Old news from Deutsche
For some reason, Deutsche forgot to send me the new press release it issued on July 8 announcing it had launched a new physical payment product called FX4Cash.
Normally, the rules of the WeeklyFiX are clear: once the whistle blows, the train goes. In other words, I try not to regurgitate news that has already been published.
But clearly, the FiX can’t afford to ignore major product news from a market leviathan like Deutsche. So I am backing into the story to bring you a fresh angle. For that reason, I asked Deutsche what the spreads and charges would be on FX4Cash.
The bank replied: “In terms of bid offer spread of the FX4Cash prices: Real time rates on FX4Cash are the same as abfx prices. Benchmark rates are whatever Reuters WM publishes. 24-hour fixed rates, the bid offer spread reflects the potential volatility of the currency pair for the 24-hours that the client has the price to trade. Fees are typical of what the cash management transaction fees are and they vary by clients, volumes and the product they use.”
“Are you considering a career in politics?” I asked.