What is a Standard Settlement Instruction (SSI) and how do I set this up?
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A Standard Settlement Instruction (SSI) is an advance confirmation of where you would like funds to be credited upon completion of any future foreign exchange trades. These payment details will be used by default, unless Centtrip is otherwise informed at the point of deal execution.
By providing Centtrip with your SSI, we are able to send your payments more swiftly and efficiently.
If you have not provided either a SSI or alternative payment details at the point of deal execution, funds will automatically be credited to your Centtrip account. You can then make onward payement from there as you choose.
Please note - your SSI only relates to offline trades booked with our dealing desk; it does not affect currency purchased through your Centtrip account. In this case, you can select where to send currency at point of booking in the usual way.
To set up your SSI
Ensure the beneficiary has been set up as a recipient in your Centtrip account
Review the payment details for this recipient to ensure they are correct and up to date
Complete our Standard Settlement Instruction (SSI) Form to confirm your default recipient
Return your form to settlements@centtrip.com