AccessFX is an innovative product that provides customers online access to executable foreign exchange rates across a wide range of currency pairs in spot, swap and outright forward contracts.  The service is delivered to customers via secure Internet straight to their browser and allows the bank’s customers to trade foreign currencies from the convenience of their homes and offices anywhere in the world.

With this, Nigerian importers can now ask their offshore suppliers to bill them in the local currency of the country of import and therefore avoid the significant mark-ups, of up to 10%, that are added by suppliers to hedge against currency fluctuations when asked to quote in United States Dollars – rather than their own local currency.  AccessFX provides 24/7 access to competitive real time quotes to customers.

The key benefit to our customer is the significant savings of up to 10% that they can make by avoiding the additional currency margins added to their import bill by suppliers.  Other benefits of AccessFX include:

• Email notification for every trade done;
• There are no downloads required and no system requirements apart from an internet browser
• Transparent pricing as the prices are streamed from the international currency market on a real time basis;
• Trade spot, forwards and swaps to hedge against exchange rate fluctuations;
• Query for previous trades done on the platform;
• It is a value added service that would empower our customers to monitor FX purchases for their trade transactions;

AccessFX is designed to transform the way customers do their FX trades by ensuring convenience and cost reduction.

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