Currency Alert Archive

Due to stricter AML regulation all payments must include the following information for both the by order party, as well as the beneficiary party, account number, name, and address.  If the information is not provided, all payments will automatically be rejected. 

Temporarily not available via FX4Cash but is expected to be re-introduced soon.

Effective July 1, 2016 Belarus will be adopting BYN as its legal tender after the re-denomination of BYR.

FX4Cash Holiday Market Hours will be as follows:

Per the central bank announcement regarding the lift of FX controls in Argentina, FX4Cash has temporarily suspended all ARS trades.  We will provide more information as it becomes available. 

Please note that we are only able to make ARS payments to beneficiaries that hold ARS accounts at these banks:

Effective immediately, we are no longer able to process UYU payments to beneficiaries that hold UYU accounts with HSBC Uruguay.   

Central Bank Circular of April 17, 2015 prohibits to use of any other currency but NGN for the payment of domestic transactions originated in Nigeria.

ANG Netherland Antilles Guilder  We are unable to make ANG payments to PONECWC1 - Postpaarbank Van De Nederlandse, NCRTCWCA - Banco Nacional de Credito CA, GIRCCWCC - Girobank International, BBICCWCW Blue Bank Internation, UDIBCWCU - United international, CARACWCU Bancaribe Curacao, CITCCWCU Citco Banking Corporation, FCIBCWC2 - First Caribbean International

Please note Tax/ID requirements are necessary: for individuals an 11 digits "cedula" or their passport number, and for institutions this will be the "RNC".

Clients based in India cannot initiate payments to Bangladesh (BDT), Pakistan (PKR), Sri Lanka (LKR) and Nepal (NPR) through FX4Cash since these currencies are governed by the Asian Currency Union (ACU) regulations in India. Local operations in India have a separate manual mechanism to initiate payments to these countries. Please contact the FX4Cash Product Specialist team for any queries or clarifications on this.

Effective immediately, individual to individual payments will no longer be supported via FX4Cash. Payments from corporations/organizations to individuals are only accepted if they are for salary payments or consultant fees. To ensure these payments are completed on a timely basis, please include purpose of payment at all times.

FX4Cash Holiday Market Hours will be as follows:

Effective January 1, 2015 All payments must include a Purpose of Payment or risk being rejected.  Please select the purpose of payment from the table on the currency guide.  The code followed by the description should be entered in the remittance information field (f70).  Please see the currency guide for full details on formatting.

Effective January 1, 2015 Lithuania will be adopting the EURO as its legal tender.

As of December 17, 2014, LTL will no longer be available on FX4Cash.

Temporarily not available via FX4Cash

It is no longer necessary to inform your Client Service Officer for amounts over equivalent of USD 1 million. 

Please consult the currency guide details for full requirements and details.

New Purpose of Payment codewords will become effective as of May 19, 2014.  This is a mandatory requirement.  Please see the CNH currency guide details for the new table of codes.

May 29,2014  REMINDER    

IBAN is now required for JOD and QAR.

JOD Jordian Dinar: IBAN is a mandatory requirement (30 alphanumeric characters) effective February 2, 2014.

QAR Qatar Riyal: IBAN is a mandatory requirement (29 alphanumeric characters) effective May 1, 2014.

VND: Vietnamese Dong

For beneficiaries that are individuals, the date of birth will now be required.

  In order to improve the payment process, the beneficiary bank's CITAD code (8 digits), payment clearing code is strongly recommended.  The first 2 digits represent the Region code, followed by 3 digits representing the Bank Code; the next 3 digits identify the Branch. 

  The business registration number (business/corporate) is no longer required.

Supporting documentation is necessary for amounts above AMD 20 million, if the remitter is not the same as the beneficiary.

We are only able to effect payments to the following beneficiary banks:  Royal Bank of Canada, First Caribbean Bank, and Scotia Bank. 

HRK: Croatian Kuna

   IBAN is required as of June 1,2014 (21 alphanumeric characters).

FX4Cash Holiday Schedule    Happy Holidays!

