Forward Contracts
A Forward contract is an over-the-counter agreement with a bank or broker that enables you to buy a fixed amount of currency at an agreed exchange rate, on a pre-determined date in the future without paying the cost upfront. Please note, a deposit may be required.
A Forward contract allows you to secure an exchange rate for an extended period of time, protecting you from downside movement. Once secured, Forward contracts allow you to make payments as and when you need to.
Example
Exchange & send currency, in 3 easy steps.
Agree your rate
Once your account is setup, tell us the currency and amount you need to buy and we’ll quote you a rate via telephone, email or online - your choice!
Pay for your currency
Once you’ve agreed to a rate, you’ll need to pay for your currency. Send us the money by bank transfer before we make your payment.
Send to your beneficiary
Once we’ve received your funds , we’ll make your onward payment to a beneficiary of choice. Depending on the currency and destination, payments can arrive on the same day.