Trading internationally opens exciting opportunities for growth, but navigating foreign exchange (FX) can be tricky. Fluctuating exchange rates can significantly impact your bottom line, and managing these risks effectively is crucial for businesses involved in global trade.
Bendigo Bank's Business FX specialists simplify this process with tailored solutions designed for your business. Our Financial Markets Product Manager, Waqar Younas, highlights key challenges businesses face and how our specialists can help and what solutions are available.
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Understanding FX: FX is the conversion of one currency into another (e.g., AUD/USD). Market demand and supply drive exchange rate movements, which can affect the cost of imports and the value of exports. Our specialist team helps businesses manage these fluctuations efficiently.
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FX solutions for your business: Whether you are managing regular overseas payments or protecting your business cash flow from currency fluctuations, our FX solutions are designed to meet your needs. From simple currency conversions to tailored hedging strategies, we help your business navigate global markets.
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Offshore payments and conversions: Need to pay overseas suppliers or convert foreign currency receipts into AUD? Our simple and secure payments service makes international payments easier and more efficient.
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Managing currency risk: Exchange rate volatility can impact business cash flow. A forward exchange contract (FX contract) allows you to lock in an exchange rate for a future date, providing price certainty for your imports or exports. Managing currency risk through the right FX strategy helps protect your business from unpredictable market movements.
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Foreign currency accounts: Receive and make payments in foreign currencies such as USD or EUR directly through your FX At Call Bendigo Bank account. This simplifies cross-border transactions and allows for quick conversions to AUD when required.
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Self-service option: Access our Online FX platform for approved business customers via e-Banking to view live exchange rates, book conversions and manage transactions whenever it suits your business.
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Expert support: Our dedicated FX specialists provide tailored advice, timely solutions and a full suite of products to help your business grow. We take the time to understand your unique goals and challenges, ensuring you have the right tools to manage your international payments and FX risks.
Talk to our FX specialists today to discuss how our tailored solutions can support your growth and help your business success in global markets.
