To compete in today's international markets, it's essential for our customers to manage commitments and payments in foreign currencies. Broader markets and increased competitiveness are just some of the advantages available to our customers if they price counterparties in their local currencies. With the help of our Foreign Exchange Team, you can tap into these benefits and manage the risks associated with foreign exchange.
Our Foreign Exchange Team can assist you in managing foreign exchange exposure with a variety of strategic hedging and trading solutions. Forward transactions allow for the purchase or sale of foreign currency at a fixed rate for delivery on a specific future date or during a designated future period, to lock in a value for future payments and receipts. We offer hedging solutions tailored to your company's specific needs and will work with you to minimize currency risk as best as possible.
International Wire Transfers
Using our worldwide network of correspondents, we can wire funds in U.S. dollars or foreign currencies around the globe. Wires put your funds where you need them - on time-because they are considerably faster and more efficient than drafts.
Using wires to receive funds from overseas is the most efficient and fastest way to receive funds. The foreign bank notifies us that funds should be paid to you, and we credit your account with us the same day giving you access to the liquidity your business
needs to operate.
Foreign Check Clearing
Should you receive a foreign currency check payable outside the U.S., we can purchase that item from you, subject to final payment. This convenient service speeds your receipt of U.S. dollars. In addition, U.S. dollar checks drawn on banks outside of the United States can be sent for collection for final credit to your account. Our global correspondent network allows us to provide fast and easy check clearing for your company in many currencies.
We can issue foreign drafts in most currencies. These drafts function much like a Cashier's Check. Drafts can be used by businesses to provide payment to overseas beneficiaries. Consumers use drafts for travel expenses and to make deposits at foreign hotels. You can order a foreign draft through any Hancock Bank location or purchase it directly from our International Department.
When traveling internationally, you will always need foreign currency for small items such as taxis and other situations where credit cards aren't accepted. Purchasing foreign currency prior to your departure leaves one less thing to worry about upon arrival, and may even save you money as exchange rates may become less favorable.
We have numerous currencies on hand for immediate purchase and will arrange for delivery of other currencies within 48 hours. Foreign currency rates can be ordered at any Hancock Bank location.