Exchange operations are divided into two categories:

Exchange counter operations (one-step)

These operations are single-step and are mostly used when your exchange is a counter. This means having an exchange counter where the customer can go and have their exchange done in one step. Like the examples below:

• Buying currency from a customer: The customer gives you some foreign currency in cash and you pay her in local currency.
• Selling currency to a customer: The customer gives you some local currency in cash or by bank transfer, and you give them foreign currency in return.
• Currency conversion: The customer gives you some foreign currency in cash and you pay her another foreign currency in return.

Money transfer (remittance) operations (Three steps)

When a customer wants to transfer currency to someone or wants to buy or sell currency in person. Which is usually done in three steps.

• First step (agreement) This means we agree with the customer on the rate and fee.
• Second step (customer settlement) The customer pays the agreed currency or money.
• Third step (money changer settlement) The exchange office pays the currency requested by the customer.