Think ahead... protect yourself and your money and lock in a forward contract today

Buying a house overseas and like the exchange rate where it’s at right now? A forward foreign exchange contract can lock in today’s rate, for settlement down the track.

If you need to transfer money on a set date in the future, a forward foreign exchange contract can:

  • Lock in your rate in advance
  • Allow you to buy or sell at your agreed rate
  • Protect you from fluctuating exchange rates that occur in the interim
  • Allow between two days and 12 months for settlement

The rate at which you exchange currencies is called the forward foreign exchange rate.

The nominated date for settlement is referred to as the maturity date – you do not need to pay the entire amount of money owing until the maturity date.

How does it work?

To work out the forward rate the system adjusts the spot rate for forward points. The difference in interest rates between the two currencies and the time to maturity is then calculated. A standard industry formula is employed when calculating forward points.

The International Payments Price Promise

We routinely check the exchange rates of our key competitors and all major banks and offer our clients the best overall price. If you find a cheaper price within 30 minutes, we’ll beat it.  That's the International Payments Price Promise. Find out more.

Compare us with your bank today to find out how we can make your essential transactions cost effective and hassle free.

Register now and benefit from our market leading rates.

Contact us to speak to our customer service team 24 hours a day Monday – Friday for assistance with forward foreign exchange contracts and our many other services.

Travelex International Payments service is brought to you by OzForex

 

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OZForex Money Transfer Services

The Travelex International Payments service is provided in Australia by OzForex Limited (ACN: 092-375-703) (“OzForex”).

 

Information on this website is intended for residents of Australia only.

 

This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.

 

Before acting on any general advice on this website, you should consider its appropriateness to your circumstances.

 

This website contains information obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. OzForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.

 

Neither OzForex, its related entities, nor any of its providers of information, have any liability to the user, or any other third party, for the accuracy of the information or models contained in this website, or for any errors or omissions therein, nor will OzForex or any of its providers of information have any liability for the use, interpretation or implementation of the information or models contained herein by any person.

 

Travelex receives 50% of net revenue arising from OzForex’s provision of Travelex International Payments services. Net revenue is the revenue arising from foreign exchange margins (or spread) and fees, less all costs incurred in providing the services including but not limited to, administrative costs, compliance costs and sales and marketing costs.

 

For further details refer to the OzForex Financial Services Guide.

 

Price Promise  *Conditions Apply. Refer to the International Payments Price Promise Terms & Conditions.

**Exchange rates are current at the time of conversion and are subject to change without notice. Exchange rates are indicative only and do not include fees and charges that may apply. Certain foreign currencies are not available under Travelex International Payment service.

 

OzForex is regulated in Australia by ASIC (AFS Licence number 226 484) © 2011 OzForex Limited ABN 65 092-375-703.