Volopa client story
"The ability to have customised solutions for my care business is what makes Volopa so handy for me"
- Palvi and Jay, Serene Care
About Serene Care
Serene Care was born out of a strong, genuine desire and need to enhance and enrich the lives of people in need of care and support. It was created by a team that is passionate about providing residents with a future to look forward to.
Specialising in Dementia care, the goal is to provide a “Home away from Home” and meet residents’ desire to live in smaller, more intimate “boutique” properties with more independence, varied dining options suited to their dietary requirements, and stylish interior design with all the facilities and features to provide a comfortable and safe environment as frailties of age become a reality.
The Problem
What problems were you looking to fix?
In April 2022, we joined Volopa as a way to ensure that trusted staff could take on the responsibility of managing our finances without us having to worry about financial abuse or the risk that someone could access our business bank accounts.
How did you manage your team spending before Volopa?
As a growing business, we’ve been through a lot of changes. But one of the biggest was when we started using Volopa.
Prior to us having Volopa cards, all the spending was done by the directors of the home where endless lists of items were being sent to purchase constantly, which took up so much time and effort to get all the correct items ordered on time. This created a lot of pressure to get everything done and led to things occasionally being missed; not giving us much time to focus on the actual running of the business.
All the business ordering was extremely stressful especially as we are now in a growth phase and are busier than ever.
The Solution
What are the benefits that Volopa's solution provides for your team spending?
We can log into the Volopa dashboard and see what our staff are spending on. We also get copies of emails every time someone uses the card, so we can keep track of how many coffees they’ve bought and how much lunch has cost us this week.
With bespoke spending limits depending on person and transaction type, we can personalise the service to suit our business.
What are the most useful features for you?
We love the features that Volopa offers. Some of our favourites include:
- Automated emails that notify us as soon as a purchase is made
- The ability to increase or reduce card limits when necessary
- The ability to merge or link with our accounting software
We also use QuickBooks to automate our accounting on Volopa’s Business platform. We find it super handy for keeping track of client invoices and expenses, as well as managing our accounts payable.
The Solution
How has Serene Care grown since you started using Volopa?
We are now buying our third care home and have a lot of head office staff whom we can trust to make purchasing decisions without our input. It has given back a lot more time and focus to us as directors. We have the comfort of knowing that there are spending limits and automated notifications advising us of purchases being made. The extra peace of mind of knowing we are also protected is invaluable. Our staff now have the freedom to get on with their work.
Smarter tools for smarter businesses
Our platform is packed with a number of helpful tools to save you time and effort so you can focus on the work that counts. Find out more about Volopa’s services online, including our multicurrency prepaid cards. Book a demo with our friendly sales team today.
Securing the best exchange rates
Generally speaking, both banks and payments providers charge a margin, typically via a commission or a percentage-spread, for converting currencies from the funding currency (what you send them) to the payment currency (what the recipient receives). Banks are traditionally risk averse to currency movements due to the size of the portfolio of client assets they hold in multiple currencies. Any shock movement within the currency market can amount to significant losses, and in a bid to mitigate this risk, banks tend to apply higher margins.
International payments providers generally take a different approach, utilising live rates which they transact with immediately. Using this methodology, they don’t need to hold on to funds, the risk is less, and margins can therefore be much lower amounting to better exchange rates for their clients.
Payment Speed
Just as a bank cheque takes time to deposit into an account, so does sending money from one country to another. International FX payments can often take days to reach your recipient if sent via your bank. This is because banks often use manual currency conversion processes and tend to send funds via costly legacy banking networks. If you wish to transfer funds quickly, banks may not be your best option.
Specialist payments providers have established “points-of-difference” in the international payments market through innovative solutions to enable same-day international payments using more robust platforms and security systems. Specialist payment providers tend to route international payments via newer alternative payment rails that are quick, low-cost and easy to track, meaning recipients receive their payments in full and on time, while payment initiators can stay up to date with their payment statuses.
