afexdirect user guide6 afexdirect user guide login screen 1. select the application language. you...

AFEXDirect User Guide

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AFEXDirect user guide

Contents

Introduction 4

User Roles & Access 5

Login Screen 6

Home Page 7

Transactions – Spot/Forward 15

Transactions – Flex Forward 16

Transactions – Flex Forward/Drawdown 17

Transactions – Schedule Payment 19

Transactions – Saved Transactions 21

Transactions – Rate Order 22

Junior User- Get Quote 24

File Upload 26

Approvals 27

Approvals – Scheduled Payments 28

Approvals – Drawdowns 29

Approvals – Submitted Transactions 30

Beneficiaries – Create a New Beneficiary 31

Beneficiaries – Manage Existing Beneficiaries 34

Beneficiaries – Manage Incomplete Beneficiaries 35

Beneficiaries – BIC Bank Search 36

Reports – Transactions 37

Reports – Funding Balances 38

Reports – Scheduled Payments 39

Reports – Settlement 40

Tools – Change Password 42

Tools – Manage Currencies 43

Tools – Manage Rate Display 44

Tools – Messages 45

FAQ 46

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Glossary of terms

Scheduled Payment - a payment that has been scheduled to be sent from the client’s funding account (funding balance) where no rate of conversion is necessary, and no external funding of the deal is necessary.

Executed Scheduled Payment – A scheduled payment that has been executed. Assuming sufficient funds are available, the payment will be released. If a payment is scheduled with no funds available on your balance, the payment will not be released until funds are added.

Funding Balance – The AFEX term for a client’s vostro account. Basically, the clients holding account.

Value Date – The date when a trade will be settled (delivered).

Cash Rate – Today’s market rate

Tom Rate – Tomorrow’s market rate

Spot Rate – Rate in 2 Business Days

Forward Rate – Rate after 2 Business Days

The above examples have the rate adjusted accordingly.

The following are labels that appear on client confirmations, describing the client transaction:

Funding Drawdown – a drawdown from a Flex Forward into the client’s AFEX account. Funds are held to be scheduled at a later time.

Payment Drawdown – a drawdown from a Flex Forward to a beneficiary.

Spot Payment – a spot trade that includes beneficiary instructions.

Spot Funding Trade – a spot trade without a beneficiary attached, where funds will remain on the clients account with AFEX.

Beneficiary- Recipient of payment.

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Introduction

AFEXDirect is our online solution for everyday people that want to manage their foreign exchange dealings more effectively. AFEXDirect provides you with access to all your foreign currency balances 24 hours a day, 7 days a week, 365 days a year.

Why should I use AFEXDirect for my foreign exchange?

We have developed an industry-leading online payment solution, trusted by many thousands of customers.

Benefits of AFEXDirect:

• 24/7 Rate Quotes• Create and execute Spot Transactions and Forward Contracts.• Receive automatic verification of beneficiary banking details.• See a full history of all of your foreign exchange transactions and payments.• Full adherence to international banking and compliance requirements.• Choose from several different settlement methods including Wire Transfer, BPAY, cheque and multiple settlement accounts

direct debit.• Plan and manage cash flow with separate totals of currencies purchased and schedule payments for future release dates.• Pay Beneficiaries by DD, ACH, Wire, BPAY or draft.• Access the platform in various languages independent of your location.• Take advantage of incoming payment services with multiple foreign funding balances and cross currency functionality.

