Settlement is the point when your transaction is complete and you can realign your finances accordingly, it is one of the most essential points in your global payment process. It’s the time when money actually exchanges hands, your payment is exacted and your transaction is complete.

The term settlement can also be referred to as maturity, it specifically refers to the date on which a buyer or seller must deliver the equivalent of the currency bought or sold, at the date agreed on the original trade date. This is typically the final date of payment at which point the principle is due to be paid.

When you register to make an international payment with Hermex, your account will be assigned to one of our knowledgeable and experienced designated dealers. Because we offer a bespoke, client focused approach to our payments, settlement dates vary between individual accounts. However, your account manager will be on hand to explain the specific settlement date for your chosen contract and payment method, whether you’ve chosen a spot contract, a forward contract, or another of our overseas payment options.

Regardless of whether you’re paying an individual, settling a bill or making a significant purchase like property or product, Hermex can help you to achieve the settlement date that you’re looking for, at the most advantageous rates available, so you retain as much of your profit as possible.

Many of our clients also ask about the possibility of ‘settlement risk’ when making their global payments. Here is some further information about what it is, whether you might be liable to it, and how Hermex endeavours to prevent it from occurring.

What is settlement risk?

Settlement risk is the possibility that a counter-party does not deliver a sum of money as agreed, when the other counterparties have already delivered their funds and completed their part of the trade. Here at Hermex, we take mitigating risk extremely seriously, and have processes in place to prevent settlement risk from affecting your global currency payments.

How does Hermex minimise settlement risk?

We only work with trusted UK counterparties to ensure the security of each and every one of our global payments. We take a proactive approach to all compliance and security issues, so no matter where we’re sending your money, you can rest assured that we’ll get it there with zero risk, on a date and rate to suit your needs.

  1. Hermex are authorised by the Financial Conduct Authority under the payment service directive 2017 (534547) for the provision of payment services
  2. Hermex has a HM Revenue and Customs registration for money laundering (12545818)
  3. Hermex is a member of the United Kingdom Money Transmitters Association (UKMTA).

For more details about the security of your funds when they’re in Hermex’s hands, please refer to our Security of Funds and Mitigating Risk sections.

Alternatively, if you have any additional questions about the settlement of your funds, or any other aspect of Hermex’s global payment solutions, please call 0203 026 4030 or email

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