How to avoid delays when making large transactions.
Collections and Receipts
To avoid delays in the processing of credits that are in excess of 1M GBP or equivalent, we advise that you contact us on the day that the transaction is submitted. This should be done by emailing firstname.lastname@example.org, copying in your Customer Success Manager.
Similarly, if you know you are going to receive repeat, large credits for the same purpose and from the same source, please let us know so that we can conduct a preliminary review of the transactions and avoid delays.
Information that will help us to process the transaction(s) include:
- The full details of the credit(s) (destination account, currency, size, sender)
- Extended Due Diligence (EDD) information - sender, purpose, source of funds/wealth and any supporting documentation
- The expected flow once credited (FX, payment out, relationship between ultimate payer and ultimate beneficiary)
If you wish to extend your maximum trade limit for a large trade, please request a limit change via Currencycloud Direct.
If you are enabled for APAC trades (INR/IDR/PHP/MYR), we request that you contact us if you expect a daily volume over the value of 250,000 GBP. For all other currencies, we request that you notify us of any trades over the value of 1M GBP. You can contact us by emailing email@example.com.
We require a 3% margin on SPOT trades, and 5% on FORWARDs. Please make this margin available as soon as you are aware of a large FX trade.
If you intend to make an unusual payment that deviates from your usual pattern, or repeat large payments for the same purpose, please let us know by contacting firstname.lastname@example.org and copying in your Customer Success Manager. It is especially important that you notify us of any payments in excess of 1M GBP or equivalent if this is a new or unusual flow. We can then conduct a preliminary review and avoid delays.
When contacting us, please send us as much Extended Due Diligence (EDD) information as possible. This includes information about the beneficiary, purpose, source of funds/wealth and any supporting documentation. We will contact you if we need any further information.