5 things banks, exchange houses and financial institutions must consider while choosing a wholesale banknotes dealer

If you’re a bank, exchange house or a financial institution looking for an efficient way of disposing of surplus banknotes or purchasing foreign currency, you’re surely looking for a wholesale banknotes dealer who not just deals in all major currencies but can also provide risk-free transactions. Here’s your quick guide for choosing such a banknotes dealer.

1. Availability of all major currencies

No, you’re not asking for too much. All big players in wholesale banknotes deal with the top global currencies, such as USD, AUD, HKD, etc. They enable their buyers to purchase global currency notes or dispose of surplus banknotes efficiently.

2. Pricing and settlement

It is crucial that your wholesale banknotes dealer is open to discuss and offer pricing and settlement terms that work in favour of your organisation. While traditional dealers claim to provide competitive rates, new-age banknotes dealers like Wirease don’t just ensure that you get bank-beating rates but also excellent settlement terms.

3. Insurance

A wholesale banknote dealer should be able to provide insurance cover to the full value of your wholesale currency whilst in their custody. This not just ensures that your transaction is risk-free but also proves to be mutually beneficial for both your dealer and your organisation.

4. Established Cash-In-transit Providers

The last thing you want when dealing with foreign currency bank notes is loss in transit. It is therefore crucial that your wholesale banknotes dealer works with established cash-in-transit providers who ensure that your cash reaches you safely.

5. Global Delivery

Lastly, but most importantly, your dealer should be able to collect and deliver banknotes across global locations, facilitated by their cash-in-transit providers.

Therefore, you must only settle for a wholesale banknotes dealer who not only deals in banknotes of all nations, at least the major currencies, but also ensures safe transactions and delivery. You can explore companies like Wirease, who are established players in the wholesale banknote business and deal in over 50 global currencies.