Barclays Travel Money
Barclays Foreign Exchange Service
Barclays can change over 50 currencies in their Bureau de change so that you can get your travel money with ease from one of their many branches across the country; and if you have any unused currency left at the end of your holiday then Barclay will change you money back into pounds with absolutely no commission fee. If you haven’t got time to go into the branch, you can easily order your money to be sent to you for ultimate convenience, helping you to holiday with ease. Barclays exchange to the most up to date rates, so you know that you will be getting the best deal when you exchange your money.
Each person can order up to £5000 daily, although delivery is limited to £2500 and these are also subject to strict delivery rules for security reasons, but all currency is available for collection on the next working day from a Barclays branch of your choice.
Barclays for Business Foreign Exchange
Barclays is the third largest foreign exchange bank by global share, and are well practiced in exchanging and managing foreign currency on a larger scale.
If you wish to move a larger amount of money with the Barclays Business or Corporate account, Barclays offers you a specialist Risk Solutions team that will help you to gain access and incites to different areas of the global market with tools and expert analytics.
Barclays offers their business and corporate customers a huge range of products to help reduce their risk of global currency instability so that you can minimise your risk margins and achieve higher financial prospects.
Each account has access to a self-serving trading platform that displays the currency rates in real time and gives you greater flexibility in order to trade your currency at the right time. Barclays regularly dedicate time to researching into foreign exchange so that you are given all of the information so that you can manage your foreign exchanges in a much more controlled way.
Spot Exchanges and Forward Transactions
There are two main ways that you can exchange your foreign currency with the Barclays business or corporate account; the first is a spot transaction. Spot transactions are a buy or a sell of foreign currency, which is set at a specific exchange rate by your financial planning, and then settlement is processed within two working days. This is usually used for smaller transactions, as there is less time to canvas the exchange patterns in order to get the best exchange rates.
The second way is through forward transactions. These are planned slightly better that spot transactions, as this is a commitment to buy or sell the currency of your choice at a fixed rate on a future day. This allows you to freeze an exchange rate for future exchange, and then if the exchange rate improves before the set date you can change the fixed currency to the higher amount. This allows you to better plan your financial exchanges so that you can make the most of your foreign currency and make the most possible profit.
1 Churchill Place, London E14 5HP