Manage FX

Keep your transactions simple and secure when you work with businesses overseas.

Manage FX exposure

When overseas markets rise and fall, foreign exchange rates fluctuate. If you trade internationally, you know how important it is to protect your business from such exposure.

Forward Exchange Contracts (FECs)

An FEC is an exchange of currency on a future date, at a range agreed today.

  • Forward exchange contracts - fix a foreign exchange rate for a future date.
  • Manage FX exposures in major currencies for up to 3 years.
  • FEC trading limits are subject to credit approval.

Spot Foreign Exchange

A foreign spot deal is the simplest way to buy or sell foreign currency.

  • Foreign exchange conversion rates in most currencies, for value spot (two clear business days)*
  • Quotes for same day (TOD) & value tomorrow (TOM) cut off times apply to TOD deals.

Foreign Currency Accounts

These deposit accounts allow you to manage and control your international cash flow.

  • Sending and receiving payments in foreign currency
  • Make investments in foreign currency

Foreign Currency Options

This product solution provides the buyer of the option the right to buy or sell once currency amount at an agreed rate on a specified delivery date.

  • Foreign currency options to business customers
  • Active hedging of foreign exchange risk for future obligations
  • Options are available for exposures equal to or in excess of AUD $50,000.

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Import/Export

Managing your international trade is easy. When you import and export goods, knowing your rights and ensuring the security and protection of your business is essential.

Trade advance

A trade advance provides funding for up to 180 days for import, export or domestic stock purchases, allowing your business greater cash flow flexibility.

Import letter of credit

An import letter of credit allows you to improve your cash flow by deferring advance payments for goods, and gaining more favourable payment terms.

Export letter of credit

Once you have received a letter of credit issued by the buyer's bank, we can ensure you receive payment.

  • We do this by 'confirming' the letter of credit to take on the risk of obtaining the payment from this bank.

Documentary Collections

Documentary collections are a secure way to control your export or import documents.

  • Well-established bank to bank document transmission processes provide greater control over international payments.

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Payment methods

If your business sends or receives funds in foreign currency, we have a range of international payment methods to help streamline this process.

International Money Transfers (IMT)

A Telegraphic Transfer (or international money transfer) is a quick and reliable way to send or receive funds overseas.

  • Send funds in over 25 currencies to destinations worldwide via e-banking.
  • Request Telegraphic Transfers from your nearest branch.
  • Receive an IMT in most foreign currencies and process a direct credit to your Bendigo Bank account.

Sending International Drafts

An international draft is a secure, cost effective way to send non-urgent payments overseas.

  • Available in 16 major currencies
  • Acceptable in most countries
  • Available to Bendigo Bank account holders from any of our branches

Receiving Foreign Cheques

Deposit foreign cheques, international money orders or international bank drafts directly into your Bendigo Bank account.

  • A 28 day hold is required on the foreign cheque then converted into your Bendigo Bank account
  • Improved exchange rates for foreign cheques that are AUD30,000 or greater in value

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Manage my transactions

If your everyday business transactions involve dealing in foreign currency, you understand the importance of keeping track of your purchases and receipts.

Transaction accounts

No matter your size or the volume of your transactions, we'll have a transaction account to suit your needs.

Savings accounts

Savings accounts for all business types

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