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User roles & access

View balances

SubmitFX trades

Schedule payments

Book Flex Forwards

Approve transactions

Administer beneficiaries

View reports

Manage currencies

Approver ✓ ✓ ✓ ✓

Approver & funder ✓ ✓ ✓ ✓ ✓ ✓

Approver & scheduler ✓ ✓ ✓ ✓ ✓ ✓

Approver w/Flex Forward ✓ ✓ ✓ ✓ ✓

Basic ✓ ✓ ✓ ✓ ✓

Basic w/Flex Forward ✓ ✓ ✓ ✓ ✓

Bene admin ✓ ✓

Senior ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Funder ✓ ✓ ✓ ✓

Junior w/o bene ✓ Approval required

Approval required ✓ ✓ ✓

Junior ✓ Approval required

Approval required ✓ ✓ ✓ ✓

Reports viewer ✓ ✓

Scheduler ✓ ✓ ✓ ✓ ✓

Junior scheduler ✓ Approval required ✓ ✓ ✓

Senior w/o bene ✓ ✓ ✓ ✓ ✓ ✓ ✓

Senior w/o home page ✓ ✓ ✓ ✓ ✓ ✓ ✓

Please CTRL + Click any tick to navigate to the section

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Login screen

1. Select the application language. You can choose English, Italian, German, Spanish, French or Indonesian2. Enter your username (you can find it in the AFEX welcome email)3. Enter your password (when logging in for the first time, please use the password provided in the AFEX

welcome email). Upon initial login, you will be asked for your account number, which will be provided in a separate email.

4. Refer to this section if you need to reset your password, get a username reminder or if you have technical issues logging in.

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Home page

1. Select the time period you want to view your account balances for, starting today up to 2 years in the future

2. This column displays all the currencies that your account has transacted in3. Click on the flag to buy funds in the respective currency. (This can be used to get a quick quote)

The following window will appear

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Home page - Add funds

3a. View your total, used and available limits for Spot and Forward transactions3b. Select the settlement currency3c. Select the currency that the amount is in3d. Enter the amount3e. Select the value date by clicking on the calendar icon3f. Make a transaction note to yourself (optional)3g. Get Quote to proceed, Save to finish the transaction at a later point or Clear to start over

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3h. If you click on Get Quote the Quick Quote dialog displays a summary of the transaction to be submitted:

• Value Type: Spot or Forward • Buy currency and amount • Exchange rate • Settlement currency and amount • Total limit for the selected transaction type • Available limit for the selected transaction type

3i. Select the settlement method and account3j. Click Cancel to discard or Buy to execute the transaction (Rate will hold for 30 seconds, you can requote after expiry)

3k. A confirmation containing the trade number will be displayed once the transaction has been successfully executed

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4. This column reflects the cleared funds in a given currency5. Click on the calendar icon to schedule apayment in the respective currency6. This column lists your balances in all currencies.

Click on a balance to see all the debits and credits in a specific currency for the current month, the following dialog will appear

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Home page - Scheduled payment

5.a Choose the beneficiary from the dropdown menu5.b Select the value date by clicking on the calendar icon5.c Enter the amount 5.d Select the Delivery method when applicable (High Value for SWIFT payments or Low Value for SEPA payments)5.e Enter the remittance information you want to send to the beneficiary (optional)5.f Make a transaction note to yourself (optional)5.g Click Cancel to discard or Submit to execute the transaction.

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..5.e

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4.h A confirmation containing the scheduled payment number, amount and value date will be displayed once the transaction has been successfully submitted.

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Home page - Scheduled payment

7. Access your scheduled payments for the selected currency and date range in this column by clicking on the total amount.The following dialog will appear, where you can update any payment details provided when submitting the payment or delete a payment

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Home page

8. This column reflects your available balance (cleared funds) less the scheduled payments9. Export your balance summary, funding balance per currency, scheduled payments or available Flex

Forward contracts into any of the following file formats: XLS, CSV, PDF & TSV10. See your available Flex Forward contracts here and draw down to the funding balance as needed

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10.a Enter the drawdown amount10.b Select the drawdown date by clicking on the calendar icon10.c Make a transaction note to yourself (optional)10.d Select the settlement method and account10.e Click Cancel to discard or Submit to execute the transaction

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10.f

Home page

10.f A confirmation containing the trade number and the settlement amount will be displayed once the transaction has been successfully submitted. If a deposit was paid when purchasing the contract, it will applied to the last drawdown(s) from the Flex Forward

