Loomis FX provides a one-stop solution for all your foreign currency processing and collection needs.
If your business accepts foreign currency then you will need it collected from your premises, processed, and paid into your bank account in GBP so you can utilise it.
Our secure vehicles collect your foreign currency on a scheduled basis to provide daily fixed rates for exchange, Loomis understands your operational needs and requirements so we offer you competitive rates and efficiency. Once we know your volumes, Loomis FX will work with you to agree a schedule for your foreign currency collections that works for you.
If you are a current Cash In Transit customer then we can collect your foreign currency at the same time as we perform those collections. If you aren’t, we can agree a schedule specifically based on your volumes and needs. We will provide you with a supply of special Loomis FX barcoded bags, and all your foreign currency should be placed in those prior to collection.
Don’t worry about mixing the currencies, just take a note of the volumes and values - we will do the rest.
How it works
Day OneOne of our 700 secure armoured vehicles will attend your site(s) on Day 1 and the custodian will present their I.D. for security purposes.
Once you have confirmed their identity, the custodian will scan all barcoded bags onto our tracking systems. The custodian will then request a signature and issue you with a receipt.
The FX bags are loaded onto one of our secure vehicles and then transported to one of our specialist Loomis FX hubs for processing.
Day TwoAt the processing centre on Day 2, the amounts are validated and processed. A cash processing report will be emailed to you containing a full break down of currencies and values.
In Norway, our Currency Risk Management team work to minimise the financial stress caused by volatility in currency rates.
Monitoring the market and conducting daily exposure analysis - they continuously calculate their position in each currency and supply customers with competitive rates on a daily basis.
Day ThreeOn Day 3, the exchanged value is credited to your nominated bank account in GBP.
Processed values can also be seen on the Loomis FX Portal, which all Loomis FX customers have secure access to.
Once logged onto the portal you can view a number of deposit history reports: by batch, deposit ID, receipt, date or by date range.
The Loomis FX portal is one of the most advanced and cost effective ordering and processing system in the industry, providing secure and direct access to all historic data.
Key features of Loomis FX
- Scheduled foreign currency collections
- A fully specialised management team
- Based in Norway they manage the risk of trading in the foreign currency markets on behalf of Loomis and its clients globally
- All Foreign Exchange transactions are performed under strict, professional supervision
- Loomis FX holds all the necessary legal permits and follows all relevant legislation.
Loomis FX is a one-stop solution for foreign currency cash management needs - call 0845 309 6419 to find out more.