A spot contract enables you take advantage of an exchange rate immediately and then transfer monies all within a very short timescale.
With the currency markets always changing, one of our expert team will be able to guide you when they feel is the optimum time to transact. Alternatively, if time is against you then a spot purchase will enable you to secure a rate and transfer with immediate effect.
Through our same day service* you’ll benefit from being able to settle transactions faster than the market norm of 48 hours.
You’ll also be able to take advantage of a settlements period of up to one week, during which your agreed exchange rate will be held.
*Same day service is dependent on funds arriving before 2pm and is only available for ‘same day value’ currencies.
Once you have agreed an exchange rate with your dedicated dealer you’ll receive confirmation of your trade.
In addition, if you are making or receiving payments to the same beneficiary on a frequent basis, mandates can be set up for future use and this will help to speed-up the settlement process.