Today’s always-connected global economy means that companies seeking to unlock growth must be nimble and find ways to navigate world markets. Whether you’re new to FX or expanding your horizons, you can look to us for the strategic guidance to help you stay ahead with solutions that make business easier.
FX Treasury Solutions
Making global transactions easier
CashPro® FX services
CashPro® is your complete digital platform for payments, receipts, and hedging in more than 140 currencies, 200 countries and territories.
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[Bank of America logo]
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CashPro® Foreign Exchange Services
Intro to FX
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©2022 Bank of America Corporation. All rights reserved. Terms and conditions apply.
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Companies that trade internationally face a key decision: whether to pay foreign suppliers, vendors and other business associates in their home currency or in local currency.
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Although many companies believe that paying in their home currency is a safer option that eliminates FX risk, there are significant drawbacks. One drawback is that international suppliers who receive payments in the buyer’s home currency may significantly mark up the price of goods to offset their FX risk. As a buyer, this means you may be overpaying for goods.
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Another drawback of making cross-border payments in your home currency is that some of your suppliers and vendors may be unable to manage the FX risk, creating operational or financial difficulties for your trading partners.
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Drawbacks to paying suppliers in your home currency
• You may be overpaying for goods
• Suppliers may be unable to manage the FX risk
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CashPro Foreign Exchange Services from Bank of America can make it easy to overcome these drawbacks and gain the benefits of an efficient FX payments program.
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CashPro Foreign Exchange Services connects you to beneficiaries in more than 140 currencies and 200 countries and territories. Using your Bank of America account in more than 25 countries, you can access comprehensive payment and hedging vehicles from a single screen.
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CashPro® Foreign Exchange Services
• More than 140 currencies and 200 countries
• No need for additional accounts
• Comprehensive payment and hedging vehicles
• Single-screen convenience
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By making payments in local currencies, you can help reduce your costs, strengthen risk management, increase operational efficiency and improve your supplier relationships.
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Benefits
• Reduce costs
• Strengthen risk management
• Increase efficiency
• Improve supplier relationships
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WHAT WOULD YOU LIKE THE POWER TO DO?®
[Bank of America logo]
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“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
©2022 Bank of America Corporation. All rights reserved.
[End of transcript]
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[Bank of America logo]
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CashPro® Foreign Exchange Services
Global Reach
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©2022 Bank of America Corporation. All rights reserved. Terms and conditions apply.
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With CashPro Foreign Exchange Services, you gain access to more than 140 currencies across 200 countries and territories.
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You can directly debit your accounts held worldwide by choosing from a wide range of payment vehicles. These include wire transfers for fast disbursement of high- and low-value payments, cross-currency ACH, for automated routine disbursements such as payroll, trade payments and tax payments, and bank drafts, for less urgent payments.
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Payment vehicles
• Wire transfers
• ACH
• Bank drafts
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Hedging tools include spot trades, forwards, swaps, non-deliverable forwards and more.
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Hedging tools
• Spot trades (same- and next-day)
• Forwards
• Swaps
• Non-deliverable forwards
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WHAT WOULD YOU LIKE THE POWER TO DO?®
[Bank of America logo]
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“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
©2022 Bank of America Corporation. All rights reserved.
[End of transcript]
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[Bank of America logo]
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CashPro® Foreign Exchange Services
Convenient access
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©2022 Bank of America Corporation. All rights reserved. Terms and conditions apply.
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Using CashPro Foreign Exchange Services gives you convenient access through a range of channels designed to meet your needs. You can connect globally through web- and file-based solutions, SWIFT or a dynamic API interface that builds a robust execution and settlement functionality into your internal systems.
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Connectivity options
• Web
• File
• SWIFT
• API interface
For web access, CashPro payments can help you simplify your end-to-end processes, from payment creation to reconciliation. Take advantage of enhanced, straight-through processing, global routing codes and automated payment reconciliation to streamline high- and low-value payments, multi-bank, internal book transfers and more.
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CashPro® Payments
• Simplified payments processes
• Enhanced straight-through processing
• Global routing codes
• Auto payment reconciliation
[CashPro Online Payments screen]
CashPro payments also provides local language availability, the ability to email beneficiaries while including attachments, fixed, dynamic or panel approvals and user-defined fields. You also benefit from multiple payment entry options and the ability to lock in FX rates prior to submitting your payments.
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CashPro® Payments
• Beneficiary emails with attachments
• Flexible approvals
• User-defined fields
• Multiple payment entry options
• Lock in FX rates prior to making payments
[CashPro Online Payments screen]
If you prefer file access, CashPro Connect FX is a single-file, multi-currency solution that can help you make global payments with electronic acknowledgements and reporting. CashPro Connect FX supports multiple file formats and uses ISO 20022 XML, the global standard for financial messaging, to help you transact with greater speed and efficiency.
