Who is Halo Financial?
Halo Financial is a renowned provider of commercial foreign exchange. Their success to date is a product of helping their clients garners better rates than the bank exchange rates and guiding them through the intricate processes of mitigating FX risks. By helping you trade at the perfect time, when the odds are in your favor, Halo Financial aspires to help you save money. Halo Financial can supply you with exchange rates which can even be lowered up to 4% when compared with other banks, on a “like for like” quotation basis. However, before you make a switch to Halo Financial, here’s what you should know about this commendable foreign exchange company:
- Halo Financial commenced trading in the February of 2005 and is based in London.
- Halo Financial was recommended in a recent poll by 93% of its clients.
- Their FX Dealers are top-notch technical analysts, in possession of industry acknowledged certifications.
- Halo Financial has been featured more than 300 times on prominent TV news channels, such as Bloomberg, CNBC Arabia, CNBC Europe, as well as appearance in numerous interviews on BBC Radio. In addition, their contribution to industry leading trade press and magazines has been noteworthy.
- Halo Financial has received accreditation status by HM Revenue & Customs (HMRC) as a licensed Money Service Business (registration number 12197454), and have authorized for the provision of payment services by Financial Conduct Authority (FCA) under the Payment Services Regulations 2009 (registration number 528727).
How Does Halo Financial Work
Halo Financial have designed their services to make life easier for their clients. This simple five-step process can get you started with Halo:
Open an Account
You can register for an account, either online, by post or via phone. The registration process is completely free of charge and there is no compulsion to commence trade even after your account has been opened.
Obtain a Quote
After registering with Halo Financial, a dedicated Foreign Exchange Consultant would be assigned to you, who would always suggest the best solutions for you, answer any queries for you, and discuss your currency requirements. Once you are satisfied with the consultation, Halo Financial will quote an exchange rate over the phone for you, which you can choose to reject or accept without any liability.
Confirm Your Trade
After obtaining a quote, you will receive a confirmation email listing instructions about what to do next, including any information they demand from you, how to pay, who you want them to pay, etc.
Send Your Funds
Next, you need to instruct your bank to send Halo Financial the money to pay for your currency, which can be achieved easily either via cheque or electronically (BACS/TT wire/CHAPS). You would receive an email of confirmation once your funds are received.
Receive the Payment
Once all the above processes are successfully completed, Halo Financial would arrange swift payment of the revenue to your beneficiary account. You will receive a confirmation email after the payment has been made, and if necessary, they would send an email to the recipient, notifying them of the incoming proceeds.
My Experience with Halo Financial
Having had to use Halo Financial four to five times to transfer funds from UK to USA during emigration, I found their services highly competent, useful, and oriented towards customer satisfaction. All my interactions with Halo Financial have been conducted in the utmost courteous and professional manner.
Their website is very simple to use and incorporates a plethora of valuable information, needed for currency exchange. The rates I was offered were very competitive and the transfers were quick and secure. Their top-notch foreign exchange expertise can help you minimize costs and avert unpredicted exchange rate fluctuations from injuring hard earned profit margins.
As all the Halo Financial reviews would tell you, I was met with a team of highly professional staff, which had expert knowledge in providing customized solutions, tailor made to my apprehensions. The staff was transparent and extremely helpful about every aspect of the transaction. In addition, the dealer was quite dedicated and provided prudent advices about when to move or not to move your money.
The competitive currency exchange rates always aim to beat the next contender and are worth phoning for a comparison. The money transfer was speedy and smooth, sometimes on the very same day, but nonetheless in less than 24 hours. To put it in a nutshell, it was a seamless experience; helpful, prompt, and highly recommended.
How Do You Register at Halo Financial
To register at Halo Financial, an individual has to fill up a form, that entails inputting data pertaining to the applicant’s residence, means of contact, chosen services, and a proof of identity.
How much does it Cost to Use Halo Financial?
Money Transfer is charged at a steady rate of £15 for transactions less than £5,000. However larger transactions incur no overheads. In addition, despite the geographical locations, any currency transfer conducted before 12 PM are cleared on the same day. It is a known fact that getting acquainted with the market fluctuations is the key to garnering the best exchange rates.
For a currency exchanging patron, with only a rudimentary knowledge of the ups and downs of the marketplace, learning the market trends is time consuming. On the other hand, Halo Financial employs expert currency dealers to grant professional advice to individuals aspiring to transfer money, alleviating the need to splurge time and efforts in studying the much capricious market. With a transparent pricing policy, you would never be caught up with commissions or hefty set up fees. This grants a momentous saving over the fees charged by banks, which can be as high as £40.
How long does it take to Transfer Money Abroad with Halo Financial?
The required time depends on the currency that is being transferred, where it is sent, and how expediently the beneficiary bank would credit the beneficiary account. Canadian Dollars, Euro, US Dollar, and Pounds Sterling can be transferred for same day value. This means that in most cases, the beneficiary account would be credited on the same day. On the other hand, most currencies such as Japanese Yen, South African Rand, Singapore Dollars, Hong Kong Dollars, New Zealand Dollars, and Australian Dollars, are known as “next day” currencies, since the beneficiary account would be credited the next day for them.
Is Halo Financial Safe and Reliable?
Halo Financial complies with the highest measures of international security standards when it comes to safeguarding the client funds transfer. It isin line with all anti-money laundering procedures to protect their business from money laundering, terrorist financing, and proceeds to crime. They also keep all client money in segregated client transaction accounts located at Barclays Bank.
Halo Financial is authorized by the Financial Conduct Authority as per the requirements of the Payment Services Regulations 2009 for providing services related to payment. The corresponding Reference Number is 528727. It is also authorized by HM Revenue & Customs (HMRC) as a licensed Money Service Business (MSB), with a registration number of 12197454.
Which Currencies Does Halo Financial Support?
Halo Financial can buy and sell the vast majority of freely tradable currencies. These include:
- Australian Dollar
- British Pounds
- Canadian Dollar
- Japanese Yen
- New Zealand Dollar
- United States Dollar
- Croatian Kuna
- Czech Koruna
- Danish Krone
- Hong Kong Dollar
- Hungarian Forint
- Israeli Shekel
- Moroccan Dirham
- Norwegian Krone
- Polish Zloty
- Slovakian Koruna
- Singaporean Dollar
- Saudi Riyal
- Swedish Krona
- South African Rand
- Swiss Franc
- Thai Baht
- Turkish New Lira
- United States Emirates Dirham
What Are Others Saying About Halo Financial
Many clients say that during their transactions with Halo Financial, phone calls were answered quickly by well spoken staff. On top of that, transactions and instructions were undertaken promptly. They described the service as efficient, reliable, trustworthy and courteous.
Customers have been reported to say that their interactions with Halo Financial have always been conducted in a courteous manner. These guys are highly proficient and always have the client as their priority. Halo Financial have provided the support many medium sized business require in the currency markets. Their expert advice, one-to-one service and knowledge of the markets assists many business to convert funds at a competitive rate over several years. That's why their clients continue to utilize their services in both spot and forward contracts.
Halo Financial Facebook and Twitter Page
You can follow them on Facebook and Twitter and stay up to date on the latest news in the industry.
My Rating of Halo Financial
The services of Halo Financial are commendable in all aspects, especially in regards to their services, customer experience, and transparent pricing. Albeit sometimes the transactions could be prone to delay, Overall, I would give it a rating 8/10.