- Confirm the FX rate at the same time as authorising the payment;
- View the rate before accepting and get a real-time FX price; and
- Improve your reconciliation accuracy and proceed straight through processing.
Gain more control of your foreign exchange payments with Get Rate
How it works
Get Rate is simple to use and appears automatically for eligible payment instructions at the final stage of authorising transactions.
It provides you with a real-time quote for the debit/credit amounts and the exchange rate. Payments that may be eligible for Get Rate are marked with a ‘$’ or ‘GR’ symbol.
HSBCnet Preview exchange rate and Get Rate tools enable you to view and access FX rates for your trade transactions if the transactions are eligible for FX transaction.
With Get Rate on HSBCnet, you can:
- 'Get Rate' is simple to use and appears automatically for eligible trade transactions at the final authorisation stage
- Use 'Preview exchange rate' functionality to preview the indicative FX rates available to you before submitting the transactions for further authorisation
- Choose to accept or reject 'Get Rate' offered. Get Rate will not be offered when you provide an FX contract on your instruction
- If you reject 'Get Rate' and continue with your trade transaction, then we will process the transaction following the existing process for FX rates
- Currently, Get Rate in UAE supports SPOT (current date +2 days) value dated transactions only
Manage your international business with confidence and certainty
This new FX payments feature available on HSBCnet helps you to:
- Improve your ability to self-select currencies for your cross-border payments
- Decide whether to complete any FX conversion before making a payment
- Have better cash flow visibility
Benefit from artificial intelligence and machine learning
With increasingly predictive capabilities, powered by machine learning and artificial intelligence, the more FX payments you make, the better we'll be able to predict account currencies for future payments.
To understand more about FX Prompt functionality, kindly logon to HSBCnet