FX Contract Booking

Need an edge? It is time to hedge.

Why you will love this
Who can use

Why you will love this

Get real-time foreign exchange rates

Book the rates that work best for your business

Available 24 hours a day, Monday to Sunday

Who can use

Available to all OCBC Business Banking customers through OCBC Velocity*

Book now

Say hello to live Foreign Exchange (FX) rates you can lock in on OCBC Velocity

Why book your FX rates online

FX Online helps reduce the risk of currency fluctuations and uncertainty. Suitable for businesses that:

Import or export goods and services
Have foreign currency accounts
Send international payments
Want greater cash flow certainty to improve budgeting and achieve financial objectives in international markets

Benefits

Certainty

View FX rates in real time before you book.

Control

Mitigate fluctuations in FX rates and book the rates that work best for your business.

Choice

Choose from 15 major currencies: USD, EUR, AUD, GBP, HKD, CNH, CHF, JPY, NZD, CAD, NOK, SEK, DKK, SGD and ZAR.

Convenience

Book securely on OCBC Velocity or the OCBC Business app, 24 hours a day, from Monday to Sunday.

HOW TO BOOK FX ON OCBC VELOCITY

Get real-time foreign exchange rates and book the rates that work best for your business. In this video, we will guide you on how to book FX contracts and use them on OCBC Velocity.

Get Started On OCBC Velocity

Booking FX contracts
Using your FX contracts

1

Log in to OCBC Velocity. Select “FX & Treasury” followed by “Book FX Contract”.

2

Choose the currency pair that you would like to buy/sell and the amount required. Then select “Get started” and follow the on-screen instructions.

3

Once successful, you will receive a confirmation with your contract details. To view your contract(s), click on “FX Trade History”.

Use the FX contract by making a transfer to your account or by making a payment on the value date¹.

1

Log in to OCBC Velocity and select ‘Transactions’. Under ‘Make a transfer to’, select ‘An OCBC Account’, ‘A bank locally’ or ‘A bank overseas’.

2

Ensure that the value date, amount and currency match those of the FX Contract you wish to use.

To use an FX Contract, the currency of your transfer/payment must be different from that of the funds in the account you selected. Then, select ‘Other rate types’.

3

Under ‘Live contracts’, FX Contracts booked in the currency matching that of your transfer/payment will be shown. Select the FX Contract you wish to use – you may use it partially or in full.

Enter the amount you wish to apply the FX rate to and click on ‘Proceed’. The FX rate will now be applied to your transfer/payment.

GET STARTED ON THE OCBC BUSINESS APP

Booking FX contracts
Using your FX contracts

1

Log in to the OCBC Business app. On the menu list, select “Book FX Contract”.

2

Input the amount and currency pair that you would like to buy/sell as well as the value date. Then select “Get rate” and follow the on-screen instructions.

3

Once successful, you will receive a confirmation with your contract details.

Use the FX contract by making a transfer to your account or a payment on the value date¹.

1

Log in to the OCBC Business app and tap ‘Payments & Transfers’. Then, tap ‘Transfer funds’ and select ‘Local’ or ‘Overseas’.

2

Ensure that the value date, amount and currency match those of the FX Contract you wish to use.

To use an FX Contract, the currency of your transfer/payment must be different from that of the funds in the account you selected. Then, tap ‘Use FX Contract’.

3

FX Contracts booked in the currency matching that of your transfer/payment will be shown.

Select the FX Contract you wish to use and tap ‘Done’. The FX rate you locked in under the contract will now be applied to your transfer/payment.

Before You Apply

Terms and conditions

Conditions of access

Terms and conditions governing OCBC "FX Online Usage Campaign"

Standard terms and conditions governing Foreign Exchange Transactions

*Available for Standard and Classic OCBC Velocity service packages only.
For premium packages, please contact your Relationship Manager.

¹The FX contract will be reversed if it is not used on the value date, any losses incurred will be borne by you.

Ready to book?

Lock in your FX rates on OCBC Velocity

Log in

or view all service packages if you have not registered for OCBC Velocity.

FAQS

What will happen if I do not use my FX contract?

OCBC will need to sell your FX contract at the prevailing market rates. Any gains or losses will be attributed to your account.

Why am I unable to access FX contract booking?

FX contract booking is available to all OCBC Business Banking customers with an “Authoriser” entitlement via OCBC Velocity (Business Internet Banking) and the OCBC Business app. OCBC will progressively roll out this function to more customers in the future.

Why do you need to earmark my account balance for the booking of FX contract?

During the booking stage, you will need to select your bank account and OCBC will earmark a percentage of your account balance based on the value of the FX contract booked. The amount for earmarking will be displayed on screen before you confirm your FX contract booking.

We will debit/credit the remaining earmarked amount back to the same designated bank account after deducting any losses arising from potential fluctuations in the exchange rate if customers have foreign exchange transactions that remain unsettled or are outstanding past the Value Date.

I have booked an FX contract on OCBC Velocity, but I no longer require it/change my mind/want to reduce the amount. How can I cancel it?

Unfortunately, you cannot cancel a foreign exchange transaction after it is completed.

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