Fequently Asked Questions

How do I Partner with Olympia Trust Foreign Exchange?

Opening an account and working with us is easy. The New Customer Forms are short and simple, contact one of our Foreign Currency Exchange Specialists to get you started.

Are there Any Fees Associated to Olympia Trust Company Foreign Exchange.

There are no fees for using Olympia Trust Company Foreign Exchange Services. Some transactions such as wires may have additional fees associated, however these will be clearly explained to you and will be at a fraction of the cost charged by other providers, allow us to show you hidden fees charged by your current provider.

Can Olympia Trust Company handle all of my foreign payables and receivables?

Yes. Simply let us know where your payments are coming from or need to be sent and we will handle the rest.

Are There Any Minimum Transaction Fees?

Yes. Olympia Trust minimums are currently $10,000 USD for corporations and $25,000 USD for individuals. Required minimums may be slightly higher for other currencies.

What currencies does Olympia Trust buy/sell?

Olympia Trust trades up to 140 major currencies with banking partnerships in North America and the UK.

Can Olympia Trust process my wire payments?

Yes, Olympia Trust Company is connected to the global SWIFT, allowing us to easily and effectively send funds around the world. Since we electronically store currency-exchanges of your wire payments it is always quick and easy to process these at any time.

Why do I have to provide ID when opening an account?

Olympia Trust Company fully complies with the policies and procedures governing against money laundering and terrorist financing in Canada, US and the UK. We require our KYC Forms to be completed and accompanied by government issued photo ID.

Is an Individual able to enter into a Forward Contract?

In order to enter into a Forward Contract with Olympia you must be a "Qualified Party" as such term is defined in British Columbia Securities Commission Blanket Order 91-501, Alberta Securities Commission Blanket Order 91-506, Saskatchewan Financial and Consumer Affairs Authority General Order 91-908, or the Manitoba Securities Commission Blanket Order 91-501, or, as applicable. As a trust company organized in accordance with the Loan and Trust Corporations Act (Alberta), Olympia is considered to be a "Qualified Party" under these orders. The most commonly used category of "Qualified Party" for an individual, is an individual who either alone or with their spouse, has net assets of at least $5 million excluding their principal residence and can provide proof with supporting financial documents.

If you are a resident of any other Province or Territory of Canada please contact Olympia and we will assist you in determining whether you can enter into a Forward Contract with Olympia.

If I am a corporation, partnership or trust, what criteria do I have to meet in order to enter into a Forward Contract with Olympia?

In order to enter into a Forward Contract with Olympia you must be a "Qualified Party" as such term is defined in British Columbia Securities Commission Blanket Order 91-501, Alberta Securities Commission Blanket Order 91-506, Saskatchewan Financial and Consumer Affairs Authority General Order 91-908, or the Manitoba Securities Commission Blanket Order 91-501, or, as applicable. As a trust company organized in accordance with the Loan and Trust Corporations Act (Alberta), Olympia is considered to be a "Qualified Party" under these orders. The most commonly used category of "Qualified Party" is a corporation, partnership or trust that has total assets of at least $25 million as shown on their most recently prepared annual financial statements." If you are a resident of any other Province or Territory of Canada please contact Olympia and we will assist you in determining whether you can enter into a Forward Contract with Olympia."