What is a spot deal?
Let’s say you need to transfer some money overseas and you like the exchange rate where it is right now - your answer is a spot deal.
When you make a spot deal you are locking in your desired market rate immediately and making an agreement to exchange one currency for another for payment within two days. This date is known as the ‘spot date. ’
The ‘spot date’ is almost always within two business days of the transaction.
The spot exchange rate is the rate at which the transaction is made.
If you are satisfied with the spot exchange rate you can confirm your deal on the spot and agree to settle within two working days.
The many benefits of a spot deal...
Why make your spot deal with us?
Register now to make a spot deal and benefit from our market leading rates.
Contact us to speak to our customer service team 24 hours a day Monday – Friday and find out more about spot rates and our many other services.
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