We provide a comprehensive FX risk management offering including all FX instruments.
Foreign Exchange (FX) refers to the purchase/sale of the currency of one country using the currency of another country. You can buy or sell foreign bank notes over the counter in any of our branches countrywide. This is available for all major currencies: Dollar ($), Euro (€), Sterling Pound (£) and Kenya shilling in denominations of your choice and you also get a preferential rate for large amounts.Spot Transactions
These are transactions done on one day and settlement is done after two working days. This product is extended to clients doing large transactions subject to prior arrangements and approval.
Foreign Exchange Forwards
You can arrange with our Treasury team for the sale or purchase of a specific amount of foreign currency at a specified exchange rate for settlement on a particular date up to 180 days (6 months) in the future.
This enables you to eliminate any risk of exchange rates moving between the time that commitment is first established (deal date) and the date of actual delivery of funds (value date) at no additional cost.
Foreign Exchange Swaps
Swaps allow our clients to manage the exchange and interest rate risks associated with financing and investing in currencies other than the domestic one.
Telegraphic Transfer (TT)
This is a funds transfer service where the bank remits money on behalf of its clients to foreign countries, in foreign currencies. It is efficient, secure and irrevocable. The rate, charges and value date are specified at the point of doing the transaction. The bank usually settles TT on the same date.
Foreign Currency Accounts-Savings, Current, Fixed
These are savings, current and fixed deposit accounts that are denominated in foreign currencies.
At Equity Bank, one can maintain a foreign currency account either as a savings, current or fixed deposit account. It is available in major currencies such as US Dollar, Sterling Pound and Euro