Cambridge Foreign Exchange

Global Payments

A variety of Foreign Exchange payment alternatives are available:

Foreign Currency Checks - Bank Drafts

Foreign Currency Checks (also known as bank drafts) are ideal if your price is agreed upon but the terms call for immediate payment.

You'll find this method of payment particularly useful if you are flying out to inspect your goods.

Here's how it works; we'll ensure you're issued with an international check, in the currency of the country you are purchasing goods in. All you have to do is simply pick it up from the designated bank on your arrival.

This means, you'll stay in possession of the payment until you've inspected your goods. And you don't have to close with the vendor until you're completely satisfied.

It's a much better option than wiring your money ahead of time. And it puts you in a win/win situation.

Electronic International Wire Transfer

When your response time is crucial, a Wire Transfer is the fastest, most secure way to settle your accounts.

Let us put payments into your foreign suppliers' hands in minutes, in most major currencies.

Foreign Currency Forward Contracts

If you want to minimize your risk factors a Forward Contract is a very effective way to do it.

It's your global payment safety net that can help protect you from foreign exchange exposure that might cut into your corporate profits.

A Forward Contract allows you to lock in your cost for the foreign currency you'll need at a future date, or series of dates. The timing could be in a week, a month or more.

You won't even have to tell us the exact date of when you'll need the money.

It means you can plan your commercial activities knowing you will not be faced with any surprises.

Currency Swaps

The best way to outline how Currency Swaps can save you money is by using an example.

Let's say the deal you just signed has to be paid in Euro today. However, you don't currently have any Euro but you will be getting a payment in Euro in a few weeks. Instead of buying Euro today and then selling them back when you receive the payment, you can arrange a Swap.

It allows you to borrow the Euro you need to pay for the purchase you just made, and then pay them back later.

The one fee that you pay for the Swap, will be less than the two fees you'd pay if you bought today, and sold tomorrow.

Letters of Credit

You can save money by arranging to settle a Letter of Credit through us, not a bank.

This is because banks have control over exchange rates, and therefore have a tendency to charge you more.

We'll arrange to pay the bank with a currency draft or wire transfer at better exchange rates so you're in control of your costs, not the bank.