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EURO SERVICES
OPG's euro service enables customers to handle euro transactions directly through their OPG sterling account or, if they choose, from a dedicated euro account. The OPG service provides all euro transaction functionality available from the UK banking system and has the following advantages.
- Removes the need to hold and manage euro balances and maintain separate euro accounts, unless customers choose to do so.
- A full euro payments and receipts service is available for transactions within the UK and extended to eurozone countries via euro CHAPS.
- A domestic euro BACS direct credit service is available for euro BACS payments within the UK along with euro cheque receipt facilities.
- OPG has engineered its euro service to minimise currency conversion costs by grouping all OPG customer transactions together.
- All OPG euro transactions share a single foreign currency conversion rate each day.
- All euro transactions can operate off sterling OPG customer accounts with the exception of euro Payable Orders, which must operate off a euro denominated account.
OPG can provide euro denominated accounts but an OPG euro account is just like any other foreign currency account and sits outside the Exchequer pyramid at the Bank of England. Unless there are very good reasons for doing so, customers are reminded that holding significant foreign currency and other balances outside the Exchequer is at odds with HM Treasury guidance.
The Euro forms below are available by e-mailing opgservices@xafinitypaymaster.com.
GS2/€ - Revocation of Euro Payable Order (used to stop euro denominated payable orders issued on a euro account).
GS3/€ - Euro Payable Order Enquiry (used to enquire if a euro denominated payable order is paid / unpaid).
GS12/€ - Euro Funding Transfer Request (used to make sterling to euro or euro to sterling funding transfers).
The above forms do not appear in the main Download section.
If you would like more information please contact the Account Adviser team at:
OPG Banking Services
Sutherland House, Russell Way, Crawley, West Sussex, RH10 1UH
Or telephone our Customer Communications Centre on:
0870 197 1404
or email us at:
opgservices@paymaster.co.uk
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