The FX4Cash Team

FX4Cash will no longer support LVL from December 13th onwards in preparation for Latvia joining the Euro zone officially as of January 1,2014.  The official central conversion rate will be 1EUR = 0.72804 LVL.

Effective immediately payments in IQD are temporarily unavailable in FX4Cash until further notice.

FX4Cash is able to execute ARS payments for all amounts.  The minimum restriction of USD 50K restriction has been lifted.  A one-time pre-trade set-up requirement is still necessary before executing the payment per beneficiary.  Please review the list of beneficiary banks that we are able to make payments to.  They are listed on the currency guide.

Beneficiary account number must be formatted as 20 digits.

Effective September 1,2013 - Updated VO Code List, an amendment to regulation 138-I.

Please see the currency details for RUB on the currency guide for new VO Code list.

EGP Payments may be delayed.

This is an update on EGP payments given the political/market conditions in the market.  Local market is working half days, and therefore payments may be delayed.  Central Bank has announced a banking holiday today, (August 15th).  Overall there has been no disruption to service.

Effective immediately, VND is available.

Please note VND is temporarily unavailable in FX4Cash

Effective immediately, IBAN is recommended on all payments.  It consists of 21 characters.  It will be a requirement from June 1,2014 onwards.

Effective immediately The following are new requirements for payments in Pakistan.                    (1) Beneficiary contact information (Name, address, telephone number, and email).       (2) Beneficary Bank IBAN 

The beneficiary bank information must also have either the branch name or branch code.  The branch code is comprised of 6 digits.

Minimum threshold has been increased to KRW 50,000 per transaction.

A minimum threshold of USD 50.00 equivalent per transaction is effective immediately.

IBAN (29 characters) is now required on all payments to Brazil.

Beneficiary account number must be provided in complete format or payments will be rejected in local clearing systems: 24 digits

The regulations have changed in Georgia whereby we are no longer able to make payments to third parties. We can only make GEL payments if the ordering customer is the same as the receiving party.

Effective immediately, please provide the IBAN number together with the purpose of payment for each transaction.

IBAN is composed of 22 letters and numbers.

It is now necessary to provide the IBAN number (28 letters and numerical digits), a Tax ID of the beneficiary, and the Beneficiary Bank's Branch Code (6 digit numercial code, along with the purpose of payment for each transaction.

The burden of documentation passes onto the remitter for all transactions over USD 1 million equivalent.  The remitter must provide a copy of documentation relating to the declared purpose of payment to the Client Service Officer or FX4Cash.Ops@db.com prior to execution.  FX4Cash and it's external provider will apply to the Central Bank for approval to execute the transaction on the remitters behalf based on the documentation and purpose of payment provided.  The approval process typically takes 24 hours at most.  Upon approval, the remitter will be contacted for further coordination for execution. 

CNH - Off-shore CNY is now available as a receivable currency.  Also, CNH is now available as a debit currency for the locations of Hong Kong and Singapore.

1.       The new URL for access to the FX4Cash internet site for the latest version of the currency guide is:

          http://cbs.db.com/new/fx4cash/index_fx4cash.html

1.       As of December 8^th,  FX4Cash has suspended payments for forward trades with a tenor (value date) greater than spot, due to the Dodd Frank regulation.

FX4Cash Holiday Market Hours will be as follows:

24^th December: pricing will remain available until the market close of 17:00 New York time (22:00 GMT).

25th December: closed – prices will not be available.

26th December: pricing will resume at market opening of 05:00 Sydney time (18:00 GMT of the 25th) and will remain available for the rest of the week.

31st December: pricing will remain available until the market close of 17:00 New York time (22:00 GMT).

1st January: closed – prices will not be available.

2nd January: pricing will resume at market opening of 05:00 Sydney time (18:00 GMT of the 1st).

Note that all 'auto-convert' instructions submitted during closed periods will default to the next available tradable business date. The applicable rate will be the rate available on that next tradable date, not the date the transaction was received by the Bank.

In case you need further clarification on the availability of FX rates during these holidays or have an inquiry requiring operational or product assistance please contact us at fx4cash.ops@db.com and fx4cash.group-4@db.com.

