Guthrie Farms has been breeding successful racehorses for many years, with many of their champions being sold to overseas stables.

When the overseas companies pay for the horses in US dollars into Guthrie's local bank account, the bank has been charging a 'foreign currency handling fee' of $50 and then converting the foreign currency at the bank's chosen rate. In many cases, this rate has been 2.5% higher than the going wholesale or 'interbank' rate.

Using LatitudeGT, Guthrie Farms would have saved unnecessary bank fees and approximately 2% on all their overseas earnings – on exports of $1.5million, that’s an annual saving of $30,000.