First Direct Foreign Exchange Rates for Faster Payments Abroad

How can compare money transfer save you money

First Direct Bank Exchange Rates

First Direct Bank Exchange Rates for FirstDirect Foreign Exchange Faster Payments Abroad. range of trading options to send money & international payments. First Direct can provide this full range of international payment services because they are part of the HSBC Group, one of the largest banking. You will need to bank with the First Direct 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.

First Direct foreign exchange products include:

First Direct 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.

First Direct 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.

First Direct 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.

First Direct 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.

First Direct Bank Exchange Rates offer a wide range of foreign currency accounts in a range of currencies. These are suitable if you regularly make and receive payments in a particular foreign currency, travel to certain countries, own a property abroad or have surplus currency funds. International Personal Accounts (previously known as Foreign Currency Accounts) are available to 1st Account customers and offer immediate access to your funds.

Leave a review

Company Details

Moneycorp

Get a quick quote

Open Account with Moneycorp

Moneycorp are located at:
The Zig Zag Building, 70 Victoria Street, Greater London, SW1E 6SQ, United Kingdom

Company Location

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not Share your details!

Bank Exchange Rates Comparison

High St Bank Exchange Rate

All Rights Reserved: Copyright 2006 - 2018 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882