Foreign Exchange
For business involved in importing or exporting, or where business activity is denominated in foreign currency, managing your foreign exchange exposure is critical.
Our foreign exchange advisers are committed to providing timely and relevant financial market information, promoting effective management of currency risk. Products and services include spot and forward exchange contracts, foreign currency at-call deposits and loans, foreign currency term deposits and loans, foreign currency options, foreign currency swaps and participating forwards.
We can provide:
- Great customer service and the latest foreign exchange information
- Daily foreign exchange commentary email
- Foreign exchange watch orders e.g. stop loss/take profit orders
- Transactions via e-banking
Foreign Exchange Products and Services
Spot foreign exchange
Bendigo Bank is able to provide you with foreign exchange conversion rates in most currencies for value SPOT (two clear business days). In addition we can provide quotes for same day (TOD) and value tomorrow (TOM). Cut off times do apply to value TOD deals.
Forward Exchange Contracts (FEC)
Forward exchange contracts are available to customers (subject to credit approval) for periods up to 3 years in all major currencies. These FECs offer you the ability to lock in a fixed exchange rate for a specific maturity date, and can assist you in managing your foreign exchange exposure by eliminating unfavourable currency movements.
Foreign Currency At-Call
Deposits/At-Call Loans Bendigo Bank offers “at call” foreign exchange currency deposits to assist with day to day liquidity management and to help manage your exposure to currency movements. At-call deposits are available in most currencies. Bendigo Bank is able to provide “at-call” foreign currency loans in most currencies (subject to credit approval).
Foreign Currency Term Deposit/Term Loan
You may wish to invest or borrow foreign currency for a fixed term. If so, Bendigo Bank is able to provide fixed term interest rates of the currency selected for your desired term, with interest paid at maturity. Loans are subject to credit approval.
Foreign Currency Options
We offer foreign currency options to wholesale customers for active hedging of foreign exchange risk for future obligations. A foreign currency option gives the buyer of the option the right to buy or sell an amount of foreign currency at an agreed rate for a certain delivery date. Options are available for exposures equal to or in excess of AUD $50,000.
Foreign Currency Collar
A Collar involves you buying an option from us and simultaneously selling an option to us. It allows you to:
- protect against the risk of the spot exchange rate on the expiry date being below a specified worst case strike rate; and
- to benefit from the spot exchange rate on the expiry date being more favourable than the specified worst case strike rate up to a specified best case strike rate.
Foreign Currency Order Watch
We offer an order watch facility in most currencies which allows you to leave orders, where you specify the exchange rate and amount at which you will be willing to buy or sell a specified currency. Orders will remain in place until filled or until you advise Bendigo Bank that the order is to be cancelled or amended. The minimum amount for an individual foreign exchange order is AUD$20,000. The bank offers the order watch service on a best endeavours basis.
Foreign Exchange On-line
Bendigo Bank also provides customers with the ability to manage FX payments on-line via the Bendigo Bank e-banking platform.
Personal Foreign Exchange & Travel
Please refer to the following link for further information on Personal Foreign Exchange & Travel:
http://www.bendigobank.com.au/personal/international.asp
Contact Us
Please contact us to speak to a Financial Markets specialist to discuss a Foreign Exchange solution for your business needs |
