This is the simplest contract of them all. As the name suggests, it involves buying currency ‘on the spot’ and taking the live market exchange rate on the day at that specific time.
Spot contracts are used if you need to make an international payment straight away.
Single or multiple payments can be sent out to beneficiaries the same day or in one or two days’ time depending on the currency purchased.
How does it work?
You would simply email or call us about your requirements. We will then quote you a price to either buy or sell your currency based on the live exchange rate. For our corporate and private clients, we will always work to a fixed pre-agreed margin and discuss all fees as appropriate.
If you do not know what margin your bank or currency supplier is charging you then there is a very good chance that you are been charged too much for your spot transactions.
If you decide to go ahead, we will fixed this rate in the market for you and take care of the whole process and payment through our trusted chosen partners, who are all authorised by the Financial Conduct Authority (FCA) as an ‘Authorised Payment Institution’ API under the Payment Services Regulations 2009.
Why South West Foreign Exchange?
With 18 years in the foreign exchange industry, we offer a prompt, friendly and professional service. However, without the overheads of many other foreign exchange companies and the overinflated charges imposed by banks, ours is a more cost-effective service.
Please email us or call us on 01548 857009 today to discuss your requirements and we will ensure your transfer is as seamless as possible.