Unit of competency Outline
Date retreived
23/07/2026 4:46 AM AWST
23/07/2026 4:46 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Handle foreign currency transactions
Handle foreign currency transactions
Unit of competency
National Code
FNSRTS302A
FNSRTS302A
State Code
D9449
D9449
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
21/02/2012
Field of Education
081101 - Banking And Finance
Original Release Date
21/02/2012
Nominal Hours
50
Description
This unit describes the performance outcomes, 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.
Notes
Elements and Performance Criteria
1. Identify nature of customer's foreign currency needs
- 1.1. The nature of the foreign currency transaction is clarified with the customer
- 1.2. Relevant information is obtained from the customer including verifying the identity of the person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures
- 1.3. Customer requests for foreign currency dealings are handled in accordance within the officer's authority to approve transactions
2. Verify that the proposed transaction can be conducted
- 2.1. Cleared funds are identified as available for requests to purchase foreign currency
- 2.2. Requests for foreign currency notes are assessed against current stock of currencies held with currencies not held on site ordered and the customer advised when they will be available
- 2.3. Foreign currency notes presented for sale are verified for authenticity according to organisational procedures
3. Conduct the transaction
- 3.1. Conversion of foreign currency amounts is calculated using the organisation's set procedures and tables or by accessing relevant databases
- 3.2. The customer is provided with a copy of the rates used to calculate the currency conversion
- 3.3. Where travellers cheques are being purchased or sold, the customer’s signature is witnessed in accordance with policies and procedures
- 3.4. Details of the transaction are entered into the relevant database
4. Maintain accurate records of transaction
- 4.1. Required vouchers and receipts are completed in accordance with organisation procedures and required signatures are obtained on relevant documentation
- 4.2. Relevant reports are completed and filed in the event of significant cash transactions including relevant reports where a transaction is considered a possible suspect transaction
- 4.3. Internal records of foreign currency transactions are updated and maintained in accordance with organisational procedures
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Foreign currency transactions may include:
conversion of Australian dollars to another currency
foreign notes and coins
international drafts
overseas bank cheques
telegraphic transfers
traveller’s cheques.
The customer may be:
a customer of another financial institution
a new customer
a resident or non-resident of Australia
an existing customer.
Relevant information to be collected may include:
bank account details
name, address and contact details
source of funds to cover transaction.
Cleared funds refers to:
cash
cheque from same institution
cleared funds within a bank account held at same institution.
Significant cash transactions are:
transactions involving currency (i.e. coin and paper money of Australia or of a foreign country) in excess of the equivalent of $10,000 or as determined by legislation.
Foreign currency transactions may include:
conversion of Australian dollars to another currency
foreign notes and coins
international drafts
overseas bank cheques
telegraphic transfers
traveller’s cheques.
The customer may be:
a customer of another financial institution
a new customer
a resident or non-resident of Australia
an existing customer.
Relevant information to be collected may include:
bank account details
name, address and contact details
source of funds to cover transaction.
Cleared funds refers to:
cash
cheque from same institution
cleared funds within a bank account held at same institution.
Significant cash transactions are:
transactions involving currency (i.e. coin and paper money of Australia or of a foreign country) in excess of the equivalent of $10,000 or as determined by legislation.
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
undertake a range of foreign currency transactions effectively and accurately, completing relevant checks, documentation and records
follow organisational procedures when conducting foreign currency transactions especially to ensure that unacceptable risks are not taken.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to foreign exchange rates systems and current information.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
accessing and validating third party reports.
Guidance information for assessment
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
undertake a range of foreign currency transactions effectively and accurately, completing relevant checks, documentation and records
follow organisational procedures when conducting foreign currency transactions especially to ensure that unacceptable risks are not taken.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to foreign exchange rates systems and current information.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS88 | FNSRTS302 | Handle foreign currency transactions | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D703 | FNS30311 | Certificate III in Accounts Administration | Qualification |
| D702 | FNS30111 | Certificate III in Financial Services | Qualification |