How do I book a currency forward contract and fund later?

• Go to “Foreign Exchange” (If you don’t have a Foreign Exchange tab on your interface, you can instead go to “Payments” > “Book FX trade“)

• Choose the currency you wish to sell and the currency you wish to buy
• You can enter the amount in the funding currency or the buy currency
• Next, select a settlement date

As you’re booking a forward contract, we’ll be charging you 5% of your sell or buy amount as a deposit. Please ensure that you have enough funds in your sell or buy currency by the time the deposit is due. There will be no deposit charged if the contract duration is less than 3 days and the amount is less than 50,000 GBP and if the contract duration is less than 10 days and the amount is less than 10,000 GBP.

• Review your trade details and click “Confirm trade“

After you’ve successfully booked the forward contract, your rate will be valid for your booked amount until your settlement date. You can book payments with the forward rate to make payouts or settle into your World Account in the buy currency.

If no payments are created, the system will automatically make the trade and settle the funds into the corresponding currency account. If no corresponding currency account is available, the trade will be cancelled and you’ll be charged a fee.

• To book payments with the trade, you can click on “Create a payment” directly on the results page

• Alternatively, you can also book payments for this trade by going to “Foreign Exchange” > “FX trades“, where you can locate the trade and click on “Add payment“

• Next, you can select a payee and select the purpose of payment
• You can also choose to settle the funds into your account

• Enter the payment amount and select a date
• Click on “Next step“, you’ll need to verify via Authy or SMS code

• After reviewing your payment details and clicking “Confirm payment“