Conclusion
Whilst a bank may provide familiarity, specialised payments providers can offer better FX and payments expertise, superior technology and more cost-effective exchange rates. Through the tailoring of solutions and streamlining compliance requirements, services provided are largely more client-centric and focused. This often amounts to lower fees and charges as well as a superior customer experience for their clients.
Volopa client story
"The ability to have customised solutions for my care business is what makes Volopa so handy for me"
- Palvi and Jay, Serene Care
About Serene Care
Serene Care was born out of a strong, genuine desire and need to enhance and enrich the lives of people in need of care and support. It was created by a team that is passionate about providing residents with a future to look forward to.
Specialising in Dementia care, the goal is to provide a “Home away from Home” and meet residents’ desire to live in smaller, more intimate “boutique” properties with more independence, varied dining options suited to their dietary requirements, and stylish interior design with all the facilities and features to provide a comfortable and safe environment as frailties of age become a reality.
The Problem
What problems were you looking to fix?
In April 2022, we joined Volopa as a way to ensure that trusted staff could take on the responsibility of managing our finances without us having to worry about financial abuse or the risk that someone could access our business bank accounts.
How did you manage your team spending before Volopa?
As a growing business, we’ve been through a lot of changes. But one of the biggest was when we started using Volopa.
Prior to us having Volopa cards, all the spending was done by the directors of the home where endless lists of items were being sent to purchase constantly, which took up so much time and effort to get all the correct items ordered on time. This created a lot of pressure to get everything done and led to things occasionally being missed; not giving us much time to focus on the actual running of the business.
All the business ordering was extremely stressful especially as we are now in a growth phase and are busier than ever.
The Solution
What are the benefits that Volopa's solution provides for your team spending?
We can log into the Volopa dashboard and see what our staff are spending on. We also get copies of emails every time someone uses the card, so we can keep track of how many coffees they’ve bought and how much lunch has cost us this week.
With bespoke spending limits depending on person and transaction type, we can personalise the service to suit our business.
What are the most useful features for you?
We love the features that Volopa offers. Some of our favourites include:
- Automated emails that notify us as soon as a purchase is made
- The ability to increase or reduce card limits when necessary
- The ability to merge or link with our accounting software
We also use QuickBooks to automate our accounting on Volopa’s Business platform. We find it super handy for keeping track of client invoices and expenses, as well as managing our accounts payable.
The Solution
How has Serene Care grown since you started using Volopa?
We are now buying our third care home and have a lot of head office staff whom we can trust to make purchasing decisions without our input. It has given back a lot more time and focus to us as directors. We have the comfort of knowing that there are spending limits and automated notifications advising us of purchases being made. The extra peace of mind of knowing we are also protected is invaluable. Our staff now have the freedom to get on with their work.
Smarter tools for smarter businesses
Our platform is packed with a number of helpful tools to save you time and effort so you can focus on the work that counts. Find out more about Volopa’s services online, including our multicurrency prepaid cards. Book a demo with our friendly sales team today.
Securing the best exchange rates
Generally speaking, both banks and payments providers charge a margin, typically via a commission or a percentage-spread, for converting currencies from the funding currency (what you send them) to the payment currency (what the recipient receives). Banks are traditionally risk averse to currency movements due to the size of the portfolio of client assets they hold in multiple currencies. Any shock movement within the currency market can amount to significant losses, and in a bid to mitigate this risk, banks tend to apply higher margins.
International payments providers generally take a different approach, utilising live rates which they transact with immediately. Using this methodology, they don’t need to hold on to funds, the risk is less, and margins can therefore be much lower amounting to better exchange rates for their clients.
Payment Speed
Just as a bank cheque takes time to deposit into an account, so does sending money from one country to another. International FX payments can often take days to reach your recipient if sent via your bank. This is because banks often use manual currency conversion processes and tend to send funds via costly legacy banking networks. If you wish to transfer funds quickly, banks may not be your best option.
