Here at Hermex, we understand that time is money for your business – and we want to help you manage both of those aspects as efficiently as possible. Fortunately, whether you’re making your payment overseas with a spot contract, a forward contract or a market order, executing a payment has never been quicker or simpler.
When you’re making a foreign currency payment with Hermex, there are three main stages that must be completed:
- You call your designated account manager and verbally agree the exchange rate of the currency required for your payment
- Your account manager then sends out a contract note detailing the payment, supplying the required banking co-ordinates and requesting beneficiary details
- You send the funds to settle the deal and said funds are sent to the beneficiary same working day
If you’re making a forward payment, you’ll need to send an agreed deposit amount of your total transaction. We can either return this when your payment is executed, or deduct it from the total amount as you wish.
The day on which your payment is completed depends on the type of contract you have chosen. Spot contracts, for instance, are generally completed on the same day, whereas forward contracts will be arranged for a desirable date in the future. However, because every Hermex account is taken care of by dedicated member of staff, your account manager will be able to liaise with you and explain when your international payment will reach its destination.
What are the key benefits of Hermex’s payment execution process?
- It’s easy – it takes less time to pick up the phone and speak to your designated dealer than it does to log on to a trading platform on your computer
- It’s flexible – you don’t have to be sat at your desk at work to make a payment. You can call from anywhere in the world with a phone connection and have your international bank payment underway in minutes
- It’s advanced – Hermex uses cutting edge trade technology to ensure that your payment is made as advantageously as possible
- It’s efficient – Hermex is able to process orders direct into the market, ensuring you always achieve the rate you have secured
- It’s quick – we use SWIFT (Society for Worldwide Financial Telecommunication) which means that funds can be delivered to the destination bank within seconds of approval
- It’s personal – every client order is matched into the market immediately, and we do not take positions against our clients
- It’s low risk – as a deliverable currency business our position in the market is always neutral, meaning we do not have loss making trading activities that have to be covered
Some international payment providers simply facilitate payment execution. With our experienced dealers, advanced technology, simple process and client focus, we enhance it, and use our inter-bank trading opportunities to get you the best possible exchange rate to suit the needs of you and your business.
If you’ve got a question about payment execution or any other aspect of Hermex’s foreign exchange services, give us a call on 0207 856 2490 or email email@example.com