Question 1

How does Centtrip safeguard my account?

Accepted Answer

How do I know my money is safe?

Centtrip Limited is authorised as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA) to issue e-money. Centtrip is required to safeguard funds received in exchange for e-money that has been issued. Depending on your region and the type of transaction, Adyen N.V. (Adyen) or Prepaid Financial Services Ltd (PFSL) will also be responsible for safeguarding your funds, ensuring compliance with applicable regulations.

Regulation 20 of the Electronic Money Regulations 2011 (EMRs);
Payment Services Regulations 2017 (PSRs); and
Chapter 10 of the FCA Approach Document.

How does Centtrip safeguard my money?

The safeguarding of your funds differs depending on whether you are based in the UK or the European Economic Area (EEA). Below is an outline of how your funds are protected.

For EEA-Based Customers:

For EEA-based customers, all funds are safeguarded by Adyen, a regulated bank licensed by the European Central Bank and supervised by the Dutch Central Bank. Adyen will issue you with a Centtrip Prepaid Mastercard® Card and administer your business account agreement, where applicable. As a licensed bank, Adyen ensures that all funds are safeguarded in line with European regulations. These funds are kept separate from Adyen’s operational funds and held in a dedicated Customer Funds Account. In the event of Adyen’s insolvency, your funds will be protected from claims made by any of Adyen’s creditors. Adyen’s registered office is Simon Carmiggeltstraat 650, 1011 DJ, Amsterdam, The Netherlands.

For UK-Based Customers:

For most UK-based customers, the funds held in your account are issued as e-money by Centtrip and safeguarded by Centtrip. Any balance held on your Centtrip Prepaid Mastercard® Card is safeguarded by PFSL. PFSL is the entity that issues your Centtrip Prepaid Mastercard® Card pursuant to a licence from Mastercard International Incorporated. PFSL is regulated and authorised by the FCA as an EMI, registration number 900036. As a regulated EMI, PFSL ensures that relevant funds are segregated from their operational funds and held in a Customer Funds Account, in accordance with the safeguarding requirements of the Electronic Money Regulations 2011. In the event that PFSL became insolvent, your funds will be protected from claims made by any of PFSL’s creditors. PFSL’s registered office is 4th Floor, 35 Great St Helen’s, London, EC3A 6AP.

In some cases, UK-based customers will have all funds safeguarded by Adyen. We will inform you if this applies to your account.

Centtrip’s Safeguarding Process for UK-Based Customers:

For e-money issued by Centtrip, we use the segregation method of safeguarding. This means that funds received for e-money are segregated immediately upon receipt and held in safeguarding accounts with our banking partner, Banking Circle. These funds are held separately from Centtrip’s own operational funds and working capital. Centtrip does not maintain a safeguarding account for each individual customer. Instead, Centtrip holds pooled accounts in the name of ‘Centtrip Client Money Accounts’ for each currency in which e-money is issued. Centtrip also performs ongoing reconciliations of its safeguarding accounts throughout the working day.

Additional Safeguarding Protections:

Centtrip’s banking partners have all been requested to provide a warranty that the safeguarded funds will not be used to satisfy or offset any other obligation, including those imposed on Centtrip itself. Centtrip’s banking partners and card providers are authorised within either the UK or the EEA, providing further protection and regulatory oversight.

Which types of transaction are safeguarded?

Under the EMRs, safeguarding applies to what are described as 'Relevant Funds'. These are defined as sums received ‘in the form of payment by a payment instrument, and only have to be safeguarded when they are credited to the EMI’s payment account or are otherwise made available to the EMI, subject to the requirement that they are safeguarded by the end of five business days after the date on which the e-money has been issued.’

Centtrip’s own funds must be held in separate bank accounts, as these monies are not safeguarded. The same principle applies to Adyen and PFSL, where Relevant

Funds are kept separate from their operational accounts.

When does safeguarding apply and for how long?

Safeguarding begins immediately once ‘Relevant Funds’ have been credited to Centtrip’s payment account or otherwise made available to Centtrip. Centtrip is then required to safeguard these funds until the moment a payment instruction has been given to our payment service provider, and the funds have been removed from our safeguarding account. At that point, the funds are no longer under Centtrip’s control.

For funds safeguarded by Adyen or PFSL, the same principles apply. Safeguarding starts as soon as funds are received and continues until the funds are removed from the respective safeguarding accounts following a payment instruction.

Can I have confidence in Centtrip’s safeguarding processes?

Centtrip conducts an annual audit of its compliance with the regulatory safeguarding requirements. This audit is performed by external auditors to confirm that Centtrip:

has up-to-date documented safeguarding systems and controls;
holds records that demonstrate and explain the rationale behind its safeguarding decisions; and
fully discharges its safeguarding obligations as prescribed by the relevant legislation.