Specialist payments providers have established “points-of-difference” in the international payments market through innovative solutions to enable same-day international payments using more robust platforms and security systems. Specialist payment providers tend to route international payments via newer alternative payment rails that are quick, low-cost and easy to track, meaning recipients receive their payments in full and on time, while payment initiators can stay up to date with their payment statuses.
Conclusion
Whilst a bank may provide familiarity, specialised payments providers can offer better FX and payments expertise, superior technology and more cost-effective exchange rates. Through the tailoring of solutions and streamlining compliance requirements, services provided are largely more client-centric and focused. This often amounts to lower fees and charges as well as a superior customer experience for their clients.
Securing the best exchange rates
Generally speaking, both banks and payments providers charge a margin, typically via a commission or a percentage-spread, for converting currencies from the funding currency (what you send them) to the payment currency (what the recipient receives). Banks are traditionally risk averse to currency movements due to the size of the portfolio of client assets they hold in multiple currencies. Any shock movement within the currency market can amount to significant losses, and in a bid to mitigate this risk, banks tend to apply higher margins.
International payments providers generally take a different approach, utilising live rates which they transact with immediately. Using this methodology, they don’t need to hold on to funds, the risk is less, and margins can therefore be much lower amounting to better exchange rates for their clients.
Payment Speed
Just as a bank cheque takes time to deposit into an account, so does sending money from one country to another. International FX payments can often take days to reach your recipient if sent via your bank. This is because banks often use manual currency conversion processes and tend to send funds via costly legacy banking networks. If you wish to transfer funds quickly, banks may not be your best option.
Specialist payments providers have established “points-of-difference” in the international payments market through innovative solutions to enable same-day international payments using more robust platforms and security systems. Specialist payment providers tend to route international payments via newer alternative payment rails that are quick, low-cost and easy to track, meaning recipients receive their payments in full and on time, while payment initiators can stay up to date with their payment statuses.
Conclusion
Whilst a bank may provide familiarity, specialised payments providers can offer better FX and payments expertise, superior technology and more cost-effective exchange rates. Through the tailoring of solutions and streamlining compliance requirements, services provided are largely more client-centric and focused. This often amounts to lower fees and charges as well as a superior customer experience for their clients.
Securing the best exchange rates
Generally speaking, both banks and payments providers charge a margin, typically via a commission or a percentage-spread, for converting currencies from the funding currency (what you send them) to the payment currency (what the recipient receives). Banks are traditionally risk averse to currency movements due to the size of the portfolio of client assets they hold in multiple currencies. Any shock movement within the currency market can amount to significant losses, and in a bid to mitigate this risk, banks tend to apply higher margins.
International payments providers generally take a different approach, utilising live rates which they transact with immediately. Using this methodology, they don’t need to hold on to funds, the risk is less, and margins can therefore be much lower amounting to better exchange rates for their clients.
Payment Speed
Just as a bank cheque takes time to deposit into an account, so does sending money from one country to another. International FX payments can often take days to reach your recipient if sent via your bank. This is because banks often use manual currency conversion processes and tend to send funds via costly legacy banking networks. If you wish to transfer funds quickly, banks may not be your best option.
Specialist payments providers have established “points-of-difference” in the international payments market through innovative solutions to enable same-day international payments using more robust platforms and security systems. Specialist payment providers tend to route international payments via newer alternative payment rails that are quick, low-cost and easy to track, meaning recipients receive their payments in full and on time, while payment initiators can stay up to date with their payment statuses.
Conclusion
Whilst a bank may provide familiarity, specialised payments providers can offer better FX and payments expertise, superior technology and more cost-effective exchange rates. Through the tailoring of solutions and streamlining compliance requirements, services provided are largely more client-centric and focused. This often amounts to lower fees and charges as well as a superior customer experience for their clients.
