until executed or cancelled by you.

Hedge: Protection against future currency movements.

OCO - "One Cancels Other": A combination of a ‘Stop Loss’ order and a ‘Take Profit’ order. When one of these two orders is executed, the other order is automatically cancelled.

Order: You can leave an "order" with us to transact on your behalf if a particular exchange rate is reached.

Spot rate: The foreign exchange rate at which two currencies can be exchanged in 2 days time.

Spot Transaction: The exchange of one currency for another at a specified rate for settlement in 2 working days.

Stop Loss Order: A stop loss order is a means of limiting your risk from adverse exchange rates. A currency level is set. If that currency level is reached, the trade is automatically executed in the market. The currency level used for a stop loss order is always worse than the current market price. This is a way to protect yourself from adverse changes in exchange rates without needing to constantly monitor the rate.

Take Profit Order: Like a stop loss order, a take profit order first involves setting a currency level. Once that currency level is reached, the trade is executed in the market. The currency level used for a take profit order is always better than the current market price. This is a way to capitalise on improvements in exchange rates without needing to constantly monitor the rate.

Settlement Date: The date for the exchange of payments.

Please call us if there is anything else you would like us to explain.

At Kash Mart, anyone from the UK or abroad or anywhere can transfer or convert foreign currency at a better rate then the banks.