Frequently Asked Questions on Foreign Exchange

How can FC Exchange help with your foreign currency needs, and how does the process work? Our Frequently Asked Questions can help.

Can you beat my banks rate?

Where are you based?

Do you have access to the Asian and Australian trading hours?

How many currencies do you deal with?

What is your credit rating?

Are you FCA regulated?

How will I know my funds are safe?

What is a beneficiary?

What is the cut off time for same day payments?

Can you make same day payments?

Do you charge transaction fees?

How do I send funds to more than one beneficiary?

How do I send money to you?

How long will the payment take to credit my beneficiary?

How do I set up my onward payment instruction?

What reference do I use when making a payment to you?

How do I keep track of the funds throughout the process?

How do I tell you when I want my money to go?

How do funds appear in the beneficiaries account?

Do I get alerted when my funds are received in my account with you?

Can I send funds from another account such as a third party or family member?

When do I need to send my money to you for my onward payment to be processed?

Does the method I choose for sending you funds to you affect my trade?

What happens if my funds don’t arrive?

What details do I need to be able to send funds?

Can I hold a rate?

How do I find my trade reference number?

Can you help me with the timing of my FX purchases?

Can I take delivery of my contract early?

Who do I speak to when my dealer is away?

How do I book a trade?

What is a value date?

What does Spot mean?

What does Forward mean?

Can I cancel a trade after I have booked it?

How much can I transact with you?

How do I access your online system?

What do I do if I forget my password for FC Exchange online?

How do I view my balance on FC Exchange online?

How long does it take to open an account?

How do I get a statement?

What is variation margin?

Do you offer a Partnership programme?

What do I do if I am unhappy with your service?

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