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Transactions – Spot/Forward

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1. Select the buy currency2. Select the settlement currency3. Select the currency that amount is in4. Enter the amount5. At this point, you can select either to pay a beneficiary by selecting a beneficiary from the dropdown

menu OR send the funds to your AFEX account by ticking the Funding trade box6. Select the value date by clicking on the calendar icon7. Select the Delivery method when applicable (High Value for SWIFT payments or Low Value)8. Enter any remittance (invoice) information you want to send to the beneficiary (optional)9. Click Save to finish the transaction at a later point, Clear to start over or Get quote to proceed

10. The Get quote dialog displays a summary of the transaction to be submitted • Value Type: Cash, Spot or Forward • Exchange rate • Buy currency and amount • Settlement currency and amount

11. Select the settlement method and account12. Click Cancel to discard or Buy to execute the transaction (Rate will hold for 30 seconds, you can

requote after expiry)

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Transactions – Flex Forward

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If Flex Forwards are enabled for your account, this product will be available online.1. Select the buy currency2. Enter the amount3. Select the window start by clicking on the calendar icon4. Select the window end by clicking on the calendar icon5. Make a transaction note to yourself (optional);6. Click Save to finish the transaction at a later point, Clear to start over or Get quote to proceed

7. The ‘Get Quote’ dialog displays a summary of the transaction to be submitted: • Exchange rate • Buy currency and amount • Settlement currency and amount • Total limit for the selected transaction type • Available limit for the selected transaction type

8. Select the settlement method and account9. Click Cancel to discard or Buy to execute the transaction (Rate will hold for 30 seconds, you can

requote after expiry);

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Transactions – Flex Forward/Drawdown

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1. Click ‘Show Flex Forward List’ to bring up your current open forward contracts

2. Click the + symbol to expand all contracts available under the respective currency3. Click the underlined trade number to open up the forward contract

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Transactions – Flex Forward/Drawdown

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4. Enter the drawdown amount5. At this point, you can decide either to pay a beneficiary by selecting a specific beneficiary from the

dropdown menu OR send the funds to your AFEX Direct account by ticking the Funding trade box.6. Select the drawdown date by clicking on the calendar icon7. Input a remittance message (invoice) for the beneficiary8. Select the settlement method and account9. Click Cancel to discard or Submit the drawdown

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Transactions – Schedule payment

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1. Select currency to send2. Choose the beneficiary from the dropdown menu3. Enter the amount4. Select the value date by clicking on the calendar icon5. Enter the remittance information you want to send to the beneficiary (optional)6. Make a transaction note to yourself (optional)7. Clear to start over or Schedule payment to proceed

Scheduled payment is a disbursement of funds to a beneficiary from the funding balance. You can schedule payments and choose to fund at a later time.

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Transactions – Schedule payment

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8. Scheduled payments can be seen at the bottom of the page. Expand the currency in the selected scheduled payment

9. You can Edit or Delete any scheduled payments from the respective columns

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Transactions – Saved transactions

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1. Any transactions saved via the ‘Save’ button in any of the transaction screens, will be available to be viewed and continued under ‘Saved transactions’.

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Transactions – Rate order

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1. Select the buy currency2. Current Market Rate3. Target rate to achieve4. Enter the amount5. Select Expiration date on rate order6. Select the settlement method and account7. Make a transaction note to yourself (optional)8. Clear to start over or Submit rate order to proceed

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Transactions – Rate order

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9. Booked rate orders can be seen at the bottom of the page. Expand the currency in the selected rate order

10. You can Edit or Delete any rate orders in the respective columns

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Junior user – Get quote SPOT/Flex Forward

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1. Select the buy currency. 2. Select the sell currency 3. Enter the amount 4. Select the value date.5. Click Get quote. 6. The screen below will appear displaying your SPOT rate. If your rate time expires, select “requote”.

There is also an option to Save your quote.

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Junior user – Get Flex Forward quote

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1. Select the buy currency. 2. Select the sell currency.3. Enter the Amount.4. Select the start window by clicking on the calendar icon. 5. Select the end window by clicking on the calendar icon.6. To obtain a forward quote, select Get quote. 7. The below screen will appear displaying your flex forward quote and also an option to Save your

quote. Additionally, if the time time expires, select “requote” to obtain an updated quote.

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File upload

File upload is an AFEX processing solution which provides end to end payment processing in multi-currency amounts, saving you time and resources.

