Elements and Performance Criteria
- Identify nature of customer's foreign currency needs
- The nature of the foreign currency transaction is clarified with the customer
- Relevant information is obtained from the customer including verifying the identity of the person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures
- Customer requests for foreign currency dealings are handled in accordance within the officer's authority to approve transactions
- Verify that the proposed transaction can be conducted
- Cleared funds are identified as available for requests to purchase foreign currency
- Requests for foreign currency notes are assessed against current stock of currencies held with currencies not held on site ordered and the customer advised when they will be available
- Foreign currency notes presented for sale are verified for authenticity according to organisational procedures
- Conduct the transaction
- Conversion of foreign currency amounts is calculated using the organisation's set procedures and tables or by accessing relevant databases
- The customer is provided with a copy of the rates used to calculate the currency conversion
- Where travellers cheques are being purchased or sold, the customer’s signature is witnessed in accordance with policies and procedures
- Details of the transaction are entered into the relevant database
- Maintain accurate records of transaction
- Required vouchers and receipts are completed in accordance with organisation procedures and required signatures are obtained on relevant documentation
- Relevant reports are completed and filed in the event of significant cash transactions including relevant reports where a transaction is considered a possible suspect transaction
- Internal records of foreign currency transactions are updated and maintained in accordance with organisational procedures