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CashPro® Connect FX
• Single-file, multi-currency solution
• Electronic acknowledgments and reporting
• Multiple file formats
• ISO 20022 XML
• Greater speed and efficiency
[CashPro FX trade entry screen]
CashPro FX is an online, single point of access for execution of FX payments, as well as trades, featuring simple navigation, interactive fields and netting functionality. Execute spot trades, forwards, swaps and non-deliverable forwards in more than 140 currencies, with straight-through trade processing, while benefitting from timely forecasts and risk-analysis tools.
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CashPro® FX
• Spots, forwards, swaps and non-deliverable forwards
• Straight-through trade processing
• Forecasts and risk analysis
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WHAT WOULD YOU LIKE THE POWER TO DO?®
[Bank of America logo]
On screen copy:
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
©2022 Bank of America Corporation. All rights reserved.
[End of transcript]
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[Bank of America logo]
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CashPro® Foreign Exchange Services
Outstanding execution
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©2022 Bank of America Corporation. All rights reserved. Terms and conditions apply.
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CashPro Foreign Exchange Services delivers outstanding execution that can increase your efficiency, transparency and savings. Take advantage of straight-through processing for cost savings and operational efficiencies along with real-time rates in 28 countries. 24-hour rate guarantees are also available in select circumstances.
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Efficiency, transparency and savings
• Straight-through processing
• Real-time rates in 28 countries
• Rate guarantees (in select circumstances)
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VO:
CashPro Foreign Exchange Services also simplifies your workflow with a new FX Trade & Pay feature. With FX Trade & Pay, you can view and settle eligible trades done with Bank of America within a single screen in CashPro Payments. This means you can use pre-booked currency trades to efficiently fund your FX payments, helping you drive profitability while reducing risk. It also provides easy access to the robust payment workflow capabilities in CashPro Payments. These include straight-through processing online validation, along with fixed, dynamic and panel approval structures. FX Trade & Pay can also create a separation of duties through security and entitlement features that are available at the account, function and payment category levels.
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FX Trade & Pay
• Use pre-bought currency to fund FX payments on one screen
• No need to switch applications
• Easy access to robust payment tools
• Separation of duties
VO:
Take advantage of CashPro Foreign Exchange Services. Contact your Bank of America representative to learn more.
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CashPro® Foreign Exchange Services
Bank of America
©2022 Bank of America Corporation. All rights reserved. Terms and conditions apply.
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WHAT WOULD YOU LIKE THE POWER TO DO?®
[Bank of America logo]
On screen copy:
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
©2022 Bank of America Corporation. All rights reserved.
[End of transcript]
Guaranteed FX rates
See how locking in exchange rates for up to 180 days can ease payments flows, simplify reconciliation and reduce accounting noise due to daily mark-to-market.
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Bank of America® logo
What if you could simplify your foreign exchange?
As the global currency market has become even more volatile, FX fluctuations pose significant challenges to treasurers in managing their companies’ cross-border, cross-currency payables and receivables.
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FX fluctuations pose significant challenges
Bank of America’s Guaranteed FX Rates solution helps your company reduce foreign currency friction in your daily treasury processes.
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Guaranteed FX Rates from Bank of America
It simplifies your forecasting and reconciliation and allows you to forge stronger relationships with your customers and vendors.
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Simplify forecasting and reconciliation
Guaranteeing FX rates is not a new concept, but it hasn’t always been able to meet the needs of companies whose payables and receivables cycles often run up to three months or longer.
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Guaranteeing FX Rates is not a new concept
Receive FX rates
Use FX rates
Execute FX transactions
Access reporting
But now, Bank of America offers guaranteed FX rates with tenors up to 180 days across 35 currencies.
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Guaranteed FX Rates
180 days across 35 currencies
And with our intelligent, data-powered solution that operates in real time, you’ll consistently have access to most competitive FX rates across supported tenors.
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Data-powered solution
Competitive FX rates
You can access Guaranteed FX Rates through our payment channels, with no new implementation required. It’s also available through an API for direct use with your treasury management workstation.
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Access through our payment channels
With our solution, you’ll experience the benefits of reduced accounting noise, FX rate certainty and improved reconciliation, helping you cut through the complexity of FX.
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Reduced accounting noise
FX rate certainty
Improved reconciliation
Guaranteed FX Rates from Bank of America. It’s how we’re working to put your business at the edge of what’s next.
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Put your business at the edge of what’s next
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Bank of America® logo
On screen disclosures:
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
© 2023 Bank of America Corporation. All rights reserved.
[End of transcript]
FX Trade & Pay
In today’s global payments market, you may be contending with limited service offerings, manual processes and fragmented workflows. That’s why we’ve created FX Trade and Pay.
