Articles on: How to...

8.04 ​How to… create a forward order

Introduction


Forward order is a quick and easy way to ensure that you buy your currency at your preferred exchange rate. You just select your currency, the rate you would like to buy it at, and the amount you want to buy. Then confirm your delivery preferences and payment source, and we'll start monitoring live rates for you and execute the order once the target rate is reached. We'll despatch your order on the next business day if it executes before 12noon on any business day – otherwise, we will despatch the following business day.

Step 1: Select a currency


Sign in and select “Forward order” from the “toolkit” menu. You can locate your currency by searching for the currency code, currency name or destination name. We will show you the native currency for each destination, and if we sell a Government-recommended alternate, we will show that too. Where we do not sell any currency for a destination, you should take US Dollars, as this is widely accepted for exchange in-country (pound sterling is much less widely accepted).

Tip! You can only have one Forward Order active at any time, and you won't be able to create an Instant Order while a Forward Order is active. You can always cancel the Forward Order so that you can create an Instant Order, and then start a new Forward Order once complete.



Step 2: Configure your target rate


Set the target exchange rate for your chosen currency. If you are not sure what's a realistic target, take a look at the rate tracker. You can set your forward order to expire up to 90 days in the future, and specify your requirement in GBP to spend or foreign currency to buy (when the usual rounding to the smallest available denomination will be made).

Tip! Forward Orders have the same spending rules as Instant Orders. So you can't start a new one the same day as the last order; you can only spend up to £2,500 in each order; and you can only spend £10,000 annually.



Step 3: Review your delivery options


We will deliver your order to your verified home address, with despatch on the next business day if the orders executes before 12noon any business day. Or the following business day if not. We will automatically use Royal Mail Special Delivery Weekday Guaranteed by 1pm.



Step 4: Select your payment source


Please enter the details of a payment card registered at your verified home address. We accept Visa Debit, Mastercard Debit, Electron and Maestro. We will only pre-authorise your card when you place the order – we do not take payment at this stage. We will only capture payment if and when the target rate is reached. If this takes more than a few days, the pre-authorisation will usually lapse, and you'll need to ensure you have sufficient available funds when the order does finally execute.

Tip! Please ensure that your card does not expire before the date you have configured your Forward Order to expire, or payment will automatically fail. If your card does expire before that date, you can cancel the Forward Order and create a new one with your replacement card.



Tip! You can make payment with any consumer debit card held in your name and registered at your verified home address.

Step 5: Confirm the order


You can review your Forward Order and go back to make any amendments you require before reviewing and accepting the terms and conditions and confirming your order. We will only pre-authorise payment at this stage – no funds will be taken from your card. However, those funds will be reserved until the pre-authorisation expires in 3-5 business days.



Step 6: Order execution


You can cancel a Forward Order at any time before it executes. You might need to do this if your payment card expires, or if you want to place an Instant Order.



When the target exchange rate for your Forward Order is reached, we will automatically execute the order. First, we will capture payment against the card you provided. If payment is declined, the Forward Order will be cancelled, and we will send you a notification. If payment is accepted, we will set the delivery date and confirm the order to you. You cannot cancel a Forward Order once it has executed, however if you contact us before 1pm on the business day before the order is due to be delivered, we might be able to change the delivery date as long as the order has not gone into despatch.

Use the support badge which appears bottom-right on the website or mobile app to chat with an agent from 9am-5pm Monday-Friday. You can also call us on 0203 950 0660 or send a message to help@travelmoneyclub.co.uk.​

Tip! To make sure you receive all our email messages without interruption, please add @travel-money-club.intercom-mail.com and @travelmoneyclub.co.uk to the trusted domains in your email software.​

Updated on: 27/04/2023

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