Why Use Eris FX?
Digital sign up
Our registration process is quick and easy. It’s entirely online via a simple web-based form and takes less than three minutes. There’s no need to send documents or to have phone calls.
This makes it very fast and convenient for customers to register. We can usually open your account within 30 minutes during working hours and you can send money the same day.
We show the live exchange rate for your international payment on our website currency converter. You can see the total amount of your currency exchange and the total cost to you expressed as a percentage.
We use “mathematical pricing” which means our costs are based on the value of the deal. This means we charge exactly the same price to every customer for the same deal. That’s fair!
Simple online platform
Our customers tell us how simple and convenient the platform is to use. You can input your beneficiary accounts, buy or sell your currency using live rates, and see a full transaction history online. It doesn’t require trading skills or any specialist knowledge.
Compare our rates
We show our rates and costs upfront on our website, which means that you can compare our prices with your bank or any other provider.
You can see the total “money to money” value of your transaction changing in the real time, but the “margin” (cost) is always the same for the same deal size. We show this on our currency converter as a percentage of the total deal size, so you can always see exactly what you’re getting.
Fast international payments
Whether a retail or business customer, we make all our payments as “priority same day”. This means that if we release the payment early in the morning it should be credited to the overseas bank account the same working day. In practice, it’s often almost instant. If there’s a delay, it is due to the overseas bank and not our payment method.
Our default transaction settlement timeframe is the industry standard “Spot” or “T+2”. This means if the trade date (T) is, say, Monday, you pay us on Tuesday(T+1), and we pay the currency out to you for same day value on Wednesday (T+2).
Most of our customers find this timescale suits their requirements, but if you occasionally need a payment particularly urgently, we can accommodate T+1 or even T.
Choose your own exchange rate; you’re in control
A bank may show only one or perhaps two price changes per day. With Eris FX, exchange rate updates are “pushed” to our platform every second, 12 hours per day. This gives you up to 43,200 rate changes per day!
The platform is self-service, and you can login whenever you want during opening hours (8am to 8pm) to buy or sell your currency. You don’t need to telephone or let us know that you’re about to do the trade. Nor do you have to send any money in ahead of the deal. Just grab the rate when it suits you.
Security is our priority
Our top priority is the security of our customers’ funds, but there’s no point in reinventing the wheel. That’s why we use Currencycloud to make and receive all our payments. Currencycloud is a global payments platform built on smart technology that takes the complexity out of moving money.
Friendly staff based in the UK
If you need to speak to us by phone, you won’t find any overseas call centres or automated queuing systems. Our staff are all based in the UK, and you’ll always get to speak to someone who knows the whole process and can help you with any aspect that you’re unsure about.
If you’re nervous about transacting online, or your internet connection is slow, just call us and we’ll do everything for you on the phone. You’ll get exactly the same rates that we show on our website.
No commission-based dealers or salespeople – no sales calls
We don’t pay anyone to recommend us and we don’t have any commercial partnerships. We don’t have any staff paid on commission so you will never need to haggle with us to get our best rate; it’s always right there on our website.
And because of that, there won’t be any sales calls or hard selling, ever.
Independent and British owned
Eris FX is an independent business based in Leeds, UK. It’s owned by its staff and Finance Yorkshire Ltd. which has been an investor since 2013. Finance Yorkshire provides businesses across Yorkshire and Humber with funding to start and grow. All employees have share options, so they have a vested interest in making the company the very best it can be.
Yorkshire’s own authorised payments provider
Yorkshire may not have its own currency, but it does have its own currency company! We believe we’re the only authorised payments institution in the county.
However, that doesn’t mean we’re all cloth caps and whippets. Our customers come from all over the UK. We exchange currency and send money to countries worldwide on behalf of businesses and individuals using our leading-edge technology.
Eris the Greek Goddess of disruption and consumer champion
Eris has been working tirelessly for five years to disrupt the status quo and force price transparency in the industry. It has already succeeded in having misleading interbank rate currency converters removed and is now working to enforce transparent pricing and cost structures for customers to be able to shop around and compare prices online.
Eris FX’s CEO, Helen Scott, is proud to be an Ambassador of the Transparency Task Force, the collaborative, campaigning community, dedicated to driving up the levels of transparency in financial services, right around the world.
Sign up for an account with us today.