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Our ‘partnership’ with Godi’s Foreign Exchange (Money Transfer) Service assists our clients and national consumers to improve their value and ensure certainty when needing to carry out Foreign Exchange transactions.

We thought that working through examples of ‘real life’ transactions may illustrate how and why this service may assist you as our customer.

Godi Mission Statement


“At Godi Financial our mission is to help businesses and individuals with currency requirements achieve greater savings and therefore profit, and greater certainty of ‘outcome’ from their global financial transactions”.

Put simply, Godi pride themselves on saving people and businesses money when converting currencies and making international payments.

So how does that actually work in practice? Below we are going to outline three typical examples specifically involving private individuals, which we encounter on a daily basis. Each example will cover a different monetary threshold (lower, middle and higher) and will aim to provide further clarity and a clearer understanding of just how the process works and why you should be using a foreign exchange specialist like Godi Financial for your currency transactions:

Example One – Lower Threshold (£1,000.00 – £10,000.00)

Scenario: A Private Individual who currently owns a villa in Spain (Mr Smith)

Currency Requirement: Mr Smith needs to make regular euro payments to his Spanish-based Euro account in order to cover mortgage payments, various bills and for spending money

Typical Action: Historically Mr Smith would have gone through his bank in order to make such a transfer. What he was unaware of however, is that not only was he getting charged high payment fees (Sometimes as high as £25), but he was also getting a terrible exchange rate to boot. In our experience the typical spread/margin applied by banks on transactions of this size is 3% or higher. To put that into context Mr Smith would probably have got a better rate if he walked into his local supermarket and bought a handful of Euros at their bureau de change.

Why Use Godi Financial: Godi Financial will typically apply a maximum spread/margin of just 0.5% on sums of £1,000.00 – £10,000.00. That is a fraction of the cost of a typical high street bank. Also Godi Financial only ever have to add a fee of £10 on transactions below £3,000.00.

Savings Example:
Mr Smith needs to Buy 6,000.00 Euros to send to his Spanish account as soon as possible. He will be selling Pounds.

Interbank/Mid-Market Rate at the time of writing (1st May): 1.1640

So even on a relatively small transaction Mr Smith stands to save £158.99 by using Godi Financial over his bank. Mr Smith however needs to do this same transaction every quarter, so all of a sudden that saving becomes over £630 per annum.

Example Two – Medium Threshold (£10,000.00 – £100,000.00)

Scenario: A UK national who has worked in Dubai for 6 months, getting paid in US Dollars (Miss Williams)

Currency Requirement:  Working in the financial sector, Miss Williams took a 6-month employment contract with a bank based in Dubai. Her contract stipulated she would get paid in US Dollars, with a monthly salary of $7,000.00. Fortunately Miss Williams opened a US Dollar bank account at the outset and is now in a position to convert her total earnings of $42,000.00.

Typical Action: Miss Williams has a ‘premium’ account with her UK bank and having subsequently opened a US Dollar bank account with them prior to starting her employment she assumed, like many others naturally do, that she would receive preferential exchange rates as a ‘premium’ account holder. Rather than simply assume she was going to get a fantastic exchange rate on her conversion, fortunately Miss Williams contacted her ‘premium’ account manager to get a quote on converting her funds. Much to Miss Williams surprise the rate she was quoted was 2% above the actual mid-market rate, meaning the bank would be taking 2% of her hard earned funds.

Why Use Godi Financial: Godi Financial will typically apply a maximum spread/margin of just 0.4% on sums of £10,000.00 – £100,000.00. That is just a fraction of the cost of a high street bank, regardless of whether it’s a standard or ‘premium’ account.

Savings Example:
Miss Williams needs to convert her $42,000.00 back into Pounds Sterling.

Interbank/Mid-Market Rate at the time of writing (2nd May): 1.3027

Having been prudent enough to double check the rate her bank would have provided and by choosing to use a specialist currency broker like Godi Financial, Miss Williams ended up receiving £530.08 more back from her hard-earned US Dollar funds.  Sadly, it is not at all uncommon for many banks to still charge upwards of 3% on transactions of this value or even higher, so the cost could be far greater than illustrated in this example.

Example Three – Higher Threshold (Over £100,000.00)

Scenario: A UK couple are in the process of buying their dream holiday/future retirement home in Florida. The Property is going to cost a total of $400,000.00.

Currency Requirement:  Having worked hard all of their lives Mr & Mrs Davis have always dreamt of one day buying a property in Florida, initially with a view to holidaying with their family but also with a view to moving permanently upon retirement which is likely to be in the next 5-10 years. Having found their ideal 4-bed Villa, Mr & Mrs Davis now need to complete the $400,000.00 purchase.

Typical Action: Unfortunately, but understandably, in the excitement and panic of trying to secure their dream property Mr & Mrs Davis sent the initial 10% deposit of $40,000.00 through their bank. Despite the large amount being transferred the Davis’ were charged 2% by their bank and incurred a further £25 fee for the payment. They were fully aware that the exchange rate was poor at the time but were prepared to bite the bullet due to the time constraints.

Fortunately, however, with more time available to them between the initial deposit and the completion date, Mr & Mrs Davis sought the services of an FX specialist for the remaining $360,000.00 payable to complete on the property.

Why Use Godi Financial: Godi Financial will typically apply a maximum spread/margin of just 0.3% on sums of above £100,000.00. That is just a fraction of the cost of a high street bank and there would be no charges/fees incurred.

Savings Example:
Mr & Mrs Davis need to buy $360,000.00 to complete the purchase of their dream property in Florida. They will be selling Pounds Sterling in order to buy the Dollars.

Interbank/Mid-Market Rate at the time of writing (2nd May): 1.3027

Having already been stung on the exchange rate for their initial 10% deposit, fortunately by seeking the assistance of Godi Financial for the larger $360,000.00 purchase Mr & Mrs Davis saved themselves £4,823.78. With buyer’s costs ranging between 2-5% of the property value in Florida, that substantial saving could go a long way to covering their fees or furnishing their new property.


The benefits of using Godi for your Foreign Exchange services are clear, based upon these ‘real life’ examples.  We know that a margin of 0.3% for £100,000, 0.4% for £10,000 to £100,000 and 0.5% for less than £10,000 transactions are market leading.

Simply click the link and follow the journey in order to action your Foreign Exchange needs –

Best Wishes.


Best Price FS Team

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