Foreign Exchange Operations for Corporate Banking

Foreign exchange operations relate to converting one currency into another, in line with the current market exchange rates. The operations are settled in up to 2 working days from the date of the transaction. Operations involve all the main currencies and their respective exchange rates. The rates at which the conversions are carried out depend on the amounts. For amounts lower than €10,000 (or the equivalent in foreign currency), Piraeus Bank’s FX Price Bulletin applies . For amounts higher than that, the current market rate applies.

Dedicated Services

 1.  Direct communication

Companies that frequently carry out a large volume of transactions can contact the relevant Piraeus Bank department directly for pricing issues, transactions and market briefings. This has to be arranged in advance.They also have the option of receiving relevant reports with updates on international markets via email. The reports include Market Briefing and the Biweekly Market Calendar.

 2.  Open orders

Piraeus Bank offers you the option to place an order to sell or buy foreign exchange at a specific exchange rate, which may be different from the current rate. Such an order is valid for a specific timeframe. An order may be intraday, i.e. it is valid until the end of business day and is cancelled automatically if it is not executed. An order may also be placed for a shorter or longer period of time and may be valid until it is executed or until it is cancelled by the customer. Foreign exchange orders are monitored around the clock and relate to amounts higher than €100,000 or the equivalent in foreign currency.