If you are interested or would like to know more about this payment solution, please contact your Account Executive.

Prepare payments in your system

Import confirmation file into your system

Export payment file

Fund & tradeUpload & schedule

payments

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Approvals

AFEXDirect can be customised to allow approval models based on the clients specific needs. The example below is the approval workflow.

‘Junior’ user books a payment on AFEXDirect and submits for approval. (Note: Juniors cannot see rates)

‘Senior’ user is notified by email and the prompt below will appear upon login.

‘Senior’ user double checks the payment booked by ‘Junior’ user and is given a rate at the time of approval.

Payment is approved and released. ‘Junior’ user will be notified of approval.

SeniorJunior Approve (release)

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1. You can select multiple Scheduled payments to approve by checking the box2. In the respective columns, you can update the value date or delete the selected transaction3. The following icons allow you to export into the given format4. With one selected, you can approve the Scheduled payment

If required to update value date, click the respective icon.5. Edit Scheduled payment dialog, allows you to review what has been booked by ‘Junior’ user6. By clicking on the calendar icon, you can update to required Value date7. Click Update to save changes or Cancel to cancel all changes

Approvals – Scheduled payments

Only clients with a workflow process in place will see the approvals tab.

From this screen, you can choose to edit payments, export into the given file types and select multiple payments to approve. Please note, this screen is ONLY for scheduled payments.

Note* if there are expired transactions, it will ask you to update the Value Date as required.

Once payments have been approved, the ‘Junior’ shall be notified via email, and you shall receive a confirmation number.

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1. You can view submitted drawdowns with all information2. The following icons allow you to export into the given format3. In the respective columns, you can update the value date, delete the selected transaction or approve

If required to update value date, click the respective icon4. Edit Forward Drawdown dialog, allows you to review what has been booked by ‘Junior’ user5. By clicking on the calendar icon, you can update to required Value date6. Click Update to save changes or Cancel to cancel all changes

Approvals – Drawdowns

From this screen, you can choose to edit payments, export into the given file types and select multiple payments to approve. Please note, this screen is ONLY for drawdowns from Flex Forwards. Note* if there are expired transactions, it will ask you to update the Value Date as required.


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1. You can select multiple submitted transactions to approve by checking the box2. In the respective columns, you can update the value date or delete the selected transaction3. The following icons allow you to export into the given format 4. With one selected, you can Get quote on submitted transaction

5. The Quick quote dialog displays a summary of the transaction to be submitted: • Trade Type: Cash, Spot or Forward • Buy currency and amount • Exchange rate • Settlement currency and amount • Total limit for the selected transaction type • Available limit for the selected transaction type

6. Select the settlement method and account;7. Click Cancel to discard or Buy to execute the transaction (Rate will hold for 30 seconds, you can

requote after expiry);

Approvals – Submitted transactions

From this screen, you can choose to edit payments, export into the given file types and select multiple payments to approve. Please note, this screen is ONLY for drawdowns from Flex Forwards. Note* if there are expired transactions, it will ask you to update the Value Date as required.


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Beneficiaries – Create a new beneficiary

Navigate to the beneficiary tab and click Create a new beneficiary. Wire = EFTDraft/Cheque = Paper

Step 1:

• Simply fill out all required fields. • This is determined via the red asterisk • If you don’t understand what is required for the field, simply click the blue question mark box next to the

description • NOTE: the blue is an assistance icon. Please click on this to define what is required in the field.

