Spot Contract, what is it? Learn more
A spot contract involves purchasing or selling currency at the current rate. This is often based on the urgency of your requirement, which will mean you are dependent on the market exchange rate at that time and on the day that the transaction needs to be made. This solution is useful if you need to make an immediate or urgent international payment.
Why use Smart Currency Business for your Spot Contract?
A spot contract through Smart Currency Business has been known to reduce your costs by up to 4% when compared to your high street bank, as well as reducing high transactional fees. Banks are often restricted in how they set their foreign exchange rates and currency exchange is not the banks’ primary business function. Smart Currency Business’ core function is to exchange money into different currencies for their clients and we offer a pro-active, solution led, service by providing currency guidance on market movements we help our clients to minimise risk.
Find out how much a Spot Contract could save your business
“When LOVE started with Smart Currency Business, the banks were still trying to compete, but Smart Currency Business kept getting more efficient, with a personalised service that gives us better rates with no hassle. In the end, the banks stopped contacting us, because they couldn’t offer us a better service.”Louis Sallas