One solution offers you real-time rate visibility, streamlined access to comprehensive trading and settlement tools as well as flexibility in trade and settlement workflows.
With more than 140 currency options to choose from.
Making for a stronger payments journey end-to-end.
Fx Trade and Pay is at your fingertips through the convenience of our digital platform using the fx channels of your choice.
Complete cross-currency trades and payments online, over the phone, through our app or even through an a-p-i.
All while giving you a seamless experience whether you are in the office or on-the-go.
Three straightforward steps get you there.
You then get a clear view of all of your approved payments and easy access to reconcile payments to settled trades – all in a secure environment.
One efficient workflow offers you competitive fx rates, transparency, visibility, security and risk mitigation – ultimately, giving you greater control over cross-border payments. We’re here to make doing business around the world…faster, smarter, and more secure.
Trade anywhere. Settle anywhere.
Fx Trade and Pay is just the solution to get you there.
SWIFT FX Payments
Voiceover:
Sending cross-border, cross-currency payments is often cumbersome, inefficient, and costly. But it doesn’t need to be that way.
At Bank of America, we help make business easier with our SWIFT FX solution.
SWIFT FX gives you the power to hold only one account and easily send funds in over 140 different currencies – streamlining the process for you and your customers to do more business globally.
For additional control, combine SWIFT FX with our Guaranteed FX solution, locking in a fixed rate for up to 180 days.
And for optimal upfront visibility at a transactional level, our award-winning FX Trade and Pay solution now allows pre-booked trades to be settled via SWIFT against US dollar accounts with more debit currencies planned.
Whichever method you use, we want to make it easier for you with minimal implementation requirements while accepting multiple message types and formatting options.
At Bank of America, we're here to improve efficiency and provide a great experience for you and your customers. That's why we continue to invest and innovate our Global FX Solutions for payments and receipts.
Learn more today.
On screen copy:
Bank of America® logo
On screen disclosures:
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
© 2023 Bank of America Corporation. All rights reserved. | 5392156
Instant Cross-border Payments (IXP)
IXP enables initiation and disbursement of low-value, high volume, cross-border payments in near real-time. It uses distributed ledger technology to create a transparent and instant disbursement of funds to beneficiaries across international borders.
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Bank of America® logo
What if you could make low-value, cross-border payments almost instantly? Many businesses are expanding their operations globally, resulting in more cross-border payments than ever before. But these can be costly and complex to navigate.
Instant Cross-Border Payments, or IXP, from Bank of America, leverages blockchain technology to help you make low-value, high-volume cross-border payments in near real-time. The way it works is simple. You initiate your payment in U.S. dollars, and IXP pre-validates payee details and makes the FX conversions.
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Payments are initiated from the U.S.
Pre-validation
FX conversion
It then transfers your funds to the payee in their local currency equivalent, with no deductions from your original payment amount.
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No deductions
Helping you to optimize working capital and save on costly wire and FX fees.
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Optimize working capital
Not only that, enhanced remittance fields and payment status notifications also improve end-to-end transparency, further streamlining your reconciliation processes.
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Improve transparency
Streamline reconciliations
IXP is ideal for situations where your payees need instant access to their funds.
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Instant access to funds
Or for time-sensitive low-value payments to your business partners. Instant Cross-Border Payments from Bank of America.
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Harnessing innovation to put your business at the edge of what’s next.
Just another way we harness innovation to make business easier and put your business at the edge of what’s next.
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Bank of America® logo
On screen disclosures:
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
© 2023 Bank of America Corporation. All rights reserved.
[End of transcript]
FX APIs
Connect your systems to application programming interfaces (APIs) to initiate real-time FX requests.
CashPro® FX API
Get live FX rate requests (RFQs) for more than 140 currencies.
CashPro® Flow API
Lock in guaranteed FX up to 180 days.
CashPro® Payments Initiation API
Automate payment execution.
Instinct® FX API
Trade FX with streaming live FX rates.
FX Receivables
Learn how you can convert inbound foreign currency receipts and concentrate them into your Bank of America account. FX Receivables offers your clients the convenience of paying in local currency, while you reap the many benefits of simplifying your cross-currency collections.
Receiving payments in different currencies creates challenges for treasury functions that often require manual intervention.
At Bank of America, we help make business easier with our Global FX Receivables solution.
With it, you hold one account and quickly receive funds in up to 37 different currencies - making it easy for you and your payers to do more business globally.
To further manage FX risk, combine Global FX Receivables with our Guaranteed FX Rates, locking in a fixed rate for up to 180 days.
Once your inbound payments have been converted, we credit funds to your account automatically, often on the same day. And for easier reconciliation and auditing, we offer trade and payment alerts along with statement information.
At Bank of America, we're here to improve efficiency and provide a great user experience for your customers. That's why we continue to invest and innovate our global FX solutions for payments and receipts. Learn more today.
