Unit of competency Outline

Date retreived
22/07/2026 5:01 AM AWST

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Handle foreign currency transactions

Handle foreign currency transactions

Unit of competency
National Code
FNSRTS302
State Code
AUS88
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081101 - Banking And Finance
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to provide customer service and handle foreign currency transactions, including buying and selling foreign currency travellers cheques, notes and coins within a retail banking environment.It applies to individuals who, within their level of responsibility, use clear communication skills to provide current and accurate information and follow organisational procedures to process transactions.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify nature of customer's foreign currency needs
  • 1.1 Clarify nature of foreign currency transaction with customer
  • 1.2 Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures
  • 1.3 Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions
2. Verify that proposed transaction can be conducted
  • 2.1 Identify cleared funds as available for requests to purchase foreign currency
  • 2.2 Assess stocks of currencies held on site and inform customer if their requests for foreign currency notes can be fulfilled or advise when currencies will be available
  • 2.3 Verify foreign currency notes presented for sale for authenticity according to organisational procedures
3. Conduct transaction
  • 3.1 Calculate conversion of foreign currency amounts using organisation's set procedures and tables or by accessing relevant databases
  • 3.2 Provide customer with copy of rates used to calculate currency conversion
  • 3.3 Witness customer’s signature, in accordance with policies and procedures, if travellers cheques are being purchased or sold
  • 3.4 Enter details of transaction into relevant database
4. Maintain accurate records of transaction
  • 4.1 Complete required vouchers and receipts in accordance with organisational procedures and obtain required signatures on relevant documentation
  • 4.2 Complete and file relevant reports in event of significant cash transactions, including relevant reports where transaction is considered a possible suspect transaction
  • 4.3 Update and maintain internal records of foreign currency transactions in accordance with organisational procedures
No information
No information
Replaces
State Code National Code Title Type
D9449 FNSRTS302A Handle foreign currency transactions Unit of competency
Replaced By
State Code National Code Title Type
OBR58 FNSRTS312 Execute foreign currency transactions Unit of competency