Foreign Exchange

INTRUST offers a full array of foreign exchange services enabling you to conduct business anywhere in the world. Consult with our currency professionals when denominating your payables and receivables in a foreign currency and see what a difference it can make.

A forward contract is an agreement to buy or sell a specific quantity of foreign currency at a set exchange rate for delivery on a specified future date or within a certain period of time. The purpose of a forward contract is to hedge currency exposure.

When should you hedge?

Before closing a sale, obtain a forward rate quotation for the currency in which the invoice will be denominated and the date or range of dates when payment will be received. This will protect the value of the sale when the currency is converted.
For import letters of credit denominated in a foreign currency, arrange a forward contract to lock in a rate when the draft is payable. This will avoid having to pay more for the merchandise than originally anticipated.

Contact us to learn more.

For more information about our International Banking services, visit our international banking resource center, e-mail us or contact an International Banker at 316-383-1300.

INTRUST Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules. Those rules include a temporary increase in coverage from $100,000 to $250,000 per depositor through December 31, 2013. INTRUST Health Savings accounts are covered by the FDIC’s general deposit insurance rules, but are not eligible for the additional coverage.