What is FEC in banking.

By : Growing Business
Published 28th March 2013 |
Read latest comment - 7th May 2013

Hi,
I want to know that what is FEC in banking field and what are the advantages of that?

angelajason06
Comments
Well Angela, I was going to say Google it, but then if you do, this thread appears near the top. As does another forum you have asked the same question

So to provide an answer, and make the thread useful...

Forward Exchange Contracts
Via our old friend Wikipedia...
Forward contract - Wikipedia, the free encyclopedia

Now what I want to know is, why do you want to know that? You ask a variety of questions and I'm intrigued to know what brought that one up?

Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

Well Angela, I was going to say Google it, but then if you do, this thread appears near the top. As does another forum you have asked the same...

Well recently i was touched to my bank because of problem with my wire transfer, Every one in my bank talking about FEC. I felt a Little shy to ask them what is it. Thats why i asked here.

angelajason06

Dang, way too early for all that mathematics......

Interesting topic though
How does everyone think that this would help with wire transfers?

Thanks,
Dreamraven

Every one in my bank talking about FEC. I felt a Little shy to ask them what is it. Thats why i asked here.

lol fair enough. It's a bit heavy for my non mathematical brain though

Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

lewiskelly has answered, here is the exact definition
Forward Exchange Contract Definition | Investopedia

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This is absolute Hebrew to me. Can't understand a word. Need to brush a little on basic banking knowledge or it could be troublesome for me in the future.

alicemenezes

Basic knowledge is important, both for you are as person and a business owner. Make yourself well informed about some terms such as interest rates, conversions, etc. and don`t let bank clerks play with your money

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