Question 2

How do I use my virtual EEA card for payments?

Accepted Answer

Virtual EEA cards can be used for online payments and contactless transactions, by adding them to your Apple or Google Pay wallet (this feature is currently unavailable for US cards).

Contactless Transactions:

(EEA cards only)

To make an contactless payment, you simply need to add your virtual EEA Centtrip card to your Apple or Google Pay Wallet.

Online Payments:

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You can make an online transaction with your card in the same way as you would with a physical card. You can view your card details within the Centtrip app.

Sign into the Centtrip app, OR (if you are a new user) follow the steps in your activation email to create a password. Then, tap ‘All Cards’ on the app homepage.
Locate your virtual card within the list, tap to select it, then press to open ‘Card Settings’.
Swipe left on the top part of the screen to view the card.
Tap 'SHOW FULL CARD DETAILS'and verify your identity.

The card details will now be revealed, including the CVV.

Tap the ‘Copy Card Number’ button to copy the number and use for your online purchase.

Please note - virtual cards are currently only available for US or EEA Centtrip account holders.

Question 3

What are virtual cards and how do I use them?

Accepted Answer

A virtual card is exactly like a standard Centtrip card, except that it doesn’t exist physically. Instead, it is accessed by cardholders digitally within the Centtrip app, and can be managed by Administrators with their desktop account.

Please note - virtual cards are currently only available for EEA and US Centtrip account holders.

Benefit from:

Instant card creation - no more waiting for physical cards to arrive.
Effortless set-up - virtual cards are automatically activated upon creation.
Contactless spend on EEA cards - add virtual EEA cards to your Apple or Google Pay wallet.
Increased security - eliminate the risk of physical cards becoming lost or stolen.

How do I order virtual cards?

Simply follow the standard card order process, and use the dropdown box to select 'Virtual' as the card type.

Please note that when you select this option, EVERY card in that particular order will be a virtual card. If you wish to also order physical cards, you will need to place a separate order.

Once ordered, the cards will appear in your CARDS dashboard immediately.

New cardholders will receive an email inviting them to create an account password and sign into the app, where they can view and begin using their new card.
Existing cardholders will be able to view the new virtual card in the app, alongside any existing cards they have.

Cards are activated upon creation, so no separate cardholder activation is required.

How are virtual cards used?

For Contactless Transactions:

(EEA cards only - Google/Apple Pay is currently unavailable for US cards)

To make a contactless payment, you simply need to add your virtual Centtrip card to your Apple or Google Pay Wallet.

For Online Payments:

You can make an online transaction with your card in the same way as you would with a physical card. You can view your card details within the Centtrip app.

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Sign into the Centtrip app, OR (if you are a new user) follow the steps in your activation email to create a password. Then, tap ‘All Cards’ on the app homepage.
Locate your virtual card within the list, tap to select it, then press to open ‘Card Settings’.
Swipe left on the top of the screen to view the card.
Tap 'SHOW FULL CARD DETAILS'and verify your identity.

The card details will now be revealed, including the CVV.

Tap the ‘Copy Card Number’ button to copy the number and use for your online purchase.

Please note - virtual cards are currently only available for US and EEA Centtrip account holders.

Question 4

How do I integrate my Centtrip account with Xero?

Accepted Answer

Integrate your Centtrip account with Xero and automatically sync Centtrip account and/or card transaction data into Xero. No back-and-forth between systems, no manual exports or re-keying.

You can set up your Xero integration directly within your account, without the need for any technical support or development work from your team. (Contact us to discuss integration with other accounting or ERP solutions)

2 Quick Steps

Q: How can I check my card limits?

Our standard card limits are available here . Please contact your Administrator for specific information about your card limits and permissions.

1. Connect Your Xero Account

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Sign into your Centtrip account and click Manage Expenses. Then choose INTEGRATIONS.
Select Xero as your accounting package, press Next, then Connect Now.

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A new window will open - sign into your Xero account and select the Xero organisation you wish to connect your Centtrip account to.
Scroll down to Allow access. The Xero window will close, and your Xero and Centtrip accounts will now be connected.

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Finally, within the Integrations screen of your Centtrip account, select the Xero organisation where you would like transaction data to be synced to, and click Continue.

2. Map Your Data

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Click the button: ***Create your first feed2. Select the first card or account you wish to connect, followed by the card/account currency.
Select a Xero account for the data to be synced to, or create a new one. This account name must be unique for each individual feed. For example: Captain EUR Card - Yacht A
Leave 'Type' as 'Statement' (other formats to follow) and press the yellow +Add button to save the feed.
Continue to add any other cards and/or currencies in the same way. Note, you will need to set up an individual feed for each currency you wish to be mapped.

