Bibby FX Welcome Pack
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
A GUIDE TO YOUR FOREIGN<br />
EXCHANGE FACILITY<br />
AN EASIER WAY TO UNLOCK CASH AND<br />
EXCHANGE CURRENCY, ALL IN ONE PLACE
CONTENTS<br />
Delivering bespoke solutions, ..........3<br />
quality and expertise<br />
We understand your Foreign ............3<br />
Exchange needs<br />
Our Foreign Exchange products .....4<br />
What you need to know about..........5<br />
managing your Foreign<br />
Exchange Facility<br />
How our <strong>FX</strong> service works...................6<br />
for your business<br />
Useful information .................................8<br />
DELIVERING BESPOKE SOLUTIONS,<br />
QUALITY AND EXPERTISE<br />
A very warm welcome to you from <strong>Bibby</strong> Foreign Exchange. We look forward to<br />
working with you and are committed to supporting your foreign exchange (<strong>FX</strong>)<br />
needs now and in the future.<br />
By choosing us for your <strong>FX</strong> requirements, you can be sure that you are working<br />
with industry specialists who listen carefully and provide practical and flexible<br />
solutions that work. Our welcome guide provides everything you need to get<br />
started and manage your facility with us.<br />
If at any stage you have any questions about your facility with us, the <strong>Bibby</strong><br />
Foreign Exchange Trading Desk will be delighted to help.<br />
WE UNDERSTAND YOUR FOREIGN<br />
EXCHANGE NEEDS<br />
YOU BENEFIT FROM:<br />
• Over 35 years’ experience supporting businesses<br />
• Partnering with a truly global business operating in 44 locations<br />
across 13 countries throughout Europe, North America and Asia<br />
• A unique understanding of currency exchange and operating in<br />
international markets<br />
As a global company, we understand your needs and with a team of dedicated<br />
<strong>FX</strong> specialists it means there is always someone on hand to support. Our wealth<br />
of knowledge and experience ensures you receive the support you need when<br />
you need it.<br />
YOU WILL BENEFIT FROM:<br />
• Reduced exposure to currency<br />
fluctuations<br />
• Unlocking funding and exchanging<br />
currencies through one transaction<br />
• Flexibility to top up funding<br />
• Speedy currency exchange<br />
• Support when you need it<br />
• Our relationship with the British Chambers of Commerce,<br />
Institute of Export and The British Exporters Association<br />
2<br />
<strong>Bibby</strong> Foreign Exchange Trading Desk Telephone: 0203 817 7026<br />
<strong>Bibby</strong> Foreign Exchange Trading Desk Email: B<strong>FX</strong>@bibbyfinancialservices.com<br />
3
OUR FOREIGN EXCHANGE<br />
PRODUCTS<br />
We can offer 3 types of <strong>FX</strong> products:<br />
1<br />
2<br />
SPOT CONVERSIONS<br />
If you have an immediate requirement to buy or sell currency our spot<br />
conversions facility allows you to lock-in the currency rate for settlement<br />
within two working days.<br />
Funds can be converted and sent to your end recipient on the same day.<br />
We can make multiple payments if required and payments can be sent by<br />
standard or urgent transfer according to your requirements.<br />
FORWARD CONTRACTS<br />
If you have a currency requirement in the future and wish to protect<br />
against fluctuations in exchange rates we can offer forward contracts.<br />
Allowing you to lock-in a rate for settlement on a pre-determined future<br />
date.<br />
You benefit from a guaranteed rate enabling you to manage currency<br />
exposure and protect your business from fluctuations in exchange rates<br />
adversely impacting cashflow and profitability.<br />
Funds do not need to be transferred at the point of agreeing the forward<br />
contract, instead you provide at the time the exchange is to take place.<br />
The funds converted can be used to make multiple payments and can be<br />
sent by standard or urgent transfer as required.<br />
WHAT YOU NEED TO KNOW ABOUT<br />
MANAGING YOUR FOREIGN<br />
EXCHANGE FACILITY<br />
Combining your existing funding facility with our Foreign Exchange services,<br />
enables you to transact in the currency of your choice with ease.<br />
YOUR REFERENCE DETAILS<br />
Please quote your full company name as reference when contacting the desk and<br />
on all payments that you send to us going forward. This will enable the <strong>Bibby</strong> <strong>FX</strong><br />
Team to recognise your facility immediately and deal with your enquiry efficiently.<br />
CURRENCIES AVAILABLE<br />
We offer a comprehensive range of currencies from major to more minor currency<br />
choices. The <strong>FX</strong> Team will be able to provide you with full details of all the<br />
currencies we can sell, collect or hold on account as part of our service to you.<br />
CURRENCY ACCOUNT BANK DETAILS<br />
Details of our main currency accounts<br />
are listed here. Please quote your full<br />
company name as reference when<br />
paying into any of these accounts so<br />
that the <strong>Bibby</strong> <strong>FX</strong> Team can recognise<br />
the funds and process the trade<br />
immediately.<br />
