Forward Contracts - Fix your exchange rate for future transfers
Lock in today’s exchange rate for a transfer you’ll make in the future.
A Forward Contract helps you protect your budget from exchange rate movements and plan ahead with confidence.
If you know you’ll need to send money overseas in the coming months, exchange rate changes can affect how much your transfer costs.
A Forward Contract allows you to secure a rate now for use at a future date, helping you avoid uncertainty and stay in control.
Key benefits of Forward Contracts
No need to watch the market
Once your rate is secured, you don’t need to track daily movements or worry about timing your transfer.
Plan your budget with confidence
Fixing your exchange rate helps you manage large payments and ongoing commitments more effectively.
Secure your rate with a small deposit
You can lock in your rate today with a deposit, then complete the transfer later when your payment is due.
Designed for future transfers
Forward Contracts are ideal for property purchases, regular payments, or any transfer with a future (or uncertain) deadline.
Real life scenario
How a Forward Contract can help
Exchange rates can move significantly between agreeing a purchase and making the final payment.
Here’s how planning ahead can protect your budget.
Plans are confirmed
A buyer agrees to purchase an overseas property for $400,000, with settlement due in three months.
Exchange rate risk
At the time of agreement, the rate is favourable. But if it moves before settlement, the final cost could increase.
The impact of waiting
Even a small shift in the exchange rate could add thousands to the total amount required.
Securing the rate early
By using a Forward Contract, the buyer locks in the rate and knows exactly how much the transfer will cost, regardless of market movements.
Our team are available Monday to Friday, 8:30am to 6pm
Contact us today
Enquire about a Forward Contract
Let us know a little more about your upcoming currency exchange needs, and one of our currency experts will be in touch.
Avoid losing money if currencies move against you.
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Secure, quick and efficient transfers.
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Testimonials
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Having been trusted by over 50,000 customers to safely transfer their money abroad, we’ve gathered thousands of real customer reviews. See what our customers have to say on independent reviews website, Trustpilot.
Rated Excellent for Currency Exchange & Money Transfers
Rated Excellent for Currency Exchange & Money Transfers
“Great support from the team at Smart Currency. Euros bought in advance and transferred to the Notaire quickly and efficiently in good time for our closing.”
Ianarkian View all testimonialsForward Contracts FAQ
What is a Forward Contract?
A Forward Contract allows you to lock in an exchange rate today for a transfer you’ll make in the future.
This means you’ll know exactly how much your transfer will cost, regardless of how the market moves.
How does a Forward Contract work?
You agree a rate for your transfer and pay a small deposit to secure it.
You then complete the transfer at a later date, using the agreed rate, even if exchange rates have changed in the meantime.
When should I use a Forward Contract?
Forward Contracts are useful when you know you’ll need to make a payment in the future, such as buying property, making stage payments, or setting up regular transfers.
They help protect your budget from exchange rate movements.
How far in advance can I lock in a rate?
You can typically secure a rate for up to 12 months in advance, depending on your requirements.
Can I use a Forward Contract for regular payments?
Yes. Forward Contracts can be combined with regular payment plans, allowing you to fix a rate for ongoing transfers and manage your budget more effectively.
What happens if the exchange rate improves after I fix it?
Once you’ve agreed a rate, you’re committed to using it.
If the market moves in your favour, you won’t benefit from the improved rate – but you’re protected if it moves against you.
Is a Forward Contract right for me?
It depends on your situation. If you need certainty and want to protect your budget for a future transfer, a Forward Contract can be a useful option.
If you need to send money straight away, a Spot Contract may be more suitable.
Is this service safe?
Yes. We operate under strict regulatory requirements in Australia and follow robust processes to keep your funds secure at every stage.
Can I speak to someone before booking?
Yes. In order to open an account and book a transfer, all customers are required to speak directly with a currency specialist who will explain your options and help you decide if a Forward Contract is right for your situation.
