Is it permissible to exchange local currency for foreign currency via a bank agent who transfers the money directly to the foreign seller without it being physically received?

It is permissible to convert national currency into foreign currency through the bank if the exchange (qabḍ) takes place in the session of the contract, whether by taking possession of the money itself, a check, or a transfer slip. The bank is allowed to charge a commission for the conversion. Therefore, there is no objection to transferring funds in the manner described, and possession of the documents proving the transfer is sufficient; a mere verbal notification by phone is not enough.