Frequently Asked Questions: Ritchie Bros. Financial Services Currency Exchange

Our partner financial institution offers a state-of-the-art electronic foreign exchange platform. You can easily and securely exchange your home currency at preferred rates. Simply sign in to your personal account on rbauction.com and link to the RBFS Currency Exchange portal.

Sign in in to your account on rbauction.com and click on ‘My Purchases' under the ‘My Account' tab at the top of the page. Click on the ‘Lock in your rate' button at the bottom of page, and follow the on-screen prompts. At the final step, print out the page or record the information provided – you will need this when making your payment via wire transfer with your preferred financial institution. You will also receive a confirmation email with this information.

No, this service is provided free of charge to our customers. However, wire transfer fees may apply.

We're sorry, we are only able to offer RBFS Currency Exchange to those who have created an account on rbauction.com at this time. You can create your account now by visiting rbauction.com/myaccount, and you'll be able to pay for future purchases using our RBFS Currency Exchange portal. In the meantime, please contact your bank with your invoice details and proceed to wire transfer funds in the currency of the auction using the wire payment instructions on the face of your auction invoice.

Our partner financial institution can provide preferred exchange rates that are generally better than retail bank rates. These competitive rates are applied to your auction payment, and allow you to make your payments in your home currency. Other benefits include:

• The currency exchange quote is valid for 48 hours (excluding weekends) from the time you commit the foreign exchange transaction on the portal, providing you with peace-of-mind against adverse currency price fluctuations. You must provide your bank with the payment instructions provided to you within 48 hours of receiving the quote on the RBFS Currency Exchange portal.
• The platform allows you to monitor your payments and notifies you when the payment is received.
• The transaction flows through in a fully secure traditional banking environment.
• Faster processing times and transfer to Ritchie Bros. Auctioneers, which will release your auction purchases upon receipt of your payment in the currency of the auction.

The Foreign Exchange market is dynamic and prices are changing continuously. To protect our customers from this volatility, our partner financial institution is able to offer protection for a period of 48 hours, excluding weekends. You must provide your bank with the payment instructions provided to you within 48 hours of receiving the quote on the RBFS Currency Exchange portal.

Any payment made more than 48 hours after the currency exchange quote is received may be returned. The quote validity expires after the 48 hour window, and we may not be able to process your payment. It could result in additional costs to the customer. For any questions regarding the transaction please feel free to contact Ritchie Bros. at +1(800) 211-3983 for US & Canada or +1(778) 331-5939 for customers outside US & Canada

Our partner's Foreign Exchange department trades approximately 30 different countries' currencies, however there are some currencies that are not supported due to banking regulations, sanctions or other reasons. To help clients in such cases, our partner provides the option to make the payments in US Dollars.

Yes. While we strongly recommend you make payments in your home currency, because of the preferred foreign exchange rates applied, you have a choice to make payments in US Dollars.

Please contact Ritchie Bros. immediately at +1(800) 211-3983 for US & Canada or  +1(778) 331-5959 for customers outside US & Canada and provide the information. Please ensure you have mentioned the following information in your communication:

• Ritchie Bros. Financial Services Currency Exchange Payment confirmation
• Bidder ID
• Invoice #
• Auction Name, Date
• Payment Amount

Sign in to your account on rbauction.com and link to the RBFS Currency Exchange Portal. Click on transactions to print your instruction sheet. Alternatively, please send an email to Ritchie Bros. at csg@rbauction.com requesting the same.

You will receive an email notification advising you of receipt of payment.

No, local bank charges are not covered under the quote provided by our partner financial institution. Please send the quoted amount in full, and pay any additional fees directly to your local bank.

Please contact Ritchie Bros. immediately +1(800) 211-3983. for US & Canada or +1(778) 331-5939 for customers outside US & Canada

We shall try and correct the information from our end. Please ensure you have mentioned the following information in your communication:

• (Product Name) Payment Item
• Bidder ID
• Invoice #
• Auction Name, Date
• Payment Amount

* CIBC is one of the largest financial institutions in Canada with a state-of-the-art electronic foreign exchange platform. CIBC was also named the strongest publicly traded bank in Canada – and the only North American bank in Bloomberg's ranking 5 years in a row (Bloomberg Markets, 2015) For more information please visit www.cibc.com