Foreign Exchange Service

Foreign Exchange Service Overview

Benefits of a foreign exchange service

Many U.S. companies prefer to do business in U.S. Dollars. While sometimes this can be ideal, it can also unintentionally cause a loss in export opportunities or increased pricing on imports. By utilizing our Foreign Exchange services, you can minimize your foreign exchange risk and maximize your sales and purchasing opportunities.

What our foreign exchange service provides

  • Our full range of foreign exchange products includes the services of our trading desk and our experienced staff 
  • Assistance in formulating and executing a corporate foreign exchange policy for your company 
  • Access to timely market data, our trading desk will provide competitive quotes on your foreign exchange requests
  • View rates, track and report your currency activity online via FirstMerit e-Connect Global®

Additional Information

You can minimize your risks in the currency markets with specially designed products, including:
  • Spot contracts: Used for conversion of one currency to another and settling in two business days
  • Forward contracts: Used to convert one currency to another at some future date 
  • Window option contracts: Similar to a Forward Contract but can be acted on in a particular, pre-defined time frame (or “window”) 
  • Options: Used to give the exporter the “option,” but not the obligation, to receive or deliver an agreed amount of currency to FirstMerit in exchange for U.S. Dollars at a specified rate

Let's Talk

For a current exchange quote, call: 800-237-6384