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Working with SMEs

A simpler way to trade internationally

We provide a suite of products designed for Small to Medium-Sized Enterprises (SMEs).

We are part of BFC Group, which has operated a global money remittance and foreign currency operation throughout Asia, Middle East and the UK for many years. We understand the challenges for SMEs who trade overseas.

Fairness and transparency are at the heart of everything we do.

Our Services

We provide a suite of products designed for Small to Medium-Sized Enterprises (SMEs).

Our cost-effective solutions simplify the management of international payments and foreign exchange.

Our specialised bank service for SMEs complements your present bank arrangements, with a specific focus on international payments, and consists of:

Multi-currency current accounts
Cross currency notional pooling
Instant deposit accounts
Term deposit accounts
High-quality relationship management
Expert payments team
International banking for SMEs

Our international payments services complement your existing banking arrangements.

Small to Medium-sized Enterprises (SMEs) enjoy an online service and support from experienced relationship management and expert payments teams.

We are part of BFC Group, which has operated a global money remittance and foreign currency operation through our offices in Asia, Middle East and the UK for many years.

How we help the growing SME market

Small to Medium-sized Enterprises (SMEs) are central to the UK economy.

Around 60% of the UK’s private sector employment is in SMEs, according to the Federation of Small Businesses. The combined annual turnover of SMEs is in the region of £1.8 trillion. That is 47% of all private sector turnover in the UK.

Reducing costs is crucial for SMEs

Foreign Exchange (FX) transactions may lead to inflated costs that SMEs strive to reduce. FX execution is traditionally a very expensive service for SMEs. It is the cost of doing business with international subsidiaries, suppliers and clients. Many providers often take large spreads when they undertake FX transactions on behalf of clients. They disclose very little data about their FX spreads within the overall transaction charge. SMEs who absorb these charges may struggle to understand the true cost.

Our focus is on your needs

We are different. We help SMEs reduce FX charges through a fair and transparent transaction services tariff for international payments and FX.
BFC Bank has over 40 years experience in the international payments industry. That makes us well placed to offer an online, simple and cost- effective banking service for SMEs.

Our service is designed to simplify how you manage overseas payments and FX. It complements your existing banking arrangements. We offer innovative ideas like cross currency ‘notional pooling’ – to help you make better use of credit balances and reduce running costs.

Flexible, transparent, supportive

Our flexible online service combines scalable infrastructure with a simple approach to deliver services seamlessly. Our ethos is to offer SMEs an unrivalled transparency on costs and margins.

With BFC Bank, you receive superior care from a dedicated Relationship Manager who you meet regularly to ensure high services levels are maintained. Plus, we provide additional support from expert relationship management and payment services teams in London.

Specialist services for SMEs

We know SMEs face many challenges: the volatility of GBP, a shortage of financing, increased competition and an uncertain economic environment.

We understand that you need to keep overheads low, manage cash flow and develop the right import-export strategies. 


FX charges

If you make regular international payments, or have overseas operations, you may face significant foreign exchange (FX) charges. Banks earn sizeable, typically undisclosed revenues through spreads on FX transactions. You may not see a full breakdown of your FX costs as the spread can be hidden.

Low FX spreads

We provide basic corporate banking products such as international transactions, multi-currency cash management and UK domestic payments. Our banking products are designed to simplify overseas payments and FX, and complement your other banking arrangements. We offer SMEs online multi-currency accounts and we publish FX spreads that are as low as possible.

Cross-currency notional pooling

You may notionally pool currency current accounts, subject to prior agreement. For example, if you have GBP in your account but lack USD, the short USD position may be cash collateralised by the long GBP position. You can then make the USD payments.

With ‘notional pooling’, you cover a position and avoid FX transaction and associated charges. It removes the cost of forward contracts and currency purchases you may face to meet a short term need. This delivers tangible savings to your bottom line.

Transparent FX costs

We are transparent about our FX charges. We provide clear information on our tariffs. This transparency gives you the confidence you need from a corporate bank and a benchmark against other providers. International payments and FX are our core strengths. We have a long history of industry-leading FX expertise that we make available to you through our team of knowledgeable Relationship Managers.

Your specialist banking partner

We have direct access to the UK Faster Payments Scheme as a full independent member; we are also a member of SWIFT. We help firms reduce their cost base through fairly-priced, innovative products designed to increase operational efficiency and improve cash management.

Transparent Fees

We make it easier for Small to Medium-sized Enterprises (SMEs) to understand banking fees and Foreign Exchange (FX) charges.

SMEs may find it difficult to identify the precise nature and breakdown of charges. We take a different approach. We believe in complete transparency and disclosure of our fees. We always let you know what you pay for.

Complete transparency and disclosure

The same high level of disclosure applies to our FX spreads. International payments and FX transactions are full of hidden costs. Our policy of openness on FX charges gives you the full picture of the exact make-up and scale of charges.

Cost-effective, innovative services for SMEs

If you undertake FX in multiple currencies, you may have little choice but to pay wide spreads that are not always transparent. You may be forced to accept the costs without further explanation.

At BFC Bank we provide cost-effective and transparent corporate banking services to SMEs. We support you with complete openness about margins and FX spreads. We set these fairly to tackle the high transaction costs of international trade.

Cost-effective, innovative services for SMEs

As a recently established bank, we deliver a highly efficient online service, unencumbered by legacy systems and technologies that are expensive to maintain and operate.

As well as competitive pricing for our online services, our innovative, multi-currency account model helps SMEs make payments and manage FX as efficiently and effectively as possible.

With BFC Bank, you enjoy the best of both worlds: banking advantages that are normally the reserve of large, global enterprises combined with the simplicity and flexibility of a start-up company. Our business model delivers substantial cost savings when you undertake international payments through us.