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Barclays Existing customers only - Open an account to exchange money - A Barclays International bank account available in multiple currencies and will offer better exchange rates and reduced transfer fees if account is opened
As well as being one of the most recognised names in the banking industry, Barclays is also able to offer solutions for those who would like to send foreign currency abroad. Barclays customers can send foreign currency via two options. The first is the International Payments Service that allows customers to send money to 90 countries. Customers who wish to send non-urgent euro payments can do so using the SEPA credit transfer. Payments can be made to the Single Euro Payments Area, including EU and EEA countries.
In order to make an international transfer, customers enter the details of the recipient's account, including the SWIFT Bank Identifier Code. Those who cannot locate the details can make an international transfer using alternative methods. An International Drafts service can be provided via branch, which can then be mailed to the recipient. When a customer makes their payment in foreign currency, Barclays will inform them of the current rate before an order is confirmed.
Personal customers can send a daily amount of £10,000, or £5,000 if using Telephone Banking. Premier customers can send a daily amount of £100,000, or £25,000 if using Telephone Banking. Business users can send a daily amount of £1000,000, or £50,000 using Telephone Banking.
Barclays also has a range of solutions that can assist businesses in lowering any risk involved with the fluctuation of foreign currency. Barclays dedicated professionals will work with businesses to ensure that their foreign currency transfer needs are met. Spot Transactions allow business users to buy or sell foreign currency with a specified exchange rate of the settlement is going to be within two days. If a customer wishes to send money in the future, they can set up a Forward Transaction, which will transfer money at a fixed rate in the future.
Barclays offer a number of solutions to help make the transferring of foreign currency simple. Businesses are offered a number of services to help them manage their foreign exchange transfers. A risk assessment can also be carried out to ensure there is a minimum financial risk for a business when transferring foreign currency. Customers must hold a Barclays account in order to use the service.
Customers can apply for a Barclays account by visiting the website. The customer should retain a copy of the terms and conditions for their records.
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Barclays Head Office: 1 Churchill Place,, Greater London, United Kingdom, ENG E14 5HP
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