If you are making regular payments overseas but always seem to be buying when the exchange rates are low, then setting up a Foreign Currency Account can save you a lot of time and money.

The strategy here is simple...buy the foreign currency when the rates are high.

For those that are too busy to keep an eye on the exchange rates, we do the work for you. As part of our usual service, we will call you anytime we see a good opportunity to buy your specific currency. Alternatively, you can tell us how much you need to buy and what rate you would like to buy at. Your order will then remain in our system until it is triggered or until a date specified by you.

When an order is triggered, we contact you and then transfer the funds into your foreign currency account. You can then access the funds at any time to send your payments overseas.

FREQUENTLY ASKED QUESTIONS?

HOW DO I SET UP A FOREIGN CURRENCY ACCOUNT (FCA)?

Unfortunately, we can not set up an FCA for you. Your bank is the best place to ask for information about setting up a new account.

ONCE I HAVE AN FCA, WHAT NEXT?

From here, you advise us of the method you would like to buy the foreign currency. Once we have purchased the currency for you, it will be transferred directly into your FCA. You can then make your payments to your overseas suppliers when it is convenient to you.

WHAT ORDER METHODS ARE POSSIBLE?

1. You can contact us at anytime and ask to purchase an amount of currency to be sent to your new FCA.

2. We will contact you when we see peak rates. Similar to point 1 above, but this way you are buying when the rates are good.

3. You can place an overnight order with us in the hope of achieving a rate better than today's. Bear in mind that your order will be automatically triggered. Consequently, you have the chance to secure a higher rate than today but if the rate is higher again in the morning, your order will have already been executed at the predetermined rate.

4. You can leave a standing order with us. This order will be placed in the system with no expiry period. We will contact you from time to time to discuss your order and revise if necessary.

HOW LONG CAN AN ORDER BE PLACED FOR?

An order to buy currency can be set in our system for any time period you specify. The majority of clients tend to place orders for the coming week but many will place an order for the coming month.