Societe generale expands its foreign currency payment offer

02/06/2020

Financial Institutions, thanks to its "PAY FX" offer, Societe Generale now gives you the opportunity to optimise the management

of your customers' payments in more than 100 different currencies, thus enabling an association of nearly 350 currencies. You will be able to pay in most of global currencies and capture flows sent so far by your customers via other banks.

Focus on our PAY FX offer:
It allows you to make payments in currencies for which you do not have a nostro account.

Outgoing, you will receive our exchange rates daily or find them on our SG Markets platform and will be able to issue a payment that will arrive, in the desired currency, on the beneficiary’s account at D+2 with no minimum or maximum amount requested.

Incoming, no need to hold a currency account with Societe Generale Paris, you just have to indicate Societe Generale Paris as your currency correspondent. The ordering party sends a payment in local currency to your client (+ 30 available currencies) and Societe Generale converts it into euros.

By using PAY FX, your customers will no longer need to send the EUR equivalent, USD, etc… to the beneficiary, thus eliminating the risk linked to the exchange rate currently applied by the other banks. This will simplify their cash management.

This development confirms Societe Generale’s ambition to be a major player in the FX payments market.

If you need more information, please email our team: fxgtb@sgcib.com

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