Guaranteed Rates
Mitigate your FX risk.
[Doug Houser, Head of Global Cross Currency Solutions, Bank of America]
As the global currency market has become ever more volatile, FX exposure poses challenges to treasurers in managing their companies’ cross-border, cross-currency receivables and payables.
Treasurers need to manage more aspects of risk, including counterparty, transactional, economic and operational risk. In response, Bank of America offers a solution that helps our clients reduce the FX friction in their daily operational cash flows: Guaranteed Rates.
Guaranteed rates is not a new concept in the FX payment space. But with limited guarantee periods, it has not been ideal to support companies’ receivables and payables cycles, which run up to 1-3 months or even longer. Today, however, Bank of America guarantees rates up to 90 days.
Building upon the predictability of corporate payment flows — receivables from customers and payables to suppliers — the bank makes it possible to offer a longer-dated guarantee rate with competitive pricing.
And, we offer Guaranteed Rates in three of our payment channels – CashPro Connect, CashPro Payments, and SWIFT FX Payments, as well as US FX Receivables.
Now, you can mitigate your FX exposure in payables and receivables, simplify your reconciliation process, and reduce your accounting noise due to daily mark-to-market.
Twenty-five currencies can now be guaranteed for up to 90 days on transactions including inbound, outbound, intraday and crosses.
Rates can be guaranteed up to pre-agreed limits. And, rate set notifications can be made via email or via file transfer protocol.
By essentially shifting FX risk management to the bank, companies can focus on their international expansion, customer acquisition, and forging stronger relationships with their customers, suppliers and vendors.
If you would like to learn more about how Guaranteed Rates can help you manage your cross-currency cash flows, contact your treasury sales officer, FX professional, or email us at GCCP@baml.com.
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.