Foreign exchange services

Whether making an overseas payment, an international investment, or even buying a property abroad, our team of experienced treasury professionals can work with you and your private banker to deliver a range of foreign exchange solutions to suit your individual needs.

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What we offer

Our foreign exchange service is designed to complement your wider banking needs

We provide a comprehensive range of facilities for private high-net-worth clients and, with highly sophisticated price and market information systems at their disposal, our dealers quote immediately for all major currencies. Foreign currency receipts can be converted into the currency your account is held in and external payments can be made in any of the world’s major currencies. With our multi-currency banking options, we believe we can meet the requirements of the most complex portfolio.

Foreign exchange solutions

Our team of expert treasury professionals can help you

  • Spot foreign exchange

    A spot foreign exchange transaction involves the immediate conversion of one currency to another with settlement occurring within two business days – or sooner depending on the currency pair. We offer competitive pricing, and our Online Wealth Service allows you to transact across 225 currency pairs up to £50,000 (or currency equivalent). It shows you the exchange rate, so you can choose whether to transact, and the exchanged amounts are then settled over your bank accounts.

  • How we can help

    Our dedicated treasury team can provide indicative exchange rates for conversions of sums above £50,000. This service is available through your private banker.

Forward foreign exchange

What is forward foreign exchange?

Forward foreign exchange is an efficient way of protecting your currency exposures against adverse currency fluctuations. A foreign exchange transaction can be agreed for settlement on any future date determined by you, giving certainty over the conversion rate and proceeds received.

Frequently asked questions

Nedbank Private Wealth

What is foreign currency exchange?

Quite simply, foreign exchange is the value of one currency in relation to another, for example, how many US dollars you get for your sterling.

Why choose our foreign exchange service?

Our foreign exchange service can help with your wider banking needs. Our team of experienced treasury professionals can work with you and your private banker to deliver a range of foreign exchange solutions.

Are there risks involved in foreign exchange?

There are risks associated with foreign exchange but with our help, we can help to mitigate those risks for you.

How can I learn more about foreign exchange?

Find out more information on our Foreign exchange page or give us a call on +44 (0)1624 645000 where we will be happy to answer your questions.
Foreign Exchange Orders

Solutions, even when rates are not at your desired level

A foreign exchange order can be placed for sums of £100,000 or more (or the equivalent in other currencies) and can be held for a specific period of time – or left open until executed – as long as you continue to hold sufficient money in your account to cover the settlement. We offer three order types:

  • For Profit: By placing a for profit order your desired exchange rate will be monitored 24 hours per day.
  • Stop Loss: Can be used to build in protection against adverse market movements whilst keeping your profit options open.
  • One Cancels Other: A mixture of for profit and stop loss orders whereby you can achieve a desired rate, but still have protection against adverse market movements.

If you wish to know more about our FX Order products, please speak to your private banker.

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Latest Videos

More about our foreign exchange services

Brian Middlemiss answers some of the questions you may have about our foreign exchange services.

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Security and Confidentiality

We are here to protect you

We are well capitalised and retain levels of capital well above regulatory minimum requirements. We have a low-risk balance sheet with no debt servicing obligations and high levels of liquidity.

Our approach to liquidity management is very conservative, benefitting from a strong portfolio of high-quality negotiable instruments. Cash placements with third party banks are generally for periods no greater than seven days and Nedbank Private Wealth liquidity is very strong.

Corporate social responsibility

Recognising the impact and taking action

We support projects that help reduce the impact we have on our local and global environment. We work closely with local charities to help improve the communities in which we operate and, more broadly, we partner with Ecologi to offset more than our collective carbon footprint puts back into the environment.

Related case studies

Read about more clients we have helped

We have helped countless clients with their financial needs – some straightforward, some complex. Our bespoke approach, where we really get to know our high net worth clients, allows us to offer solutions that other wealth planners and private banks aren’t able to.

Want to find out more? Get in touch

We’re here to help you. Call +44 (0)1624 645000 or email [email protected]

Find out more about our teams in the UK, Isle of Man, Jersey and Dubai here

Frequently asked questions

Nedbank Private Wealth

What products and services do you offer?

We offer a wide range of wealth services at Nedbank Private Wealth. These include current account, fixed term deposit, Visa Platinum debit card and foreign exchange services.

What makes you stand out?

We plan your banking around your personal circumstances and tailor our services to match your unique needs.

What are the advantages of international banking?

International banking gives our private customers the convenience and ability to access safer banking jurisdictions and banks overseas.

What private banking services do we offer to expats?

We can help you with private banking, borrowing (against a property or investments), investments, wealth planning and wealth structuring.