Foreign exchange hedging


We can help you minimise the risks of foreign exchange in your business. All transactions involving the payment or receipt of a foreign currency amount contain a foreign exchange risk. As a trade customer it is vital to minimise this risk and we have a number of products to assist you. 


Bank of Queensland has experienced foreign exchange specialists who are able to provide you with the latest market information and advice. Through our relationships with some of the largest foreign exchange banks globally, we stay in touch with major events, currency flows and breaking news and use this information to keep you, our customer, better informed. 


If you are a regular foreign exchange customer with access to our foreign exchange sales desk, we can offer you price transparency. This means we will negotiate a specific margin from the wholesale price and stick with this margin for your foreign exchange transactions within certain criteria. At Bank of Queensland, we believe in being open with our customers, we believe in consistency and in fostering long term relationships. We don’t believe in offering a good price one day and a poor one the next.


Forward exchange contracts

A forward exchange is where you agree to purchase (or sell) a fixed amount of foreign currency at a fixed exchange rate on an agreed future date. The date aligns with a scheduled payment you need to make to a supplier or expect to receive from one. 

By taking out a forward exchange contract, you will know how many Australian dollars you will need to pay for a fixed amount of foreign currency on that future date, or conversely how many Australian dollars you will receive in exchange for a fixed amount of foreign currency.


Features and benefits

  • provides some certainty of cash flow around future foreign currency liabilities or receivables
  • amount and term set by you (subject to underlying trade transaction and credit approval)
  • exchange rate quoted by the bank
  • can be delivered early or extended in certain circumstances
  • no establishment fees for contracts over AUD 25,000 face value
  • not available for speculative purposes.

Fees and charges

  • extension fee (payable if value date of a contract is extended): $20
  • cancellation fee (payable if a contract is cancelled by you prior to value date): $20
  • establishment fee (payable on all new contracts with a face value less than AUD 25,000
  • equivalent) $20
  • fees and charges are payable on lending products
  • normal credit assessment criteria apply
  • full terms and conditions are available at any Bank of Queensland branch.

How to apply

Drop into one of our convenient locations or contact one of our international services experts on 1300 55 72 72 or email the international services team 


Important information


Guide to importing and exporting (PDF 269kb)

The Bank has developed an introductory guide to importing and exporting which covers some basic definitions and methods of payment, and highlights risks to be aware of.