Note
This feature is currently only available for FIs who are currently using the Foreign Exchange International Wire Access feature or the Preferred Foreign Exchange Rates feature.
Q2 Corporate banking supports tiered rates for international wire exchange (also know as Foreign Exchange wire or FX wire) transfers. This feature allows FIs to set tiers for different foreign exchange rates using either batch or real-time integration. The FI provides files that contain the currency exchange rates for each tier (up to 10), or the FI has a real-time integration for each tier. With tiered FX Rates (batch), every FX batch wire initiated by an end user falls within a tier dollar range and is given that tier's FX rate.
An example of tier ranges could be the following:
-
Tier 1: $0.01 - $99.99
-
Tier 2: $100 - $999.99
-
Tier 3: $1000 - $9999.99
The exchange rate tier management feature allows FIs to view the current tier ranges and their last modified date, as well as edit the dollar amount of the tier max, provided the CSRs have the correct entitlements enabled in Q2 Console Administration. To view the required entitlements a CSR must have to view and edit exchange rate tiers, see the "Transactions" section of Rights for CSR roles in Q2 Console.
If a CSR has the appropriate entitlements, an Exchange rate tiers tab displays in the left navigation menu after selecting the Transactions tile in Q2 Console.
Selecting the Exchange rate tiers tab will open the Exchange rate tiers page.
The Exchange rate tiers page includes a table with the following columns:
-
Tier order—numerical list of tiers, sorted in descending order by default.
-
Tier name—text string that indicates the name of the tier.
-
Tier min (USD)—the minimum transaction amount processed at the associated tier rate.
-
Tier max (USD)—the maximum transaction amount processed at the associated tier rate.
-
Last modified date—the last date the associated tier was changed.
-
File upload date—the date the batch file was uploaded.
If the CSR has the right to edit the exchange rate tier management table, an edit icon displays in the top right corner of the page.
Select the edit icon to open the Edit exchange rate tiers modal window.
A CSR can edit the Tier max (USD) column by entering a new dollar amount. Dollar amounts must be entered using a 0.00 format. Entering a dollar amount incorrectly will result in a "Dollar format is invalid" error message displaying. Once a tier has been updated, select the Save changes option to finalize the changes. A successful confirmation message displays if the change action is successful.
Note
CSR users can only modify the dollar amounts indicated in the Tier max (USD) column. If a dollar amount in the Tier max (USD) column is modified, both the dollar amount in the Tier min (USD) column and the Last modified date are automatically updated.