Scholarbook is a German sports scholarship broker for US universities with more than ten years of experience. The placement agency significantly increases the chances of athletes to receive a scholarship in the US to benefit from the best possible support there. So far Scholarbook has been able to arrange scholarships for over 3,000+ track and field athletes, golfers, tennis players, swimmers and co. Thomas Bojanowski has been leading the company together with his co-founders since 2009. Because the business model means many expenses are paid in U.S. dollars, he has been looking for a corporate credit card where spending in foreign currencies is as cheap as possible.
But that was easier said than done. That's because most banks charge two to three percent exchange rate fees for payments in foreign currencies, as Bojanowski quickly discovered. No matter which house bank he researched, there was little difference in pricing.
"I couldn't find any institution that charged less than two percent for payments in foreign currencies. Two to three percent doesn't sound like much at first. But when Scholarbook spends in U.S. dollars, a lot of costs add up. Paying foreign currency fees of this amount over and over again is a significant cost factor," reports the co-founder. At first, he couldn't find an inexpensive credit card, so he wanted to abandon his search and simply apply for a corporate credit card at a conventional institution. But fortunately, he then came across pliant online.
With the modern, virtual corporate credit card from pliant, the price for exchange rate fees suddenly differed greatly from that of the house banks. Because pliant does not charge such a fee at all. "Unlike the offers from Sparkasse, Deutsche Bank and Co, pliant even offered me 0.42 percent cashback on spending in U.S. dollars instead of an exchange rate fee. That means not only do I not pay a foreign currency fee, but I also get money back!" the co-founder expresses his enthusiasm.
Now, when Bojanowski uses his pliant credit card for US dollar payments, the official VISA exchange rate is applied - all without any surcharges or additional fees. "With pliant's cash back on foreign currency spending, which is absolutely unique among all the credit cards I've compared, I'm now saving 2.42 percent to as much as 3.42 percent in fees. A real win for Scholarbook!" sums up Bojanowski.
Do you also frequently pay expenses in foreign currencies? This is quite common nowadays. After all, costs for software such as Atlassian, Amazon Web Services and other cloud solutions are often paid in US dollars.
With the exchange rate calculator, you can easily determine yourself which exchange rates pliant applies to foreign currency transactions. Please note that exchange rates can fluctuate daily.
Do you and your employees also pay a lot of expenses for services and products in foreign currencies? Then you should check your current corporate credit card to see how many fees you pay for it and compare it to pliant. You will see: Most likely, the pliant credit card is the cheaper and more convenient solution for you.
Therefore, it's best to contact pliant right away and save cash with every expense. For all expenses in foreign currencies you will receive 0.42 percent cashback. In addition, you also receive up to five percent cashback for expenses in euros for office supplies, hardware, travel and cloud and marketing expenses, for example!