Our relationship and agreement with the banks to provide clients in return for interbank rates allows us to negotiate prices that computer systems and balance sheets don’t allow for.
FAQ
Frequently Asked Questions
How do I set this up?
We open a settlement account at one of our partner banks in your companies name.
How much can we save?
This depends on your balance sheet as it stands as banks cost your forex rates based on the overall expected turnover. We could save anything up to 3% depending on currency.
Savings in Cents per USD/EUR/GDP for clients using their current bank compared to working through Gapex |
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Amount Saved in Cents Calculation on Value of deal between Gapex and your bank |
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R0.1000 | R0.1500 | R0.2000 | R0.2500 | R0.3000 | R0.3500 | R0.4000 |
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| Value of Deal | |||||||
| $2,500.00 | R125.00 | R250.00 | R375.00 | R500.00 | R625.00 | R750.00 | R875.00 |
| $10,000.00 | R500.00 | R1,000.00 | R1,500.00 | R2,000.00 | R2,500.00 | R3,000.00 | R3,500.00 |
| $25,000.00 | R1,250.00 | R2,500.00 | R3,750.00 | R5,000.00 | R6,250.00 | R7,500.00 | R8,750.00 |
| $50,000.00 | R2,500.00 | R5,000.00 | R7,500.00 | R10,000.00 | R12,500.00 | R15,000.00 | R17,500.00 |
| $100,000.00 | R5,000.00 | R10,000.00 | R15,000.00 | R20,000.00 | R25,000.00 | R30,000.00 | R35,000.00 |
| $250,000.00 | R12,500.00 | R25,000.00 | R37,500.00 | R50,000.00 | R62,500.00 | R75,000.00 | R87,500.00 |
| $500,000.00 | R25,000.00 | R50,000.00 | R75,000.00 | R100,000.00 | R125,000.00 | R150,000.00 | R175,000.00 |
| $1,000,000.00 | R50,000.00 | R100,000.00 | R150,000.00 | R200,000.00 | R250,000.00 | R300,000.00 | R350,000.00 |
Will FICA be required?
FICA is a standard requirement for any financial transaction and is unfortunately a necessary evil. We will guide you through this process as pain free as possible.
Why can’t my bank offer me these rates?
Banks work on balance sheets and frequency of transactions which dictate the pricing structure for clients as they have thousands of clients they have to deal with and the better your balance sheet, the better your exchange rate.
We’re able to focus on a select number of clients we want to work with and are able to offer the best prices for each of our chosen clients.