Regards,
The FX4Cash Team

FX4Cash announces a change in its payment capability for:  LBP Lebanese Pounds

Effective immediately we are temporarily suspending this capability. 

We will be providing more information as it becomes available. 

As of January 1^st  the Zambian Kwacha will be redenominated (1/1000),  and the currency code will change from ZMK to ZMW.  Officially ZMK will be continued to be traded until December 31^st and from January 1^st onwards ZMW will be used.   FX4Cash will temporarily stop the payment capability of ZMK on Dec 19^th  .  Reinstatement of payment capabilities to Zambia will be announced at a later time.

Sept 28,2012 New VO Codes for currency transactions effective Oct 1st, 2012.

Both the VO code as well as the payment description, or Purpose of payment, must be explicitly mentioned in the Transaction Details fields of the Payment Instruction, expected format: ((VO12345))+free format text.

The purpose of payment must be included in the payment detail (field 70) of each payment.

Please use the exact text from the "Type of Transaction Purpose" table on the details page for IDR.

This is necessary information for each transaction based on currency regulation and required Central Bank reporting.

CNH - (Off-shore CNY) is currently available for payments between CNH accounts held off-shore as well as X-border payment into mainland China.

CNH payments between off-shore accounts:

• Can be used for all payment types.
• Beneficiary can be a corporate.
• Beneficiary can be an individual.

CNH payments into mainland China (X-border):

• Can be used for commercial and trade related payments, and capital flows (goods and services relating to import/export, capital, and intercompany flows).
• Beneficiary must be a corporate that has import/export scope in their business license.
• Beneficiary cannot be an individual.

• HKD- Hong Kong Dollar  of HKD 150.00 per payment.
• IDR - Indonesian Rupiah  of IDR 200,000 per payment. (IDR Restriction is no longer valid).
• UGX - Ugandan Schilling of UGX 50,000 per payment.

Please provide Purpose of Payment for the following currencies:

IDR- Indonesdian Rupiah: (Please consult the currency guide for complete list).  KRW- South Korean Won (Please provide the purpose of payment as well as the beneficiaries name and telephone number for all deals).  MYR- Malaysian Ringgit: (Please consult the currency guide details for formatting requirements). NPR- Nepalese Rupee: Purpose of payment must be provided. TWD-Taiwan Dollar: (Please provide the purpose of payment as well as the beneficaries name and telephone number for all deals.)

Please note that MT202's are not supported in this currency.  Movement of KES between two off-shore banks is not permitted.  Customer's can not be a financial institution.(Nov 10th,2011)KES - Kenyan Schilling is now available again.  It had been temporarily unavailable since Oct 25,2011 due to a change in FX controls.

• AED - United Arab Emirates by November 19,2011 (three month grace period will be granted ending Feburary 17,2012).

• BHD - Bahraini Dinars by January 31, 2012

• TRY - Turkish Lira by January 1,2012 (Requirements Postponed to 2013 as of Dec 23,2011)

Effectively immediately, the purpose of payment is required for all deals.

Please note that the Bank Code number is no longer a requirement.

We are only able to make PYG payments to beneficiaries that hold their PYG accounts with Itau/Interbanco and Citibank Paraguay branches.

Additional requirement: Beneficiary Tax id number (RUC) must be included with payment detail.

Additional requirement: Beneficiary Tax id number (Cedula Jurdica) must be included with each payment detail.

Effective immediately AZN has been re-enabled.  Payments in AZN are available again.  The reason for the interruption was a technical one, not the merit of any changes in the market place.

Both paymens and receivables, pre-spot and spot are available.

We are now able to make payments only for value spot. Please provide purpose of payment.

FX4Cash has suspended transactions to the Ivory Coast only, the RTGS system at the regional Central Bank continues to be suspended.

Introduction of the use of IBAN for all inward an outward commercial transfers between local banks.

Payments to ARS, AZN, IQD, ISK, KYD, LBP, MKD and VEF are temporarily suspended.