September 24 2012.

The British Chambers of Commerce has announced a new partnership with Moneycorp, with the launch of a new foreign exchange service designed to help businesses trading internationally. Chamber Foreign Exchange is available to members of Accredited Chambers across the country, as part of an exclusive deal negotiated by the British Chambers of Commerce (BCC).

Chamber Foreign Exchange is a package of products to help companies to save money and reduce the risks of foreign exchange transactions. The service allows businesses to hedge currency risk, for example by fixing rates in advance, to help deal with currency fluctuations. In addition, businesses can benefit from competitive exchange rates, free online currency accounts, reduced transfer fees and fast, online transactions, as well as practical advice and a foreign exchange health acheck of their FX exposure.

David Riches, Commercial Director, British Chambers of Commerce, said: "Chamber Foreign Exchange is designed to help businesses manage foreign exchange transactions of all sizes. Firms are looking to new markets, particularly those outside the EU to grow their business, and so the importance of managing the risks associated with foreign exchange transactions is growing. According to the latest figures from the Office for National Statistics, more than half of British exports in the three months to May went to countries outside the EU, an increase of 13% on the same quarter last year. Moneycorp is a trusted and recognised provider of foreign exchange products and services and we're excited to offer Chamber members a new service to help them expand into new markets, and grow."

Paddy Earnshaw, Chief Commercial Officer, Moneycorp, said: "Chamber Foreign Exchange will help businesses trading internationally eliminate some of the risks associated with currency fluctuations. The service allows firms to improve their FX trading by fixing exchange rates through a range of tools, meaning not only will they protect themselves from currency falls in value but take advantage of any positive currency moves. In addition the Chamber Foreign Exchange service provides a sophisticated payments platform to ensure your FX payments are quick, efficient and secure/safe. We're delighted to be able to provide this service along with several exclusive offers and savings to members of Accredited Chambers, in association with the BCC."