Commercial Foreign Exchange Services

Dynamic support for today's global market

Avoid the difficulties many companies face when dealing with international trade. Our commercial foreign exchange services, support and advice can help you enhance your ability to conduct business, manage your cash flow and protect your bottom line.

Spot Transactions

Lock your funds transfer to a current rate of exchange. These are typically used for immediate delivery of funds. Most currencies are delivered in 2 business days. Take advantage of good prevailing rates.

Forward Contracts

Foreign exchange services help you purchase or sell a specified amount of a foreign currency at a future date and at a set exchange rate. If exporting, you can lock in an exchange rate prior to your receivables coming due to help protect against a depreciating currency. If importing, you can establish a fixed value for payables thereby securing your profit margin.

FXEnvoy

What is Ally Private Wealth FXEnvoy?

Ally Private Wealth FXEnvoy allows users to execute real-time payments in most major and emerging market currencies, and view or print transaction receipts online. You'll also have direct access to your multi-currency account, if applicable.

Execute spot and forward trades, swaps and drawdowns
Real-time foreign exchange rates
View multi-currency account (MCA) balances and initiate wires
View account statements, receipts and payment histories
State-of-the-art security features

MCAs

Benefits of Multi-Currency Accounts

Multi-Currency Accounts (MCAs)DD make it easier to manage inbound and outgoing foreign currency wires and help expand business outside the US.

Deposit foreign transactions into an MCA, limiting your exposure to market fluctuations
Conduct outgoing wiresD
Choose when funds get converted into US dollars
Pay your foreign vendor out of your MCA to manage funds more effectively
Get FDIC insurance protection on your foreign transactions
Integrate with FXEnvoy so you can view balances, print statements and reconcile transactions from the convenience of your computer

Foreign Currency

Make business and travel abroad secure and simple

Get the foreign currency you need to do business in other countries.

Remote Deposit Capture

Deposit money from anywhere

Deposit checks remotely for faster processing and extended deposit hours.

FXEnvoy is our online international payments client portal that empowers businesses with a fast, efficient and secure method for facilitating international business from the convenience of their computers. It offers real-time FX rates, FX payment and risk management solutions as well as our new Multi-Currency Accounts in a secure online environment.

Sending an international payment online with FXEnvoy is a simple process that can take less than a minute. Just book your FX transaction online and apply your beneficiary’s payment instructions. Once you book your exchange rate, it’s locked in and will not fluctuate prior to delivery.

Unless the beneficiary has specifically requested US Dollars, generally, it may be beneficial to send your payment in the local currency of the beneficiary. US dollars sent to an account that is denominated in a foreign currency may take longer to be received and may incur higher bank charges than if you send the local currency.

A wire transfer is more efficient than a foreign draft and funds are usually available immediately upon receipt by the beneficiary.

IBAN stands for International Bank Account Number. It’s a domestic account number standard for all retail and commercial payments in the European Union. A growing number of other countries have also adopted this same format for routing domestic payments. IBANs are assigned by foreign banks to their customers and can consist of up to 34 alphanumeric characters.

Our payment platform has a built in IBAN validation that will let you know if the IBAN is not valid.

We utilize multiple layers of security in order to help safeguard your confidential information including two-factor authorization and maker-checker functionality for templates and payments.

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Multi-currency accounts are available in selected major currencies. To open an account or learn more, visit your local Ally Private Wealth branch.

There's a fee of $25 per wire.

Account openings and credit are subject to bank approval.

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Bank deposit products are offered by Ally Private Wealth. Member FDIC and an Equal Housing Lender. icon: sys-ehl.