Protects you against unfavourable movements of exchange rates.
A forward contract is an agreement to buy a certain amount of currency at the current exchange rate for a date in the future, without having to pay for it all upfront. Forward contracts allow you to lock into an exchange rate for up to 12 months, usually paying around 10% to secure the currency, then pay the balance by the agreed payment date.
A forward contract could be a great option if, for example, you are buying a house abroad and have put down a deposit and want to protect yourself against adverse exchange rate movements before you complete the house purchase.
Find out more about Forward Contracts
To find out more about forward contracts, speak to one of our experts on 02071 832 790.