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Step 2:


description • By providing the bank SWIFT BIC or IBAN, details for the bank will be automatically generated if

recognised


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Step 3:


description • Please ensure you select a region from the dropdown, as inputting one will not allow you to submit • Once all details are entered, click Submit or, click Save incomplete template to continue later • If the details are correct, it will be automatically verified, if not, the beneficiary will be sent over to our

Operations team to verify


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Beneficiaries – Manage existing beneficiaries

1. You can search for a beneficiary from this bar2. Beneficiary status is shown here, with Approved ready to use, and Pending as awaiting Operations to

verify3. With the respective options, you can choose to Edit, Disable or Hide a selected beneficiary

• Edit – View existing beneficiary information • Disable – Remove the beneficiary from your list • Hide – Visually hide the beneficiary, to enable, please contact your Account Executive

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Beneficiaries – Manage incomplete beneficiaries

1. Review incomplete beneficiaries2. From the respective icons, you can Edit to complete the Incomplete beneficiary or Delete

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Beneficiaries – BIC Bank search

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Search for valid SWIFT BIC codes using this section. 1. Select the country (this is required)2. Enter the SWIFT BIC3. Click Search4. Once the SWIFT BIC search results are returned, you can click on the underlined SWIFT BIC code to

view additional information5. SWIFT BIC dialog, shows all relevant information regarding the searched SWIFT BIC

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Reports – Transactions

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1. In this reporting section, you will be able to view every transaction you have entered, between the selected dates

2. By clicking on the underlined Transaction no, you can view the confirmation and save as PDF3. This view is exportable to the following formats: XLS, CSV, PDF and TSV

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Reports – Funding balances

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In this reporting section, you will be able to view the activity of your selected currency between the selected dates1. Select the Currency2. Select the date window by clicking on the calendar icon3. Click Search4. This view is exportable to the following formats: XLS, CSV, and PDF

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Reports – Scheduled payments

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In this reporting section, you will be able to view every scheduled payment you have entered1. You can make it more specific by adding more information into the fields2. Click Search3. By clicking on the underlined Reference no, you can view the confirmation and save as PDF4. This view is exportable to the following formats: XLS, CSV, and PDF

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Reports – Settlement

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1. In this reporting section, you will be able to view incoming funds into your account between the selected dates

2. This view is exportable to the following formats: XLS, CSV, PDF and TSV

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Reports – Custom report

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In this Reporting section you’ll be able to run custom reports based on all the criteria listed above. Once done the report can be exported in the following format: CSV, Excel, PDF and XML.

1. Assign a name to the report 2. Select the date window by clicking on the calendar icon 3. Select the Transaction Number 4. Select the Authorized Trader who entered the transaction 5. Select the Format for the Report 6. Select the Buy Currency 7. Select the Sell Currency 8. Select the Transaction Type 9. Press Run report to get the report in the selected format

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Tools – Change password

• Update your AFEXDirect password in this section. • The password requirements are listed on the right hand side of the page.

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Tools – Manage currencies

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You can configure the currencies the account will be able to transact in.

If you’ve added a new beneficiary and can’t find it in the list, you will need to add their corresponding currency in this section.

1. Select the transaction type to enable/disable the currency for2. The ‘Available’ column lists all the currencies that are available for the specific transaction type3. The ‘Selected’ column lists all the currencies that are enabled for the specific transaction type4. Use the arrows to move the currencies from one column to the other

• Buy Flex Forward: Currencies to view in the Flex Forwards screen • Buy Forward: Currencies to view in the Spot/Forward screen • Buy Funding: Currencies to view in Funding • Buy Rate Order: Currencies to view in the Rate Order screen • Scheduled payment: Currencies to view in the Scheduled payment screen

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Tools – Manage rate display

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You can change how you wish to see the rates in the transaction screens.

1. Select the Buy currency;2. Select the settlement currency;3. Leave the box unchecked if you wish to view the rate for the selected currency pair per the market

convention or check the box to invert the rate.

Please note that the exchange rates listed in this screen are for demonstration purposes only and do not reflect the actual market.

The configuration set in this screen will affect all payment dialogs.

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Tools – Messages

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All the system messages are stored in this section.

Users under the same account can communicate with each other from here as well.

1. Click here to send a message to another user under the account2. Click here to delete a message

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Frequently asked questions

What is the difference between a SPOT payment and a scheduled payment?

A scheduled payment is a payment that has been scheduled to be sent from the client’s funding account (funding balance) where no rate of conversion is necessary, and no external funding of the deal is necessary.

For eg. Smith’s trading Pty Ltd has $500 USD on their AFEX balance. They would like to use their existing USD funds on their account to pay their suppliers in China. Smith’s trading will schedule a payment.

