When one currency is exchanged for another at a future date, it is called a forward foreign exchange rate. You can save money with forward foreign exchange rates by using a forward foreign exchange contract (FEC).
An FEC will:
To calculate the forward rate the system adjusts the spot rate for forward points. The system then calculates the difference in interest rates between the two currencies and the time to maturity.
The International Payments Price Promise
We regularly check the rates of major banks and key competitors to ensure we give you the best overall price on your FEC – or we refund the difference. We are committed to matching the best possible overall price in the UK on your international money transfer quote. If you find a better price offered by another provider contact us and we will guarantee to beat that price. Click here for more information.
Please note that although the Travelex International Payments service is powered by UKForex, prices are determined by Travelex UK Limited.
Compare us to your bank and see for yourself how we can make those essential transactions both affordable and easy.
Travelex International Payments is proud to partner with UKForex to bring you this service.
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