Do you need to convert outgoing payments into another currency?
You want to:
• convert outgoing payments into another currency
• generate revenues coming from the F/X conversion
• mitigate the conversion risk by using a flexible offer
Available in more than 30 currencies, Auto FX allows you to convert either euro into another currency or currency into euro. Societe Generale applies to this currency pair an FX rate including a margin previously agreed with you. Societe Generale guarantees rebates on the margin realized on payment orders.
Societe Generale guarantees:
• the FX rate up to 30 calendar days in case of fund return request
• a monthly report with payment details such as the exchange rate, the original and converted currency, the value date and the margin
If you do not wish to convert some payment orders, Societe Generale can identify, via a dedicated database, issuers and/or beneficiary clients who are non-eligible for FX conversion. Built up with a list that you provided us with, this referential uses is updated in real time after each claim of fund returns in original currency. Afterwards, Societe Generale no longer converts payments for this issuer and/or beneficiary but transfers them in the original currency instead.
A flexible offer
To make your payments eligible to automatic conversion, you
• send your payments to SOGEFRPPAFX
• or send your payments to the usual SOGEFRPP address and specify REC/AFX in field 72 of your SWIFT MT103