Currency exchange is usually thought of in two different ways. One is for travelers from one country to another. In order to have money to spend, they will need to purchase local currency through an exchange source.
The other way that people think of currency exchange is for investment purposes. There are people who trade currency on the open market as a way to make money. They trade one currency for another at a lower price and then sell when the currency rates increase. However, there is a third need for currency exchange, and that is for companies doing business internationally.
Why Not a Bank?
Many international companies will do all of their business through a bank in the US rather than using an exchange service, but in reality, this doesn’t make sense. Banks aren’t currency exchange centers. In fact, their main purpose is investment. They take the money people park with them and invest it in order to make more money. This is done through lending as well as long-term low-risk investments.
When it comes to currency exchange for businesses, a bank does not offer the best fees. In fact, they may be more expensive than other outlets because currency exchange is not a primary part of their business. They are also not foreign exchange experts, their focus is on domestic matters, making them a great choice for domestic banking, but not for foreign banking and exchanges.
This leaves investment companies for many businesses. However, investment companies are designed with an investment platform in mind. For businesses looking to invest, then this is a great choice. For those that are looking for a banking option that will help save money, the frequency and the amount of money being exchanged might make working with an investment company very expensive as they charge broker fees and other fees to their customers.
While sounding like a bank or an investment service, financial institutions like Advanced US provide currency exchange services for businesses. They also provide business advice, real estate purchasing help and much more. Because of their high volume exchanges, they often have much lower rates than a bank or an investment company.
If your company is in need of an exchange service from Brazil to the US, then Advanced US may be the right cambio Miami. Check out their services today and see if they can save your company money.