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Once complete, click Next.
Choose either a past or future date to transfer records from.
Select Create Feed to finish. (Note - feeds may take a few moments to process)
Once set up, transactions will be sent to your Xero account on a daily basis.

If you aren't seeing all the accounts/feeds you expect to see, try refreshing your browser. It can sometimes take up to 30 seconds for all connections to be set up.

See also -How do I change the Xero organisation that my Centtrip account is connected to?

Question 5

Can administrators activate cards on behalf of cardholders?

Accepted Answer

Super Administrator can prepare cards in advance and avoid any last-minute rush or queries, by activating cards on behalf of cardholders, within their desktop account. When ready, Cardholders can view their PIN securely within the Centtrip app.

Please note - only Super Administrators can activate cards on behalf of cardholders.

Question 6

Where can I find out more about Centtrip's bank detail changes on 19th January 2024?

Accepted Answer

The details you use to load funds to your Centtrip account, or to settle FX conversions via bank transfer, were updated in January 2024.

It is extremely important that you use our updated bank account details.

FUNDS SENT TO THE OLD BARCLAYS DUBLIN BANK ACCOUNTS WILL NOT BE AUTOMATICALLY RETURNED.

Important Notes -

PCSIL (our former card issuing partner) is now in insolvent liquidation.
Any funds received into these accounts will be held by the administrators and the sender will need to contact Interpath (the appointed liquidators) directly, or apply to the High Court. Read more here.
Centtrip do not receive and have no further control over any payments sent into the old accounts. We cannot return these funds to you.

How to find the correct account details

Sign in to your Centtrip account, visit 'Load Account', and select a currency. For FX settlements, the details will be provided in your on-screen and email confirmation.

Please also remember to:

Update previously saved details - you may have our old payment details saved in your bank account.
Inform 3rd Party Payees - if you receive funds from an Approved Third Party (ATP), please inform them of the changes.

Additional FAQs:

Question 7

How can I check my card limits?

Accepted Answer

Our standard card limits are available here.

Please contact your Administrator for specific information about your card limits and permissions.

Question 8

Where can I find out what my card withdrawal limit is?

Accepted Answer

Our standard card withdrawal limit is a maximum of up to 3 withdrawals per day, totaling £750.

Please speak to your administrator to request or find out if you have increased limits.

Question 9

How do I submit my card expense receipts, labels and notes?

Accepted Answer

You can attach photo receipts, labels and transaction notes instantly, as and when you spend via the Centtrip app.

Submit individual expenses within the app -

Before you begin, ensure you have activated your card and signed into the app.

Watch 2-minute video -

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Submit weekly or monthly expenses via your desktop -

Visit account.centtrip.com from your tablet or desktop computer, and sign in with the same details you use to access the app.

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Click to expand the filters and select 'without receipts' to view outstanding expenses. Then 'Update'

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Work through the list by clicking on an expense to open the details panel. You can then attach a receipt, select corporate labels and add your own labels and notes.

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Vist the 'CASH' page from the left-hand menu, then 'Add transaction' to record expenditure using funds from a cash-top up or ATM withdrawal.

Question 10

How do I add payment recipients to my account in batch?

Accepted Answer

Save time when adding multiple payment recipients to your Centtrip account. Our batch upload feature enables you to add hundreds of recipients in just one click, removing the need to create and verify each one individually.

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After signing into your account, visit the Recipients tab and click 'UPLOAD RECIPIENTS'.
Scroll down and click either 'EXCEL TEMPLATE' or 'CSV TEMPLATE' to download the 'RecipientUploadTemplate’.
Complete all relevant fields of the template for each recipient.
Save your file and visit the same 'UPLOAD RECIPIENTS' page of your account (step 1).
Follow the steps under 'Verify as Trusted Payee' to verify using either an App or email generated code.
Click 'PICK A FILE...' and select your saved recipient template to upload it.
Once processed, you will receive an on-screen notification confirming the number of successful/unsuccessful beneficiary uploads. Press 'OK' to view the details.
Download the file provided - this will contain any unsuccessful recipients, along with the error reason. Example below:

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Hints and tips

You only need to re-upload the unsuccessful recipients, all others will have been processed successfully.
'Verify as Trusted Payee' - when entering the first 4 digits of the new recipient’s Account Number or IBAN, please use the details of the first recipient in the batch.
The ‘Override’ field of the template can be used to update the details of an existing beneficiary; enter ‘Y’ into the row and the recipient (with the same nickname) will be updated accordingly.