A sister duo from Sussex who have extensive experience within the wedding industry as well as insider knowledge of the foreign exchange market, have combined to launch their very own exchange platform – Wedding Forex.
With the average wedding in the UK now reaching over £20,000, it’s no wonder that destination weddings are on the rise. But even savvy savers have realised there are some premiums to add to an overseas wedding, such as a fluctuating currency rate or losing the ability to haggle.
New platform Wedding Forex, will instead allow couples, guests and those working in the wedding industry to make savings on their currency – wherever the destination.
About the sisters:
27-year old Illy has built up a successful wedding planning business over the past four years, she created the business with a team who have first-hand understanding of the wedding planning process, something a bank or other foreign exchange might not appreciate.
While 20-year old sister Zsofia, also a FTT Global alumni and formed wedding consultant, handles the sales side of the company and is the UK ambassador, helping couples to understand how to send money abroad securely and benefit from the platform’s exchange savings.
Together, they help couples to connect with suppliers who are registered on the platform, to allow for a seamless planning and payment process for all involved. Their aim is that the platform will allow for easier budgeting and planning for suppliers, couples and their guests, as well as providing savings for all parties too.
How does it work?
On average couples will spend £7,000 with local suppliers when planning a wedding abroad, which will be broken down into smaller payments to each supplier, incurring a number of transfer fees and variable exchange rates by banks or other third parties.
WeddingForex allows its clients to lock in an exchange rate and benefit from reduced transfer fees which could ultimately save them upwards of £1,000 on the overall cost of their wedding, not to mention a honeymoon or any additional travel requirements later in life.
They can also offer use of the service to their guests, for booking travel or accommodation, with guests spending an average of £700 to attend a destination wedding, savings could be significant for them too.
Already, the key benefits have been identified by a wide range of suppliers, who often lose out when working with international couples due to poor exchange rates and high transfer fees.