Brookline Bank is making available a new suite of Foreign Exchange Services designed to help businesses of all sizes complete and securely manage their overseas transactions. With international transactions becoming more prevalent even among small businesses, the Bank now offers customizable online solutions and expertise from a team of Foreign Exchange Advisors to help businesses address the fast-paced realities of the global currency marketplace.
“Brookline Bank’s Foreign Exchange Services provide a complete solution for any business that deals with overseas transactions,” said Darryl Fess, President and CEO of Brookline Bank. “A business no longer needs to look to a global bank to get sophisticated foreign exchange (FX) solutions. We can now deliver these services more efficiently for our clients with the flexibility to meet their specific needs. And we can guide them with personal, hands-on attention every step of the way as only an institution like Brookline Bank can do.”
For more sophisticated businesses, the Bank is introducing Brookline Bank-FX, a secure and user friendly online platform that helps correctly organize and submit what can be complicated foreign currency payments and hold foreign currency balances for future use. In addition, Brookline Bank-FX offers competitive exchange rates and maintains a transparency in payments rarely found in today’s international currency market.
Additional features of Brookline Bank’s Foreign Exchange Services include:
- Spot Contracts: Two business day delivery in the foreign center.
- Forward Contracts: Purchase or sale of currency for a future date.
- Variable Delivery Forward Contracts: Settlement can occur over pre-defined time periods.
- Risk Management Advisory: Comments and planning help from experienced FX Advisors.
- International Wire Transfers: Movement of funds in a quick, safe and transparent way.
- Foreign Currency Wallet: Holds foreign currency for on demand use – with no fee.*
- FX Drafts: Foreign currency drafts sent via our international correspondent banks.
- FX Banknotes: Foreign currency transfers delivered to accounts within 48 hours.
- International Check Collections & Cash Letters: Timely settlement of foreign denominated checks for payments.
Business customers can review more information about Brookline Bank-FX’s online features and specific foreign exchange product offerings on the Brookline Bank website at: https://www.brooklinebank.com/commercial/fx.
*Foreign Currency Wallet Funds are not FDIC insured
All foreign currency transactions are subject to foreign currency exchange risk. Customers are not protected against foreign currency exchange rate fluctuations by FDIC insurance or any other insurance or guarantee program. In addition any monies in the Foreign Currency Wallet are not FDIC insured.
About Brookline Bank
Brookline Bank is a subsidiary of Brookline Bancorp, Inc. (NASDAQ: BRKL), and is headquartered in Brookline, Massachusetts. A full-service financial institution, Brookline Bank provides individuals and businesses with deposit and lending services, residential mortgages and home equity lending, commercial and CRE banking, cash management, merchant services, foreign exchange services and access to investment services. Brookline Bank operates 25 offices in Greater Boston. For more information go to brooklinebank.com. Brookline Bank is an Equal Opportunity and Equal Housing Lender. Member FDIC / Member DIF.