BIBBY EUR BANK ACCOUNT DETAILS<br />
Account name: <strong>Bibby</strong> Foreign Exchange<br />
Sort code: 20-00-00<br />
Account number: 78142044<br />
IBAN: GB36BARC20000078142044<br />
BIC code: BARCGB22XXX<br />
3<br />
FORWARD WINDOW CONTRACTS<br />
With a forward window contract you benefit from a guaranteed rate that<br />
is set for an agreed period of time. You can drawdown part or all of the<br />
contracted value at any time from the start of the window period through<br />
to the date of the contract expiry.<br />
Funds do not need to be provided at the point of agreeing the forward<br />
contract, instead you provide at the time the draw down take place.<br />
BIBBY GBP BANK ACCOUNT DETAILS<br />
Account name: <strong>Bibby</strong> Foreign Exchange<br />
Sort code: 20-00-00<br />
Account number: 93266605<br />
IBAN: GB02BARC20000093266605<br />
BIC code: BARCGB22XXX<br />
BIBBY USD BANK ACCOUNT DETAILS<br />
Account name: <strong>Bibby</strong> Foreign Exchange<br />
Sort code: 20-00-00<br />
Account number: 55960399<br />
IBAN: GB67BARC20000055960399<br />
BIC code: BARCGB22XXX<br />
The <strong>FX</strong> Team will be able to provide you with details of all our currency accounts<br />
upon request.<br />
4<br />
<strong>Bibby</strong> Foreign Exchange Trading Desk Telephone: 0203 817 7026<br />
BACK TO CONTENTS<br />
<strong>Bibby</strong> Foreign Exchange Trading Desk Email: B<strong>FX</strong>@bibbyfinancialservices.com<br />
5
HOW OUR FOREIGN EXCHANGE<br />
SERVICE WORKS FOR YOUR BUSINESS<br />
We’ll take the complexity out of exchanging currency. There is no need to make<br />
multiple transactions or wait for bank clearing time and we can arrange payments<br />
out to almost anywhere in the world - all through one service.<br />
UNLOCK FUNDING AND EXCHANGE CURRENCIES<br />
THROUGH ONE TRANSACTION<br />
The released funds from your invoices can be exchanged to the<br />
currency of your choice and we’ll send payment on to your end recipient.<br />
FLEXIBILITY TOP UP FUNDING<br />
If you need to exchange more funds than are available through<br />
your Invoice Finance facility you can top up or transfer funds<br />
from elsewhere.<br />
REQUESTING A CURRENCY EXCHANGE<br />
You can transact in the currencies you need to with ease. You request<br />
a currency exchange, and then you can use your funding availability or send<br />
funds to us via bank transfer or a combination of both. If you don’t have<br />
sufficient funding available, this is the point you can transfer top up funds.<br />
We will use the money from your availability, or provided by you in top<br />
up funds to convert to the currency you require. Funds must be received<br />
by <strong>Bibby</strong> <strong>FX</strong> before payment can be released. Payments can be made on<br />
the same day or on the scheduled date of your choice.<br />
PAYMENT REQUEST TIMES<br />
Euro payment requests made by 2.00pm will be processed<br />
the same day.<br />
USD payment requests made by 4.30pm will be processed<br />
the same day.<br />
SPEEDY CURRENCY EXCHANGE<br />
We are able to exchange funds and send payments to your end recipient<br />
on the same day. Some currencies may however take a few days to clear.<br />
The <strong>Bibby</strong> <strong>FX</strong> Team will be able to advise you on individual currency<br />
clearing times.<br />
YOUR FUNDS WILL BE IN ONE PLACE<br />
You eliminate the need to transact multiple times and keep the money<br />
right up until you wish to exchange it. Making your funds work harder<br />
for your business.<br />
REDUCED EXPOSURE TO CURRENCY FLUCTUATION<br />
Fluctuations in exchange rates can adversely impact cashflow and<br />
profitability. We will give you the ability to lock in an exchange rate at a<br />
selected day’s price and schedule your payment at that rate for a future time.<br />
6<br />
<strong>Bibby</strong> Foreign Exchange Trading Desk Telephone: 0203 817 7026<br />
BACK TO CONTENTS<br />
<strong>Bibby</strong> Foreign Exchange Trading Desk Email: B<strong>FX</strong>@bibbyfinancialservices.com<br />
7
USEFUL INFORMATION<br />
OPENING TIMES<br />
Our office opening hours are 8.30-17.00 Monday to Friday.<br />
Please be aware of global bank holidays and the impact<br />
on receiving funds during these times.<br />
THE BIBBY FOREIGN EXCHANGE TRADING DESK<br />
You can contact the Trading Desk between 8.30am and 5.00pm,<br />
Monday to Friday on 0203 817 7026 or via email<br />
B<strong>FX</strong>@bibbyfinancialservices.com.<br />
The team will be able to answer any queries you may have.<br />
ADDITIONAL PRODUCTS<br />
If you would like to see how <strong>Bibby</strong> Financial Services can be of<br />
further help to your business, get in touch with your relationship<br />
contact who will be pleased to tell you about our additional<br />
products and services such as our asset finance and invoice<br />
finance products, as well as bad debt protection.<br />
BACK TO CONTENTS<br />
<strong>Bibby</strong> Foreign Exchange Ltd is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009<br />
(Registration Number 671893) for the provision of payment services.<br />
L2695
Change language