WHOLESALE TRADING

Digitalise and Automate Your Banknote Trading System

Buy and sell notes on a wholesale currency marketplace or process orders through a system with full audit trail.

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Discover New Wholesale Currency Suppliers and Buyers and Overhaul Your Banknote System

Whether you are a money services businesses looking to meet short term demand of currencies or a wholesale currency supplier, the wholesale trading module revolutionises the traditional method of placing an order for banknotes via phone or chat and introduces a streamlined electronic process for trading, processing and fulfilling banknote orders.

The Biz4x Marketplace is a foreign banknotes order management platform to buy and sell notes online that connects businesses such as money services businesses, wholesale banknote suppliers and other financial institutions.

As wholesale currency suppliers, financial institutions have a complicated and rigorous process when it comes to AML compliance. Once an order for banknotes has been placed and accepted, Biz4x’s technology can help onboard and provide ongoing monitoring of wholesale customers to adhere to Know Your Customer requirements. It digitalizes manual processes and provides a fully automated end-to-end information flow between front office transaction management, back office settlement and reporting.

Wholesale Trading is specially designed for:
Streamline Workflow
Digitalise and automate manual processes when it comes to banknote trading, order management, settlement and reporting.
Increase Efficiency
Reduce reliance on buying currency stock from a few known banknote dealers in a limited personal capacity through the phone or in private chat groups through an order management platform.
Increase Profits
Optimise your revenue by buying and selling banknotes through a connected network of banknote dealers.

Features

FEATURE #1
State Your Specifications for Foreign Banknotes in a Request for Quote (RFQ)

Determine the currency type, amount, denomination, condition, as well as payment and delivery terms in each foreign banknote trading order before posting an RFQ.

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FEATURE #2
Request for Multiple Foreign Banknotes through a Single RFQ

Conveniently request banknotes for sale within a single trade to save time. Trading partners and banknote dealers can opt for a partial or complete fulfillment of each trade request depending on the RFQ settings.

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FEATURE #3
Request a Specific Rate for Each Trade When You Buy or Sell Foreign Currency Notes

Set a fixed or optional rate for banknote values in each order. Banknote suppliers or purchasers can choose to adjust the rates within their quote if this option is enabled in the RFQ.

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FEATURE #4
Receive and Respond to Requests to Buy and Sell Notes Online in Real-Time

Seal a banknote exchange deal within minutes. View all active RFQs to buy or sell foreign currency notes in a streamlined dashboard that you can respond to instantly.

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FEATURE #5
Create Custom Banknote Trading Groups

Include partners or exclude competitors from the trades you wish to make, by setting up different groups of banknote dealers or wholesale currency suppliers.

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FEATURE #6
Opt For Local or International Trade with World Banknote Dealers

Keep your business local by choosing to trade only with banknote suppliers in the same country or go international by selling and buying currency stock beyond your business borders.

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FEATURE #7
Consolidate Incoming Banknote Orders through a Management Dashboard

Manage incoming orders for banknotes through a connected dashboard that will allow you to review and act upon orders with a predefined approval workflow for customer onboarding and order processing.

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FEATURE #8
Streamline End-to-End Transaction Management

Automate order management and processing with a digitalised workflow for front office transaction management to back office settlement and reporting.

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Frequently Asked Questions

What is the advantage of using the Biz4x Marketplace compared to usual banknote supplier contacts and networks on phone or chat?

While it is impossible to have perfect information when it comes to the buying and selling of banknotes in real life, the Biz4x Marketplace is designed to eliminate inefficiencies in the market by providing access to a larger network of banknote dealers, wholesale currency suppliers and wholesale banknotes businesses.
This will enable businesses to optimise their currency stock and profits by connecting them with more wholesale currency services and wholesale banknote dealers, so they can trade more efficiently with more contacts and options at their fingertips.
Do businesses know who they are trading with on the Biz4x Marketplace?

Businesses can request to buy and sell notes only with counterparties that share their contact details, or trade with anonymous counterparties as well. The Biz4x Marketplace provides both options so banknote dealers can trade in the manner of their choice, whether they prefer to share their identity or remain anonymous.
How does a business start to sell or buy banknotes for sale on the Biz4x Marketplace?

A prerequisite to buy or sell foreign currency notes on the online marketplace is to have a valid Biz4x Premium account and submit documents for a KYC check. Send a request to your account manager. Upon approval, the marketplace will be enabled for banknote trading and businesses can connect with banknote dealers, post a quotation or respond to one.
What is a request for quotation (RFQ)?

An RFQ is basically an order that will be listed on the Biz4x Marketplace that outlines a banknote trading requirements. It would include the type of currencies a business would like to buy or sell, the condition of the notes, the group or groups of banknote dealers a business would like to buy and sell notes to, the denomination, payment and settlement terms of the trade.
Does any payment for banknote trading take place directly through the Biz4x Marketplace?

No online payment takes place through the Biz4x Marketplace. Payment arrangements are specified in each RFQ.
How can businesses be sure that the banknote trading counterparties or banknote dealers will hold up their end of the deal?

All businesses that are engaging in banknote trading on the Biz4x marketplace will have to be licensed money services businesses, wholesaler currency suppliers or financial institutions that undertake to complete each confirmed deal to the best of their abilities. Banknote dealers who cancel on trades to sell or buy currency stock without a valid reason will be blacklisted and barred from using the Biz4x Marketplace.
Biz4x is used by businesses in more than 30 different countries across a number of industries

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