About Knightsbridge Foreign Exchange
How is Knightsbridge Foreign Exchange different from a bank?
Who can benefit from Knightsbridge's services?
Registration Process
What is the registration process?
Can I keep my existing banking relationship?
Are there any costs to register with Knightsbridge Foreign Exchange?
Is there any obligation to use Knightsbridge Foreign Exchange after I register?
How long does it take to register?
Transaction Process
How do I transact with Knightsbridge?
Are there any transaction fees?
how long does it take get funds converted?
Products and Services
How do I protect my profit margins from currency fluctuations?
What is the difference between a forward contract and a spot rate?
Can I book a currency transaction at a rate I choose?
Does Knightsbridge deal with all major currencies?
What is the typical size of currency transactions?
Can Knightsbridge manage my foreign currency payables and receivables?
Are wire transfers safe and guaranteed?
About Knightsbridge Foreign Exchange
How is Knightsbridge Foreign Exchange different from a Bank?
When was the last time your bank called you or dedicated a team of professionals to assist your company proactively with foreign exchange?
We help management teams be proactive about foreign exchange strategy and execution.
Who can benefit from Knightsbridge's services?
We work best with smart, lean, and value driven companies and help them manage immediate and emerging foreign exchange requirements
Registration Process
What is the registration process?
As per Government of Canada FINTRAC requirements, we are required to validate the identity of businesses that we work with. Complete and return our application form and one of our account executives will contact you shortly thereafter to better understand your foreign exchange requiments.
Can I keep my existing banking relationship?
Yes. There is no requirement to change your existing banking relationship.
Are there any costs to register with Knightsbridge Foreign Exchange?
No. There are no costs to register with Knightsbridge Foreign Exchange. There are no account maintenance fees.
Is there any obligation to use Knightsbridge Foreign Exchange after I register?
No. There is no obligation to use Knightsbridge Foreign Exchange after you register.
How long does it take to register?
An account can be opened within hours.
Transaction Process
How do I transact with Knightsbridge Foreign Exchange?
Are there any transaction fees?
There are no fees for transactions. Wire transfers are free with Knightsbridge Foreign Exchange.
How long does it take to get funds converted?
Transactions are generally processed the same day as the funds are received by Knightsbridge Foreign Exchange.
Products and Services
How do I protect my profit margins from currency fluctuations?
The use of a forward contract locks in an exchange rate today for a certain date in the future. If you know your foreign currency requirements for a time period in the future, a forward contract will help you achieve cost certainty and will eliminate the impact of currency fluctuations on your business or foreign property purchase.
What is the difference between a forward contract and a spot rate?
A spot transaction is an agreement to buy or sell a currency at the current market exchange rate. A forward contract is an agreement to buy or sell currency for a date in the future (i.e. locking in a rate today for a payment in the future).
Can I book a currency transaction at a rate I choose?
Yes. Knightsbridge will monitor currency markets for you until your FX rate has been achieved, and will execute your transaction at that time. There is no charge for this service.
Does KnightsbridgeFX deal with all major currencies?
Yes.
What is the typical size of currency transactions?
Our typical transaction size is between $20,000 per transaction and up to $40 million annually.
Can Knightsbridge manage my foreign currency payables and receivables?
Yes. Knightsbridge can send and receive foreign currency payments, including multiple payments. Customers often outsource their payment processes to KnightsbridgeFX – simply provide us with the payment details of your payees and we will guarantee they are paid in a timely fashion according to your schedule.
Are wire transfers safe and guaranteed?
Yes. Knightsbridge’s wire transfers are executed through Canadian financial institutions. Each wire transfer is subject to a number of verification procedures to ensure accuracy. All transactions are executed solely after receiving client instructions.
