RIFT Partners with Money Mover to Cut the Cost of International Payments

Wednesday June 8, 2016

Transferring money internationally can be pricey and stressful. RIFT teamed up with pioneering Money Mover to find a better way.

Money Mover LogoAt RIFT, we're always excited to partner up with big thinkers and bold innovators. It's why we're out here on the Small Business Battlefield to begin with. Now, we're delighted to announce that we're teaming with wild-eyed financial revolutionaries Money Mover to bring sanity back to international payments and transfers.

This all came about because of you, of course. When we do our Quarterly Reviews, we pay close attention to your battlefield reports. In fact, that's one of the most useful and fascinating things about them. Talking directly with you tells us more about the challenges you're facing than a mountain of spreadsheet data.

A key point we kept hearing was that international transactions were dragging too many of you down. The business world gets smaller and more closely connected every year, and many RIFT Warriors find themselves relying on overseas customers, partners, freelancers and subcontractors. It's a land of great opportunity, but money is the language of business, and we're not all using the same phrasebook.

With tales or your triumphs and trials ringing in our ears, we set out to cut a safe path through the thorny issue of international payments. That's how Annette Bunn, our Partnerships Manager,  tracked down the crazed inventors of Money Mover and saw the beautiful machine they were building.

In fact, the first awed rumblings we'd picked up about Money Mover came from our own Senior Accounting Associate, Michael Daly. This respected RIFT veteran had been a client of theirs on a previous job, and had been highly impressed. Money Mover was out there solving the problems of currency conversion and - just as importantly - they shared RIFT's core guiding principle: taking care of business.

Here's what Money Mover's all about:

  • They provide a simple, low-cost and secure way of handling international payments and transfers.
  • You stay in the loop and in control at all times with an easy-to-use web app.
  • They're built around the needs of small businesses, lowering costs and working with all major currencies (plus a few minor ones).

How It Works

For a practical example, take a look at this breakdown. Here, we used ourselves as a guinea pig to test out Money Mover's methods.

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How much would RIFT have saved by using Money Mover?

The table below shows savings available from Money Mover, after calculating the exchange rate-related costs incurred on each transaction based on the rates we obtained from our bank.

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The results speak for themselves. Using our own figures, it turns out that Money Mover saves us well over £500 from just three of our recent currency conversions!

This translater to a saving of 1.69% of transaction value, inclusive of all costs.

Word's already getting out across the RIFT about our partnership. Hot Craze, a proud RIFT client, has signed up with Money Mover to support promotional goods transactions spanning the Middle East, the US and beyond. As you already know, we do a lot of work with seasoned envelope-pushers in our R&D section. Many of those clients work across borders and are already benefitting from the partnership.

Why Use Money Mover?

  • Designed for SMEs and developed with their specific needs in mind.
  • Tailored functionality, services and reports
  • Client funds are held at all times in segregated accounts for maximum security.
  • Money Movers does not have the ability to draw funds from any bank accounts held by clients.
  • Straight-forward registration process, generally completed in 24 hours

About Money Mover

Money Mover is a Cambridge based Fin-Tech start-up which has been founded by an experienced team of bankers and technologists. It's aim is to lower the costs ad provide enhanced transparency over global payments for SMEs.

You can find out more about Money Mover and what they mean for your business here.

In the meantime, keep coming to us with all your questions, worries and dreams - and stay tuned for more Voices from the RIFT...

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