From May 2020 your FX (foreign exchange) payments will need to be authorised individually and not as part of a group authorisation. We have made this change in response to European Commission regulation that aims to give customers additional information on the charges associated with these payments.
This change will apply to all customers making FX payments on iBB. This will include payments being made with a live FX rate, Dealer Rate and/or a Forward Contract.
When you select your FX payments from the ‘Authorisation’ screen you will now be brought to a final confirmation screen. This screen shows the rate applied and additional information about the estimated costs of your payment. From there, enter an OTC (One Time Code) as usual to authorise your payment.