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Foreign Exchange

Ke premium currency investments

Foreign Exchange

Foreign Exchange made simple with Standard Chartered Wealth Management

By leveraging on our international footprint, we can offer clients access to an unparalled range of emerging market and G10 currencies.

Key Features

FAQs

  • Foreign exchange is the process of changing one currency into another.

  • Foreign exchange involves risks. Fluctuation in the exchange rate of a foreign currency may result in gains or significant losses in the event that the customer converts deposit from the foreign currency to another currency.

  • We do not support opening of forex trading accounts currently. What we do support is opening Foreign Currency (FCY) accounts that our clients use to settle their financial obligations in FCY.

  • To purchase a foreign currency, this can be executed via our SC Mobile App, through our business digital banking Straight to Bank or at a branch near you.

  • Foreign exchange can be bought to support settlement of transactions in foreign currency e.g. payment of school fees abroad, purchases etc.

  • Currencies are available as per our counter rates sheet as displayed in the Standard Chartered branches board rates.

  • Markets move depending on various factors e.g. geopolitical events, change in commodity prices such as oil, gold, silver etc

  • For the purchase of any foreign currency, always ensure that amounts and currencies being sent are accurate to avoid reconciliation challenges.

  • We currently do not offer prepaid cards.

  • We currently do not offer prepaid cards.

  • We currently do not offer prepaid cards.

  • For purchases above USD 10,000 or equivalent in other currencies, you will be requested to provide proof of underlying for the respective transactions.

  • We currently do not offer prepaid cards.

    Online platforms such as the SC Mobile App and Straight to Bank can only be used for electronic payments

  • Settlement for purchases and sales via online platforms is instant.

  • We currently do not offer prepaid cards.

  • Advance notice is only required for cash purchases which can be done at any Standard Chartered Branch near you.

  • Yes, forex can be purchased online but for online payments only.

  • Yes, cancellation of a forex transaction that has already been booked will attract a charge due to adverse market movements.

Terms & Conditions