FX Deals

Corporate Online lets you instruct live Foreign Exchange deals (FX deals) directly with the Bank. Any quoted exchange rate is valid for a short period of time and has to be accepted within 20 seconds. Previous FX deals instructed can be viewed and there's an indicative mid-rate exchange rate table.

With FX Deal, you can carry out Foreign Exchange (FX) deals directly with the Bank. You can, for example, move your funds held in your sterling account into your US dollar account.

Due to the nature of the FX market, where rates change constantly, all FX Deals must be authorised within 20 seconds to guarantee the quoted FX rate. For this reason Smartcard Service Users operating within Foreign Exchange do so under single signing authority. For your added protection, all movements of funds resulting from an FX Deal can only be applied to prearranged accounts called Standard Settlement Instructions.

To create an FX Deal

  1. Select the Foreign Exchange tab
  2. Complete the on-screen fields to specify your deal requirements (you can either specify the amount of the currency being bought or sold - but not both)
  3. Click Quote to obtain the live rate

ESigner window opens. The details of your deal will be displayed.

  1. If you are happy with the rate offered, click Sign & Submit. This must be signed within 20 seconds, or the quoted exchange rate will expire.
  2. Enter PIN
  3. Click OK

Confirmation of your completed FX Deal will be displayed.

You can cancel the deal at any stage during steps 1 to 4. After step 4, the FX deal will be actioned immediately. If the exchange rate offered is not what you were looking for, do not submit at this stage as you have the option to request another rate immediately or wait until later in the day. The exchange rates offered are live and change throughout the day.

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