VFX Foreign Exchange Guide
First, open an account
Opening an account is simple and free by completing the application here. Once your account is open you can buy and sell currency online or by contacting your personal currency dealer.
To book a transaction online
Sign in with your log in credentials and set up your account preferences.
You will have access to over 100 currencies to buy and sell (restrictions may apply).
Choose which currency to buy or sell, which value date (delivery date), the amount and then click ‘Get Rate’.
If you are satisfied with the rate click ‘Accept’, then choose the ‘Settle Now’ option to setup the onward payment, or “Settle Later” if you wish to retain the currency on account.
Check the amount of currency to pay, choose the payee, add the reference and then send the payment.
Send your cover payment to VFX Financial PLC to fund your currency purchase. Select the VFX settlement account in the currency you wish to pay in from the Quick Menu. Click “Account”, then “Settlement” and a list of currencies will be displayed. If you require an additional currency click the drop-down box and the settlement instructions relating to that currency will be displayed.
VFX will automatically email you a credit advice when your funds arrive.
Sending a payment
Log in to your account and select “Quick Menu” then click “Send Payment”. Select the currency that you wish to send and then choose the beneficiary. You can also send multiple payments in one instruction. VFX will automatically send you an email confirming that a payment has been made. You can also store the beneficiary email address within the payee record which will enable an email advice to be sent to the payee when the payment is sent.
To book a transaction with your personal currency dealer
Call your personal currency dealer for an exchange rate quote.
Confirm your order by phone.
Email your account manager new payee details (if required). Please note, security checks will need to be completed to set up a new payee (Payee details will be stored for future reference).
Arrange a bank transfer to fund your purchase of foreign currency.
An email confirmation will be sent to you (and your payee if required) when your payment is sent.