A SPOT payment is a conversion of funds from one currency to another in order to make a payment to a third party. External funding is necessary to execute a SPOT payment. For e.g Smith’s Trading Pty ltd has no USD Funds sitting on their AFEX Balance. They would like to both purchase currency and simultaneously send the funds out to their Chinese supplier. A payment confirmation will shortly be sent to Smith’s Trading Pty ltd detailing the settlement amount owed to AFEX.

How do I obtain my transaction confirmations?

1. Select the Reports > Transactions heading. 1. Search for the specific payment that you require a payment confirmation by using the search criteria’s listed and click

Search.2. Once the payment has appeared in which you want to obtain a confirmation for, select the transaction number underlined.3. A PDF format of your payment confirmation will appear.

How can I download payment/SWIFT confirmations from AFEXDirect?

1. Select the heading Reports > Transactions. 1. Search for the specific payment that you require a payment confirmation by using the search criteria’s listed and click

Search.2. Once the payment has appeared, your SWIFT confirmation number will appear under the “payment verification” column. 3. By clicking on the underlined SWIFT confirmation number, your SWIFT confirmation will appear.

What is the fastest way for me to get a quote?

1. Select Home. 2. Your balances in each currency that you have previously dealt will appear on the home screen with the currencies

respective national flag.3. Click on the currencies flag that you want to obtain a quote from and an “add funds” window will appear.1. Enter the amount in which you want to obtain a quote for and select Get quote.2. Your quote will then appear indicating the amount in the specific currency you have selected, the settlement amount,

settlement method and Quote will appear.1. If you would like to purchase this currency select Buy.

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Frequently asked questions (continued)

How can I view my funding balance activity?

1. Select the Reports > Funding Balance.2. Select the currency and adjust the time period which you want to obtain your funding balance activity and click search. Your

balance activity will now appear. 3. The option to export your funding balance activity to CSV, EXCEL, PDT, TSV on the bottom left hand corner of your report.

If I am receiving funds in a foreign currency, how do I repatriate these funds and send them back into my bank?

1. Check your balance in the specific currency you are receiving funds in on your home page to ensure that your funds have arrived.

2. Select the Transactions > Spot/Forward.3. Select in the buy field the currency in which you want to repatriate your funds into and in the sell field the currency which

you are receiving. 4. Enter the amount in which you want to repatriate.5. Select the bank account in which you want the funds to be sent to in the beneficiary field. Please ensure this beneficiary

has been added.6. Select the value date.7. Click Get quote.8. A window will appear with your rate. Please ensure that when paying AFEX you select “funding balance” from the

dropdown menu. 9. Select Buy. Your funds will now be converted and sent to your bank account.

Why doesn’t my beneficiary appear when I make a payment

All of your beneficiaries that you have previously dealt with via AFEX, whether it be through your account manager or online, will all appear in your AFEXDirect Account.

If your beneficiary does not appear when making a payment, it could be for the following reasons:

1. The beneficiary has not been created. If you need to create a beneficiary please refer to the “create a beneficiary” section on page 33 of the help guide.

2. Your beneficiary isn’t setup for the currency you are attempting to pay in.3. The beneficiary could be flagged by our compliance team.

Please contact your Account Manager for more information if you have used the beneficiary in the past but it does not appear in your beneficiaries list.

Why isn’t my login working?

Your login details might not be working for the following reasons:

1. Your Login details are incorrect.2. If your enter your login details incorrect 3 times, your account will be locked. If this occurs please contact

[email protected]

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Frequently asked questions (continued)

How do I reset my password?

1. If you have forgotten your password, select the Forgot password. Here you will be asked to enter your user name and your secret question. Shortly after you will receive an email with your login details and a temporary password.

2. In case you do not remember your secret question, please email [email protected] and our online team will assist you shortly.

How do I find my account number?

Your account number can be found on the top right hand corner of your payment confirmations (see Q2 for how to obtain your payment confirmations).

Who do I email when I need assistance?

Email [email protected] and our online specialists will assist you with your enquiries or issues.

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