FOREX Buying/Selling for local credit:
- 1 What products does PETNET, Inc.’s Foreign Exchange Department offer?
- 2 How do we settle the trade?
- 3 What are the regular trading hours?
- 4 What is the maximum amount per transaction?
- 5 How can PETNET Forex provide competitive rates for dollar buyers?
- 6 How can PETNET Forex provide competitive rates for dollar sellers?
- 7 How can I become a client of PETNET Forex?
- 8 Who do I contact for further questions and information?
- 9 Can forward trading be done?
BUYING and SELLING of US Dollar Currency against Philippine Peso Currency.
We settle trades through the following bank-to- bank transactions:
a. Direct debit/credit of account
b. Fund transfer via RTGS (Real Time Gross Settlement) and PDDTS (Philippine Domestic Dollar Transfer System)
c. On-us cheque payment
9AM - 4PM
PETNET, Inc. can do a maximum of $5M per transaction.
PETNET Forex's dollars are internally sourced due to our money transfer business. The natural inflow of millions of dollars daily (large supply) allows us to quote competitive selling rates.
PETNET Forex’s large corporate end-user portfolio (wide market) enables us to quote competitive buying rates.
PETNET Forex applies the “Know Your Counter-party” (KYC) principle, requiring the submission of constitutional documents and other related forms.
Please do not hesitate to contact any of our Traders at (02) 8817-8868 or (02) 7217- 8711 for inquiries.
PETNET Forex ONLY allows value today, and tomorrow
PETNET Forex Global Payments
- 1 What is PETNET Forex Global Payments?
- 2 How do we process a trading transaction?
- 3 How is settlement done after trading?
- 4 What banks can we settle payments?
- 5 What is the minimum and maximum amount per transaction?
- 6 How can one become a client of PETNET Forex Global Payments?
PETNET Forex Global Payments offers Accurate, Convenient, and Easy (ACE) ways to process international payments through:
•Straight conversion of peso to over 130+ currencies
•Competitive exchange rates
•Lower service/cable fee
o SHARED FEE
o REMIT IN FULL / OURS
•Documentation Trail – Order Summary Receipt,
Payment Transmission Confirmation
•Multiple Settlement banks
•24/7 online trading platform
a.STEP1: Client has the option to use the Online Trading System Or call PETNET Forex Global Payments to book a deal. An order Receipt will be sent via email.
b.STEP2: Client will settle payment with PETNET Forex Global Payments who in turn will deliver payment to beneficiary bank
c.STEP3: An automated email notification will be sent to the client, advising that the payment has been initiated.
Settlement is through bank to bank transactions such as credit of account or through fund transfer via RTGS (Real Time Gross Settlement) or on-us cheque payment.
ASIA UNITED BANK
BANK OF COMMERCE
BANK OF THE PHILIPPINE ISLANDS
BANCO DE ORO
Maximum amount per transaction is $2,500,000 and NO minimum amount.
PETNET Forex Global Payments applies the “know your counterpart principle”' (KYC) thus, we require submission of photocopied company registration documents and completed and signed application form.