Intra Day Spot Contracts

Open Contracts

Any open contracts will be displayed in the lower portion of the Intra Day Spot Contracts section. Here you can view the details of each open contract, such as the Creation Date, Amount and Total Cost, and make drawdowns by clicking the appropriate Drawdown button.

Making a Drawdown

The amount Available for Drawdown will be indicated, then:

• 1Choose how much you wish to drawdown from the available amount by completing the Contract Amount field.

• 2Specify whether you want your payee to receive the Local Equivalent of the amount you’ve entered, or whether you want your beneficiary to receive the amount in the Foreign Currency you’ve selected.

• 3Choose how you want to pay for the transaction from the Settlement Method drop-down menu. If applicable, select the appropriate account. For all other settlement methods, click the Pay to American Express button to view receiving bank information.

• 4If you wish to make certain payments, they must be instructed to your beneficiary on the same working day the Intra Day Spot Contract is approved.

• 5Enter the Value Date on which you want the payment to be made by clicking the appropriate date in the pop-up calendar. The Value Date will normally default to two working days after date of creation. We will endeavor to value the funds on the Value Date; however, please note that some factors may delay the valuation.

• 6Once you have entered all the mandatory information, click Continue. The Summary box will show details including the Payment Amount, Rate, Sub Total, Fee and Total Cost.

Entering Payment Details for the Payee

You must also enter the information for the payee receiving the payment. To do so, either Select from your Existing Payee List or Create New.

• To select from the existing list, simply search or scroll through and click the appropriate one; the information fields on the right will be automatically populated.

• To create a new payee, manually enter the information in the fields on the right.

For wire transfers, the payee section will display the Search for Bank option, as well as the related bank information fields. Here you can search for payee bank details either by IBAN or country. After entering your search criteria, click Search and select the appropriate bank from the results displayed below; the information fields will automatically be populated.

Completing your payment

Once you have entered all the mandatory information, you have two options:

• 1If you have the required authorisation, click Accept to execute the transaction immediately. As an additional security measure, you must re-submit your Username and Password. Then click Approve Payments. If successful, you will see 'Your payment is complete' followed by the Payment Reference Number.

• 2If you do not have the required authorisation level, click Send for Approval and check the box to alert an approver by email. The transaction will be sent to Approve a Payment. For more details, view the Approving a Payment tutorial.

With both options, you will be able to Print details of the transaction or Create a Drawdown.