General Information

Spot Transactions

General Information

A forex spot transaction is an agreement between two parties. They agree to buy or sell one currency in exchange for another. For spot transactions, delivery is generally two business days after conclusion.

A spot transaction can be used to immediately convert one currency into another. This is an irrevocable agreement that must be kept in all cases. The currency exchanged via spot transaction is generally delivered two business days after the transaction has been concluded. Of course, a different maturity date (today, tomorrow, or later than two days) can be negotiated. This is then known as a forward transaction, because the interest rate difference must be factored in. The requirements for concluding a spot transaction are an account at Credit Suisse, the relevant foreign currency accounts, and the required balance.

What is a spot transaction? 

A spot transaction is a currency exchange in which the delivery of the exchanged currencies generally occurs two business days after the transaction has been concluded.

Can I also conduct a transaction with today as the value date?

Yes, this is possible taking account of the interest rate difference. During our business hours (7:00 to 18:00) you can cover account balances with a value date of today. These transactions normally appear immediately in your account.

Does always the same exchange rate applies?

No, Credit Suisse uses different amount categories.

What can I do if I have a temporary bottleneck in one currency, but have enough liquidity in another one?

You can use a forex swap (combination of a spot transaction and a forward transaction) to efficiently manage your liquidity.

Can I place my currency exchange with Credit Suisse at a desired rate?

Yes, for amounts of CHF 250,000 and up, we can monitor limited orders for you around the clock. As an alternative, you can define a call level, i.e., we will inform you (during our opening hours) when the desired rate has been reached.

Why are banknote rates worse than forex rates?

Purchasing and selling notes requires a lot of manual work. Notes must be procured from the country of origin or sent back, which means transport and insurance costs. These are not proportional for smaller amounts in particular. The banknotes also do not generate interest.

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