Exchange Today (Spot)
Spot Market Transactions, are those where you need to make an immediate exchange or if you require making a payment for overseas goods or services right away.
In this event you will most likely book a spot market contract at today's exchange rate. A spot market contract allows you to buy or sell foreign currency at the current exchange rate with settlement (final payment to beneficiary) occurring typically within one business days.
Exchange rates can significantly change within a day. So a rate booked first thing in the morning could be dramatically different from a rate you would get later in the day. Your Account Specialist can provide you for further details regarding spot transactions and help you determine if a Spot Transaction is most advantageous for your specific exchange needs.
Benefits of Spot Contracts:
- Immediate sale and delivery of foreign currency
- Easy tracking of your payment
- No costs, fees or commissions to pay
Contact a Venstar Account Specialist today regarding all Venstar products, including Spot and Forward Transactions. Our experienced team is standing by, call us today at 1-800-407-3796 or 1-310-882-5558. Or fill in our online form and let us contact you.