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The capital city of the U.S. is Washington D.C. but the largest city in terms of population is New York with almost twenty million residents. The U.S. is split into fifty states which all have separate laws and governance at a local level but are bound together into one federal area. The country is diverse with states such as Alaska in the North West and Hawaii in the Pacific being culturally and geographically very different from the forty eight states located in the mainland. Each state has its own capital city several cities have a population in excess of one million people. Los Angeles is the largest city in California with over twelve million residents and other major cities include Chicago in the state of Illinois, Dallas and Houston in Texas,

Banking is big business in America and it contains several world players. The largest five banks are JP Morgan Chase, Bank of America, Citigroup, Wells Fargo and Goldman Sachs and they account for in excess of half the asset base of the U.S. economy. The banking industry is dominated by a history of mergers and acquisitions so many banks with humble origins have grown to become huge conglomerates with a world presence

The United States of America (U.S.) is one the most popular destinations in the world for tourists and business travellers. It is known as the land of opportunity and, as a result, attracts many immigrants seeking a new life and people looking for business opportunities. Whether buying properties, sending money to relatives or conducting a business deal is the motive, the U.S. Dollar is one of the most widely traded currencies in the world and anyone looking to make a payment in U.S. Dollars could benefit from the use of a foreign currency provider.

Specialist companies dealing in foreign currency can often provide a money transfer service at a reduced cost to those provided by traditional banks. Their systems are no more difficult to use but their specialisation enables them to focus on a narrow market and generate huge efficiencies that are passed onto consumers. As currency trading is a core activity, they are often trading in greater volumes so can offer lower spreads – the difference between the rate at which currency is bought and sold. This generates a more competitive exchange rate for clients and, when coupled with lower costs of doing business or transaction fees, the overall cost of sending money in U.S. Dollars is often much lower than when using a bank.

It takes between one and two working days for foreign currency transactions to clear in the U.S. and this is the case whether a bank is used or the services of a foreign currency provider. Any individual making regular transfers could make significant savings by using specialist services as the lower fees would generate big savings over a sustained period of time.