The following guide describes the products available to customers, and how these can be used to generate rates and quotes. Products include: Third Party FX, Money Transfers FX, and Wallet FX.

Currencies

Conversions can be made from a Main currency to an Exchange currency, and vice versa.

Main Currency - The currency being used to pay for the exchange.

Exchange Currency - The target currency to convert into.

Rates and Quotes

Rates- Facilitate the exchange rates prior to execution.

Quotes - Initiate the execution of a currency conversion.

FX Rates and Quotes can be generated in two ways:

1. Convert Main Currency into Exchange Currency: This method uses a given amount to spend in a Main currency to acquire an Exchange currency. E.g. Tom and Polly have a spending budget of 1000GBP for their holiday to Greece and they want to find out what this converts to in EUR.
2. Convert Exchange Currency into Main Currency: This method uses a given amount of Exchange currency to work out the rate in the Main currency. E.g. Tom and Polly have received a quote of 1500EUR for their hotel stay in Greece and want to find out what it converts to in GBP.