Exchanges Conducted via Central Bank
NOTE: We only facilitate exchanges against currencies that offer a discount to us…. The Exchangor must offer a discount to the favor of the Currency Provider on their offer to Exchange Letter … We the currency providers DO NOT provide a discounted or “bonus” currency to the Exchangor.
The Currency Provider is a government-licensed currency exchange company authorized to conduct exchanges via the Central Bank. Uniquely, what we offer to the Exchangor is an off-market, "discount", currency exchange service VIA THE CENTRAL BANK for Any currencies - Any amount - Anywhere in the world. And, of course, commission from the Exchangor’s Side is entirely open - starting with YOU and to split with any one you want to.
RULES OF ENGAGEMENT:
“Applicant - Exchangor must be BOTH the cash/funds owner and the account signatory of records on the bank account.
Applicant/Exchangor is require to submit the following documents with the application to the Program Director in Order to get Engage”
1- Color –Scanned Copy of the Offer to Exchange (Check Forms on the enclosed attachment) If is necessary adjust the Gross% and the Net% of your Exchange Offer as needed.
2- Color –Scanned Copy of current (i) Account Statement (no bank officers’ signatures needed), or (ii) Bank Tear Sheet (no bank officers’ signatures needed), or (iii) Bank Confirmation Letter (specimen text enclosed as attachment) evidencing funds sufficient to cover First Tranche.
3- Color –Scanned Copy of Client Information Summary (format enclosed as attachment)
4- Color –Scanned Copy of Funds Declaration (format enclosed as attachment)
5- Color –Scanned Copy of Account Signatory’s Passport
The currency exchange is conducted, preferably, on a bank-to-bank basis, via SWIFT MT 103 / Field 23; or, alternatively, ledger-to-ledger, in the Currency Provider’s bank (HSBC). Exchangor’s currency moves first.
STEPS TO FOLLOW:
1. The Exchangor/Mandate submits a signed “Offer to Exchange”, along with the relevant DOCUMENTS and application information required for compliance purposes. See “Offer to Exchange” to check all required documents.
2. The Currency Provider conducts the necessary security checks on the Exchangor. Once the Exchangor is “cleared”, the Currency Provider contacts the Exchangor directly, via telephone, and the
Parties commence discussions regarding the proposed currency exchange transaction. Principal-to principal.
3. The Parties, once agreement is reached, execute a standard “Foreign Currency Exchange Agreement” appropriate for the proposed currency exchange transaction.
4. When the Parties are ready to proceed, the Exchangor sends the transaction amount (or first tranche), via SWIFT MT 103 / Field 23, or any other agreed method to the Currency Provider’s nominated account.
5. On receipt of the Exchangor’s currency, the Currency Provider conducts the exchange and remits the requested currency, less the agreed discount (but including the “Exchangor” side brokerage fees), via SWIFT MT 103, to the Exchangor’s nominated account.
TRANSACTION CONDITIONS