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| Whatever your reasons for buying foreign currency, whether you're a corporate client, or an individual buying a property abroad, emigrating or importing a car, you will certainly be looking to benefit from the best possible exchange rates. A favourable rate can mean the difference of hundreds, if not thousands, of pounds on a large-scale transaction. |
| Currencies Direct is the market leader in commercial foreign exchange. By continually striving to improve the services we offer, we aim to give our customers better value and to fulfil all their currency needs. At Currencies Direct, we buy currency in bulk and pass the savings on to our customers, irrespective of whether they need to make regular transfers, or a one-off, lump-sum payment. |
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Your Options When buying currency there are a number of options available to you:
• Spot transaction
With a 'spot' transaction the currency is bought outright on the day. The rate is fixed and the full amount must be paid in full within two working days.
•Forward transactions
Forward transactions give you the ability to fix a rate up to 18 months in advance.
There are two options available:
•Fixed forward
A fixed forward is, as the name implies, fixed to a set date in the future. If you know in advance the maturity date and the amount you need to pay, this is a good option for you.
•Time option
A time option works in much the same way as a fixed forward with the added benefit that you are able to take delivery of your currency up to 90 days prior to the maturity date.An added advantage of forwards is that you only have to pay a 5 -20% deposit to secure the rate.
The deposit is due within two working days of fixing the rate and is held in a trust account with our holding bank. With a fixed forward the balance is due on the date of maturity, and within the 90 day window up to the maturity date for time options.
A limit order enables you to place an order in the market to specify a desired rate of exchange. If the market reaches this level we will automatically activate your order.
You can also set a lower limit to protect yourself against market movements. Limit orders are good until cancelled.
•Our Service
Registering with Currencies Direct is simple. All you need to do is complete the registration form and fax it back to us along with two documents confirming your identity. These should be a copy of your passport or driving licence, and a copy of a recent utilities bill.
Personal dealer As soon as you have registered with Currencies Direct you will be assigned your own personal dealer. Your dealer will watch the markets and inform you of any positive or negative changes in the foreign exchange markets which may affect your transaction.
Payment options Payments can be made electronically (TT or CHAPS), by cheque, direct debit, or Switch.
Your dealer will advise you of the quickest and most effective way to transfer your money, as we are unable to transfer funds until they have cleared.
Confirmation of payment can be sent out on the day that funds leave the UK.The maximum fee for all transfers is £15.Regular payment transfers If you need to make regular mortgage, pension or salary transfers, we can send your payments abroad for a maximum transfer fee of £5 each time.
Terms and conditions apply -
