Improvements to our Booked Foreign Exchange and international payment services


In October 2016, we’ll be introducing improvements that affect how you use Booked Foreign Exchange deals for international payments and transfers. Here’s what’s changing:

  • You won’t need to input the reference number of the FX deal into Connect to make an international payment or transfer anymore.
    • Our Connect screens are being updated so you can simply select which Foreign Exchange deals you’d like to use from a list of deals available.
    • You’ll find these changes in the ‘Make a Payment’ pages by selecting ‘Add Foreign Exchange Deals’ or in the Manage FX page, which you can access using the left-hand menu.
  • You’ll be able use up to 10 separate Foreign Exchange deals for each international payment or transfer.
    • For example, this means you can now book one Foreign Exchange deal, then separately book another Foreign Exchange deal, and use both for the same international payment.
    • The exchange rate that will apply for this payment will then be the weighted average rate of all the Foreign Exchange deals you’re using.
  • You’ll be able to use one Foreign Exchange deal for any number of separate international payments or transfers.
    • For example, this means you can now book one Foreign Exchange deal, then use it for two or more separate international payments.
  • In a limited number of circumstances, you may be able to ask for a Foreign Exchange deal to be ‘rolled over’ to the next working day.
    • For example, this means you can now book a Foreign Exchange deal maturing tomorrow, then if need you can roll that deal forward to mature on the following working day instead.
    • Please note that a fee will apply for this service. For more information please speak with your usual foreign exchange dealers.
  • You’ll receive an email notification for all Foreign Exchange deal bookings and cancellations.

Full Terms and Conditions (PDF Attachment)

Further support and FAQs

1. How do I book a Foreign Exchange deal?

By calling the FX Front Office team on 0800 015 4116, and selecting option 1 then option 1 again.

2. How do I use a Foreign Exchange deal for a payment?

By selecting ‘Make an international payment’ in Connect, clicking the ‘Add Foreign Exchange deals’ option, and selecting which Foreign Exchange deal(s) you’d like to use for the payment.

3. What do I do if Connect isn’t available?

If you’re having any problems accessing Connect, then please call the Connect helpdesk on 0800 085 1580. You can use a Foreign Exchange deal for an international payment or transfer without Connect by calling the FX Middle Office team on 0800 085 1240.

4. Will there be any changes to cut off times or settlement dates?

No, cut off times and settlement dates for Foreign Exchange deals and international payments will all stay the same.

Further information on cut off times and settlement dates.

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