FX Facilities

Choose your Foreign Exchange Facility from a comprehensive range of Transactions, Forward Contracts, Options and Orders. Our efficient Purchase Process begins when you contact us with your currency requirements.

Purchasing foreign exchange?

Foreign exchange transactions:
This transaction converts one currency into another. Delivery of the currency normally occurs within two working days of the date the transaction was initiated.

Foreign exchange forward contracts:
A forward contract is an agreement between yourself and Tuatara  We lock in a rate of exchange today for currency to be purchased or sold on a future date. When an exchange rate is locked in you are protected from fluctuations for the duration of the contract. This gives you the benefit of fixing the cost of your overseas purchases or sales to provide certainty over your cash flow.

Foreign exchange options:
When you purchase a currency option contract you have  the right but not the obligation to sell or buy a specific amount of foreign currency at an agreed ‘strike’ rate on a specified future date. A premium is payable for this right, similar to buying insurance protection.

Orders:
We also place orders in the market. This enables you to take advantage of favourable exchange rates when you¹re unable to monitor the market. All we require is the desired exchange rate, the amount of funds needed and the time frame you would like us to monitor. If the rate is reached within the specified time frame, we will buy or sell the currency for you.

What does the purchase process involve?
The purchase of foreign exchange is simple. Contact us with your currency requirements. Our electronic systems make requesting currency quick and efficient.

We store standard information on file, which means when placing orders to certain beneficiaries on a regular basis; you don’t have to provide us with the details each time you contact us.

We confirm your transaction rapidly, to verify details and ensure the transactions accuracy. The process is designed to be simple and efficient, to enable you to concentrate on your core business activities.

We can receive currency requests via e-mail, freephone or fax. All we require are the currency details, the beneficiary details and your payment details.

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