Q.
How much can we transfer using HiFX’s Foreign Exchange Dealing services?
A.
Corporate FX Dealing Services are only available for businesses that transact in excess of $5million of FX per annum. There is no maximum limit, though some minimum transaction sizes may apply, depending on the type of foreign exchange transaction that you wish to undertake.
Companies that trade below $5 million per annum can still take advantage of our highly competitive exchange rates available via our Corporate Online International Payments service.
Q.
Is our money safe with HiFX?
A.
HiFX Australia Pty Limited is regulated by the Australian Securities and Investments Commission, AFS Licence No. 240917.
HiFX Online uses VeriSign – the system preferred by 97% of the World’s top 100 banks and 93% of Fortune 500 companies. VeriSign is also used billions of times a day by companies and consumers across the World.
Some additional facts and figures about HiFX include:
- Last year HiFX advised on and executed over $14.5billion in foreign exchange and is trusted by over 40,000 people and 2,000 corporate clients each year around the world.
- We have an exceptionally strong balance sheet and no debt.
- HiFX has offices in both the northern and southern hemispheres and a workforce of over 200 employees.
- We have in excess of $3billion placed on the Money Markets on behalf of our commercial customers.
- HiFX is one of the first third party companies to be promoted by Westpac Banking Corporation. As of 30 September 2009 The Westpac Group employed approximately 37,000 people worldwide with global assets of $590 billion. For more information please visit the Westpac website.
Q.
What types of transactions can we undertake?
A.
Spot, Forward and Market Order transactions are all available. Please discuss your needs with your personal dealer who will explain the best option for your requirements.
Q.
How is our exchange rate calculated?
A.
This depends on a number of factors:
- The amount you’re transferring
- The currency you’re buying
- The exchange rates at the time of purchase
Q.
How does HiFX make money?
A.
Like your high street bank we make our money in the difference between our buy and sell prices i.e. the spread.
Unlike your bank, we don’t load on extra charges. We also have much lower overheads and buy huge volumes of currency each year, so we can pass these extra savings on to you.
Q.
What payment methods can we use?
A.
You pay funds to HiFX via electronic transfer.
Q.
Do you offer transaction timing advice?
A.
Yes to FX Dealing Clients. Timing of transactions can be critical. Your personal dealer cannot predict exchange rate movements, but will provide vital market information to help inform your buying and selling decisions. With HiFX you’re not obliged to accept the on-the-day exchange rate, so you can make currency fluctuations work for you.
Of course, with opportunities come risks and we offer a range of advice and hedging tools, including forward contracts, limit orders and stop-loss orders to protect you.
Q.
How do we keep track of payments?
A.
Our secure and convenient online payments service ensures you’re able to process international payments with ease in a controlled and cost effective manner.
You can manage your account 24/7 online, wherever you are in the World. You can set up multi-beneficiary payment templates and settlement instructions. You can prepare individual or bulk payments for authorisation, approve payments and keep track of all transactions.
And, of course, your personal dealer is always ready to offer support and answer queries.
Q.
What other services does HiFX offer?
A.
Our corporate foreign exchange services include online international payments. We also provide private individuals international money transfers.
Q.
What is HiFX’s Privacy Policy?
A.
We are committed to protecting your privacy both on and offline. View a copy of the HiFX Privacy Policy.