Co-Operative Foreign Exchange

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Co-Operative Foreign Exchange rates reviewed. Co-op offers a wide range of options for you to send money overseas. Hence, You will need to bank with the Co-Operative bank exchange rates in order to utilise their foreign exchange services.

So when you’re doing business abroad, exchange rate fluctuations could impact 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 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.

Co-Operative Foreign Exchange

Co-Operative 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.

Co-Operative 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.

Co-Operative Currency options.
An option, without obligation, to buy or sell a currency up to a future specified date at a pre-agreed rate. So, By paying an ‘up front’ premium you can take advantage of positive fluctuations and enjoy protection from adverse exchange rate movements.
So consider Co-Operative bank exchange rates if you have a banned account with them and send money overseas.

Co-operative IBAN or BIC number:

IBAN or BIC number
'IBAN' is your International Bank Account Number.

'BIC' is the Bank Identification Code which identifies a specific bank. The 'BIC' for the Co-operative Bank is CPBK GB22.

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