Want to capitalize on a rate today for transfers in the future or lock in a budget rate for future transactions? A forward contract will allow you to fix a rate for up to 3 years, based on the interbank exchange rate at the time of booking – this gives you a guaranteed rate at which to transfer time and again. You might need to pay an initial deposit, then the balance will be due at the end of the contract. If the rates move against you, you may need to top up the deposit to keep the position in place. Your dealer will explain and discuss this with you before you book your forward.
Fees and charges
When we work with businesses, we'll agree a payment fee structure that reflects how much business we do together. These fees can range from $0 to $30 per transaction.
For online sellers, it`s free to open an account and we don`t charge fees for receiving money. There are also no monthly charges or any transfer fees.
If you are a private client,for transfers over $10,000 we won't charge you a dime, it`s FREE . For transfers under $10,000, it’s a $10 flat fee. You just need to make sure you are transferring over $1.000.
There may be varying correspondent and receiving fees from the banks who handle the transfer along the way but we will try to cover these where we can.
For more information on fees and charges, visit our FAQs