Foreign Exchange Services

Protect your profits with Foreign Exchange Services

International currency exchange rates can change with the wind, which means timing is critical when conducting business in foreign currencies. While most payments to or from foreign trading partners are in U.S. dollars, a growing number require that payments be made in their foreign-denominated currency.

Benefits of Foreign Exchange Services

  • Currencies can be bought or sold and payments electronically transferred to or from accounts around the world without being subject to excessive transfer fees, documentation charges or currency fluctuation risks.
  • Spot transactions lock in a current exchange rate and are used for immediate delivery of funds.
    • Executed with a two-day value date delay due to international time differences
    • Eliminates additional intermediary bank involvement in the transfer
    • Paying in foreign currency may save you money
  • Forward foreign exchange contracts enable you to purchase or sell a specified amount of a foreign currency on a set future date, at a rate agreed-upon when the contract is set.
    • If exporting, you can lock in a future exchange rate and protect against a fluctuation in the market which could adversely affect your profit margin prior to your receivables coming due.
    • If importing, you can establish a fixed value for payables, thereby securing your profit margin.
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