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John Hall: Transparent and Efficient Foreign Exchange and Cross Border Payments for Individuals

Frank eXchange provides transparent and efficient foreign exchange and cross border payments for individuals who need to exchange and move money globely for identifiable goods or services. We back this up with a very personal service from our experienced team who are based around the UK.


Transparency means that we aim to show you all the charges, including the ones that the banks and other providers hide in their exchange rates.

Tell us about yourself?

I am from three generations of sock manufactures based in Leicestershire, then 13 years as a financial advisors. In the mid-nineties I was head hunted by Thomas Cook to join Thomas Cook Financial Services and Thomas Cook Global Payments who provided a service to companies moving money around the world on the back of their moving money for their Travelers Cheques and Bureau De Changes.

That business was sold to Travelex and I went to work for Travelex and left to set up a UK operation for a Candian foreign exchange and payments provider. Left there after two years and set up Frank eXchange as I believed that there was a gap in the market were providing a fully transparent service would find a foot hold with companies who had exposure to Foreign exchange and cross border payments.

If you could go back in time a year or two, what piece of advice would you give yourself?

Get advice, plan properly and monitor performance against your plan. If things are not going to plan, stop, think, review and change the approach. Involve the people who work with you and ask them for feed back and their ideas.

What problem does your business solve?

Transparency means that our rates are consistent and competitive as our customers can see the “mark-up” we are taking, whilst the banks and others hide this by only quoting the rate they are offering. Unfortunately this leads to every increasing charges and poor exchange rates increasing the costs to businesses and effecting their profit margins.

What is the inspiration behind your business?

Transparency means that our rates are consistent and competitive as our customers can see the “mark-up” we are taking, whilst the banks and others hide this by only quoting the rate they are offering. Unfortunately this leads to every increasing charges and poor exchange rates increasing the costs to businesses and effecting their profit margins.

What is your magic sauce?

Great people who work with me. I have worked with some very successful people who have built and sold great business. They all had a team of great people around them. I have tried to do the same and to evolve the team and the business

What is the plan for the next 5 years? What do you want to achieve?

We have a five year plan, with a share option scheme who those who make a meaningfull contribution to Frank eXchange. In five years time we may sell, some of the key people may buy out those who want to leave, or we might just carry on. The point is to have a plan and to have options and to work towards them.

What is the biggest challenge you’ve faced so far?

Expansion of the team, finding the right people and keeping the costs down whilst expanding. My first efforts of recruitment did not work for many reasons. I had to stop and take a good look at myself and the process and what I was offfering people and make changers.

How do people get involved/buy into your vision?

One of the biggest issues business have had over the last two years is being to get hold of someone to help them when something goes wrong or does not work, we have all spent hours on the phone in a que waiting to speak to someone. We have a policy of replying or calling back within the hour., and our experinced staff are all avilable, no call centre. Add that to our transparent approach to the charges and “mark-up” we are looking to work with businesses how have payments or receipts in a foreign currency, no matter how large or small the payments.

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