Extended Flexi Multi Currency Transaction Forward

Forex transaction flexibility for ease of investment

Short Sell

Forex transactions without owning these currencies

Easy Transaction

Transactions anywhere with low placement nominal

Flexible

Many currency options with flexible terms

Other Advantages

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Global Access

Wide range access to ATM in Indonesia, Malaysia, and Singapore

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Rates, Charges and Interest

There are no interest and fees charged

    Terms and Condition

    Disclaimer

    Interest and Fee

    Other Information

Conditions for Applying Extended Flexi Multi Currency Transaction Forward

  • Must have an FMCT account at Bank OCBC NISP opened at a branch office
  • Sign the Agreement on the Provision of Foreign Currency Transaction Facilities with a roll-over (Extended FMCT Forward) accompanied by initials on each page.
  • Provides a Cash Margin placed on a Customer's FMCT account at the Bank with a minimum amount of 100% equivalent to each Extended FMCT Forward value.
  • If the amount of Cash Margin during the transaction period falls below the minimum requirement of 50%, the Customer is required to top up the margin so that the collateral value (collateral) returns to 100%.
Disclaimer
 
1. You hereby acknowledge that you have read, received explanation and understood the product and/or service as specified in this Summary of Product and/or Service Information (“Summary”) and have informed, understood and accepted any consequences of product and/or service including all inherent benefits, risks and costs.
 
2. This Summary is intended only as an information and does not aim to be a basis for investment decisions. Past performance is not an indication of future performance. Any proposal documents for investment related products, must be studied further. Any projections, opinions or other statistical facts displayed in this information are only an indication and are not guaranteed in any form. You must determine your own decisions in accordance with the needs and investment strategies by considering legal, tax and accounting issues. Based on good intentions and moral responsibility, Bank OCBC NISP and each of its employees are not responsible for any direct or indirect losses, or as a consequence arising from the use of and dependence on this information in an investment decision.
 
3. Bank OCBC NISP reserves the right to reject your product and/or service application if it does not fulfil the requirements and the application of laws and regulations.
 
4. You have to carefully read this Summary and contact Bank OCBC NISP if there are further queries in respect of the product and/or service contained in this Summary.
 
5. This Summary has been adjusted to be in accordance with the provisions of regulations including the regulations of Financial Service Authority.
 
 
This Summary is made in English and Bahasa Indonesia, and in the event of inconsistency between the version, Bahasa Indonesia shall prevail.
 
PT Bank OCBC NISP Tbk terdaftar dan diawasi oleh OJK dan merupakan peserta penjamin LPS
There are no interest and fees charged

Other Information
 
I. Product Description
 
Extended FMCT Forward is a transaction to sell certain currencies even though the customer does not have the currency (Short Selling). Extended FMCT Forward is available in a variety of currency options traded at Bank OCBC NISP except IDR, SGD, and Exotic Currencies
Customer must submit Cash Margin as collateral with minimum of 100% equivalent to the value of the Extended FMCT Forward transaction.
Foreign exchange transactions done by customer, beginning with a Short Sell with a Forward Currency of a maximum of 3 months, where the maturing foreign exchange transactions can be extended repeatedly to a maximum total tenor of 1 year, where the tenor of each extension is Forward 3 months maximum
Customers can close open positions by buying currencies in previous Short Sell positions with Forward transactions up to 3 months, Spot, Tomorrow, or Today currencies in accordance with the settlement date of the Short Sell positions that is open.
If the amount of Cash Margin during the transaction period falls below the minimum requirement of 50%, the Customer is obliged to top up the margin so that the collateral value (collateral) will returns to 100%.
 
In an Extended FMCT Forward transaction, the customer cannot withdraw funds until the open transaction position is closed / completed by customer and has matured.

II. Product Simulation
 
Example of FMCT Transaction:
On January 21, customer makes a EUR selling and USD Buying transaction at a price of @ 1.0900, in the amount of EUR 10,000 for a period of 7 days, with a guaranteed cash margin of USD 0,900
 
 
On January 22, the movement of the EUR currency declined, giving a profit to the customer. The customer closes the position by making a transaction to buy EUR selling USD at a price @ 1.0830
 
 
Profit /loss calculation:
From the above conditions, the customer will get profit of USD 70, with the following calculation:
Transaction on Jan 21: EUR 10,000 X 1.0900 = USD 10,900
Transaction on Jan 22: EUR 10,000 X 1.0830 = USD 10,830
 
Profit: USD 10,900 – USD 10,830 = USD 70

III. Risk of Product and Other Information
 
1. Market Risk
Risks arising from movements in the value of currencies where the customer can suffer losses if from the moment the position is opened until the transaction settlement date, the currency value always moves against the customer's expectations
 
 
2. Feature Risk
Customer cannot withdraw Cash Margin if the open position has not been settled

The customer must top up Cash Margin if the previous Cash Margin is not enough to close the open transaction position.
 
If the customer fails to top up Cash Margin to complete the transaction, the bank has the right to cancel the Customer's transaction and the customer collateral (cash margin) will be debited to settle all costs

IV. Facility / Channel
 
Transactions can be done at all Bank OCBC NISP branch offices

V. Complaint Procedure
 
Customers can submit complaints related to products through:
 
1. Call OCBC NISP at 1500 – 999 (domestic call) or 021-26506300 (overseas call)
2. Contact Relationship Manager (RM)
3. Email to callcenter@ocbcnisp.com
4. Click www.ocbcnisp.com

VI. Apply Now

1. Visit Bank OCBC NISP branch or contact the OCBC NISP Relationship Manager
2. Get the explanation about the product, illustrations, simulations and product risks
3. Complete the required documents and requirements

Achievements

List of OCBC NISP Awards in keeping the quality and trust for the Customer

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Popular questions about Extended Flexi Multi Currency Transaction Forward

Extended FMCT Forward is a transaction to sell certain currencies to USD even though the customer does not have the currency (Short Selling). Extended FMCT Forward is available in a variety of currency options traded at OCBC NISP Bank except IDR, SGD, and Exotic Currencies Customer must submit Cash Margin as collateral with minimum of 100% equivalent to the value of the Extended FMCT Forward transaction done by customerv

Ease of transaction, since it can be transacted anywhere in all OCBC NISP branch offices, with a relatively low minimum nominal transaction placement, and flexibility since it is available in a variety of currency options, which allows customers to take advantage of market momentum

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Forex transaction flexibility for ease of investment