In a first for the yachting industry, Yachting Partners International (YPI) has announced a partnership with Currencies Direct, a company specialising in foreign exchange and international payments. The partnership will give YPI's clients and crew access to specialist assistance from a dedicated dealer and deliver significant savings through highly competitive exchange rates and fee-free transfers.
"There has never really been an appetite in the private yachting industry to explore savings on international transfers," says Sim Lighten, ex yachting company director and captain, now working as Business Development Manager for Yachting Partnerships at Currencies Direct, "however as yachting moves towards the need for greater commercial viability in light of industry changes, client expectation and the global economic situation, companies and individuals alike are increasingly looking for ways to reduce costs. By using Currencies Direct to send transfers overseas or make international payments, they can expect savings of between 2% to 5% compared to using the services of their high street bank. On the large sums involved, that quickly adds up to savings of thousands of pounds. "
Ian Petts, Financial Director for YPI comments: "We are always looking for ways to help our clients and our crew and we are excited about this new partnership and service.
Whether it is helping crew transfer their monthly salaries for free, direct into their bank accounts in their home country, or helping clients save on the charter, purchase of a yacht, planning stage payments on a new construction build and even normal everyday management, we believe Currencies Direct can provide the secure and efficient assistance we need.
"This is an industry that is constantly making cross-border payments and YPI is proud to be one of the first companies to identify the money-saving potential of using a foreign exchange specialist. We have chosen to partner with Currencies Direct because of their reputation, their technical expertise with exotic products such as currency futures, their 16 years experience in international payments and very importantly because they are authorised and regulated by the FSA."
The partnership is also viewed very positively by the CEO of Currencies Direct, Keith
Hatton: "We have taken the time to understand the industry's needs to develop a tailored product specifically for the yachting industry. Currencies Direct is looking to develop a long term relationship with the industry and is delighted that YPI, one of the key players in this market, has been the first to recognise the value of our bespoke products and services."