Forward Transactions

These are foreign exchange deals that are a binding obligation to buy or sell a certain amount of foreign currency at a pre-agreed rate of exchange, on an agreed future date ? this is often available for a maximum duration of 2 years.

Sterling (GBP) Settlement Options

• CHAPS payment
• BACS (online internet banking/telephone banking)
• Cheque*

TIP: You must ensure payment is sent before each value date allowing enough time for clearance according to payment method used. Please see payment table for further information.

Foreign Currency Settlement Options

• TT (telegraphic transfer) Only

TIP: You must ensure payment is sent before each value date allowing extra time for clearance on currencies being sent from a non-UK bank. Please see payment table for further information.

Forward Transactions

Late Payment / Extending Value Date

Please inform VFX at your earliest convenience if a payment will reach your account after the agreed value date. VFX may need to alter your buying/selling exchange rate to compensate for this.

Margin Call

Margin deposits may be up to 10% depending on individual transaction.