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. 16 Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
These materials have been prepared by one or more subsidiaries of Bank of America Corporation. These materials are not intended to provide the sole basis for evaluating, and should not be considered a recommendation with respect to, any transaction or other matter. These materials do not constitute an offer or solicitation to sell or purchase any securities and are not a commitment by Bank of America Corporation or any of its affiliates to provide or arrange any financing for any transaction or to purchase any security in connection therewith. These materials are for discussion purposes only. We assume no obligation to update or otherwise revise these materials. These materials have not been prepared with a view toward public disclosure under applicable securities laws or otherwise, and may not be reproduced, disseminated, quoted or referred to, in whole or in part, without our prior written consent. These materials may not reflect information known to other professionals in other business areas of Bank of America Corporation and its affiliates. Bank of America Corporation and its affiliates (collectively, the "BAC Group") comprise a full service securities firm and commercial bank engaged in securities, commodities and derivatives trading, foreign exchange and other brokerage activities, and principal investing as well as providing investment, corporate and private banking, asset and investment management, financing and strategic advisory services and other commercial services and products to a wide range of corporations, governments and individuals, domestically and offshore, from which conflicting interests or duties, or a perception thereof, may arise. In the ordinary course of these activities, parts of the BAC Group at any time may invest on a principal basis or manage funds that invest, make or hold long or short positions, finance positions or trade or otherwise effect transactions, for their own accounts or the accounts of customers, in debt, equity or other securities or financial instruments (including derivatives, bank loans or other obligations) of the Company, potential counterparties or any other company that may be involved in a transaction. Products and services that may be referenced in the accompanying materials may be provided through one or more affiliates of Bank of America Corporation. We have adopted policies and guidelines designed to preserve the independence of our research analysts. The BAC Group prohibits employees from, directly or indirectly, offering a favorable research rating or specific price target, or offering to change a rating or price target to a subject company as consideration or inducement for the receipt of business or for compensation and the BAC Group prohibits research analysts from being directly compensated for involvement in investment banking transactions. We are required to obtain, verify and record certain information that identifies the Company, which information includes the name and address of the Company and other 17 information that will allow us to identify the Company in accordance, as applicable, with the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) and such other laws, rules and regulations as applicable within and outside the United States.
We do not provide legal, compliance, tax or accounting advice. Accordingly, any statements contained herein as to tax matters were neither written nor intended by us to be used and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on such taxpayer. If any person uses or refers to any such tax statement in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, then the statement expressed herein is being delivered to support the promotion or marketing of the transaction or matter addressed and the recipient should seek advice based on its particular circumstances from an independent tax advisor. Notwithstanding anything that may appear herein or in other materials to the contrary, the Company shall be permitted to disclose the tax treatment and tax structure of a transaction (including any materials, opinions or analyses relating to such tax treatment or tax structure, but without disclosure of identifying information or, except to the extent relating to such tax structure or tax treatment, any nonpublic commercial or financial information) on and after the earliest to occur of the date of (i) public announcement of discussions relating to such transaction, (ii) public announcement of such transaction or (iii) execution of a definitive agreement (with or without conditions) to enter into such transaction; provided, however, that if such transaction is not consummated for any reason, the provisions of this sentence shall cease to apply.
Please review the additional disclaimers and related material that can be found on our website, including the disclaimers relevant to your jurisdiction, for which we have provided the hyperlink below.
https://business.bofa.com/en-us/content/baml-disclaimer.html
CA Opt-Out Preference Signals Honored
Copyright © 2023 Bank of America Corporation.
Auto Convert
Automatically convert payments into a beneficiary’s local currency. Auto Convert utilizes data intelligence to read the outbound payment details and determine if the beneficiary account is held in USD or in local currency. This solution offers payment efficiency, reduces foreign bank lifting fees, and creates a positive client experience
Multicurrency Netting
Centralize your intercompany transactions with FX netting to save time, reduce wire transfers and FX expenses.
Managing cross-currency intercompany payments can be complex, costly, and prone to manual errors.
Improving this process is essential to reduce costs, manage risk, and streamline settlements.
Bank of America’s multi-currency netting solution transforms your intercompany settlement experience.
Instead of entities settling directly with each other, multi-currency netting aggregates your intercompany payables and receivables into a single location. This means just one single payment per entity, significantly reducing the number of settlements required.
Additionally, elevate your FX netting experience with Bank of America’s Guaranteed rate FX solution, which marries the calculation and execution rates by holding a spot affects rate for a period of time, typically up to 12 hours.
This provides sufficient time to use the Guaranteed FX Rate to calculate positions, finalize participant settlements, and execute the netting trades.
Learn more about Bank of America’s multi-currency netting and streamline your settlements today.
