CO OP Foreign Exchange


Co-Operative Foreign Exchange

Co-op offer a wide range of options for you to send money overseas. You will need to bank with the Co-Operative in order to utilise their foreign exchange services.

So when you’re doing business abroad, exchange rate fluctuations could impact on your bottom line. Managing the potential risks provides protection for your business and even helps you take advantage of changes in currency rates.

Co-Operative foreign exchange products include:

Spot foreign exchange

A straightforward but potentially high risk method of buying or selling foreign currency. A spot foreign exchange contract is a binding obligation to buy or sell a set amount of currency at the current market rate, for settlement after two working days.

Forward foreign exchange

This is a contract to buy or sell a set amount of currency at a pre-agreed rate of exchange, for delivery on a future date (typically within one year). It allows you the choice of accurately forecasting and managing your cash flow and costs, or protecting your profits. The price is based on the spot rate when the deal is booked, with an adjustment that reflects the interest rate difference between the two currencies involved.

Time options

An option to buy or sell a currency at a pre-agreed rate, until a pre-arranged future date. Time options offer flexibility and protection from adverse exchange rate fluctuations. There is no upfront premium but you must still complete the sale or purchase by the final maturity date, even if exchange rates change for the worse.

Currency options

An option, without obligation, to buy or sell a currency up to a future specified date at a pre-agreed rate. By paying an ‘up front’ premium you can take advantage of positive fluctuations and enjoy protection from adverse exchange rate movements.

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CO OP Foreign Exchange are located at:
52 Brook Street, Greater London, W1K 5DS

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