Question 1

Can I receive Third Party Payments (TPPs) to my Centtrip account?

Accepted Answer

All payments sent to your Centtrip account must be from a specified account in the same name as the Centtrip account holder, unless you have received prior approval for a third party payment. (This is stated during account application.)

Third party payments sent without prior approval will be returned to the sender.

It can take between 3 and 15 working days for the payment to be returned once initiated by Centtrip (subject to the currency and banks involved). A fee of £20.00 or more may be charged by the intermediary bank(s) and deducted from the amount returned to the sender.

How do I request third party payment approval?

Complete the ATP Application Form for the third party account you wish to receive payment from.
Return your form, along with supporting documentation to Centtrip Compliance or your Account Manager.
Await confirmation from Centtrip before proceeding with payment.

If approved, the sender will be set up as an Approved Third Party (ATP) in our system and will be able to send payments to your specified Centtrip account. Please ensure your CENT number is included as a payment reference, to avoid delays. This can be found in the Load Account section of your Centtrip account.

Please note - submitting your application will assist us in carrying out the necessary due diligence in accordance with our regulatory and legal requirements. However, all applications are considered on case-by-case basis and Centtrip has the right to reject an application, in line with our standard Terms and Conditions. For the purposes of completing the due diligence, you may be asked for further documentation and/information.

Do I need to request approval for each payment?

You must complete the form for each third party sender you wish to recieve funds from.

However, a payment may still be returned if it falls outside of the pre-approved limits.

Question 2

Where can I find out more about Centtrip's GBP payment detail changes?

Accepted Answer

In Febuary 2023, we updated the payment details which you use to:

Transfer GBP funds to your Centtrip account (ie load your account), and/or;
Settle a 'Bank To' foreign exchange conversion in GBP

How do I access the new payment details?

For GBP account loads:

Sign into your Centtrip account
Click Load Account within the navigation bar
Select GBP as your load currency - the correct bank details will be shown on-screen.

For settling a 'Bank-To' FX trade in GBP:

The correct details will be provided on-screen at point of booking your 'Bank To' trade, and in your email confirmation.

Are the payment details for other currencies affected?

No. This change only affects the payment details for GBP account loads / FX settlements.

What happens if I use the old details in error?

If you make a transfer using the old details, the funds will be rejected and returned to your corporate bank account.

What if I receive a warning message from my bank when sending a payment to the new account?

UK banks may show a warning when you make a payment to the new account for the first time due to the Confirmation of Payee fraud prevention tool. Please double-check that the details you've entered match those provided in the Centtrip platform exactly before confirming the payment.

Question 3

Where can I find out more about Centtrip's GBP payment detail changes for UK clients?

Accepted Answer

As of 13th February 2023, if you have a UK corporate address, we have updated the payment details which you use to:

Transfer GBP funds to your Centtrip account (ie load your account), and/or;
Settle a 'Bank To' foreign exchange conversion in GBP

How do I access the new payment details?

For GBP account loads:

Sign into your Centtrip account
Click Load Account within the navigation bar
Select GBP as your load currency - the correct bank details will be shown on-screen.

For settling a 'Bank-To' FX trade in GBP:

The correct details will be provided on-screen at point of booking your 'Bank To' trade, and in your email confirmation.

Are the payment details for other currencies affected?

No. This change only affects the payment details for GBP account loads / FX settlements.

What happens if I use the old details in error?

If you make a transfer using the old details after 13th February 2023, the funds may be rejected and returned to your corporate bank account.

What if I receive a warning message from my bank when sending a payment to the new account?

UK banks may show a warning when you make a payment to the new account for the first time due to the Confirmation of Payee fraud prevention tool. Please double-check that the details you've entered match those provided in the Centtrip platform exactly before confirming the payment.

Question 4

Where can I find out more about Centtrip's GBP payment detail changes?

Accepted Answer

As of 17th January 2023, if you have a non-UK corporate address, we have updated the payment details which you use to:

Transfer GBP funds to your Centtrip account (ie load your account), and/or;
Settle a 'Bank To' foreign exchange conversion in GBP

How do I access the new payment details?

For GBP account loads:

Sign into your Centtrip account
Click Load Account within the navigation bar
Select GBP as your load currency - the correct bank details will be shown on-screen.

For settling a 'Bank-To' FX trade in GBP:

The correct details will be provided on-screen at point of booking your 'Bank To' trade, and in your email confirmation.

Are the payment details for other currencies affected?

No. This change only affects the payment details for GBP account loads / FX settlements.

What happens if I use the old details in error?

If you make a transfer using the old details after 30 January 2023, the funds may be rejected and returned to your corporate bank account.

What if I receive a warning message from my bank when sending a payment to the new account?

UK banks may show a warning when you make a payment to the new account for the first time due to the Confirmation of Payee fraud prevention tool. Please double-check that the details you've entered match those provided in the Centtrip platform exactly before confirming the payment.

Question 5

How do I load or unload my Centtrip cards in batch?

Accepted Answer

Save time by loading (or unloading) multiple cards in batch. You can load different currencies to the same card, or unload cards, all in the same batch. There are two ways to do this:

Create a batch transfer within your account, or;
Complete and upload our batch template (note - this feature may need to be enabled for your account)

Method 1 - Create a batch transfer within your account

Watch 2-minute video:

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/SP7vclLu5H/resources/LtDdIiGudW/Untitled%20design%20%2825%29.png (Untitled design (25))

Method 2 - Complete and upload a batch template

Get a quick walkthrough:

Sign into your account and then click here to get a quick tutorial. Note: you must be signed in first.

Follow these steps:

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/SP7vclLu5H/resources/oHwAf5gX19/Batch%20Load.png (Batch Load.png)

Sign in, visit the 'Load Card' tab and click 'UPLOAD BATCH'. Contact us if you cannot see this option.
Download either the XLS or CSV template provided on-screen and input details of the currencies and cards you want to load/unload:

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/SP7vclLu5H/resources/2LDOsLjpOn/Screenshot%202021-08-19%20at%2010.15.32.png (Screenshot 2021-08-19 at 10.15.32.png)

Currency – use the dropdown to select the the three-letter code of the currency you would like to transfer.
Direction – select whether to transfer funds to or from the card (back into the account).
Cardholder - enter the cardholder ID (CHID). Don't know the CHIDs? Run this report.
Amount - enter the value you want to load/unload for that currency.
If you want to load multiple currencies for the same card, please enter each currency onto an individual row.

Revisit the same 'UPLOAD BATCH' page of your Centtrip account, click 'CHOOSE A FILE...' and upload your saved template.
You will receive an email confirmation once your file has been processed (this can take up to 30 minutes).
Review the confirmation summary - any loads marked as 'Failed' will need to be reviewed, corrected and re-uploaded. All others have been successfully processed, so please do not re-upload these.

Why have some of my loads failed?

The most common reason for a failed card load is an incorrect Cardholder ID (CHID) in your submitted template. This may be a simple typo, but can also often occur if a card has been replaced and the old CHID has been entered. Please run this report to check the CHID, update your template and resubmit the failed row(s).

Question 6

Why are the bank details for loading my Centtrip account not in my name?

Accepted Answer

Your Centtrip account is not a bank account; Centtrip Limited is an Electronic Money Institution authorised and regulated by the Financial Conduct Authority.

We use multiple banking and other financial institution partners to hold client funds in secure, segregated currency accounts - the details you see on-screen are for these accounts.

So to fund your account, please use the full payment details provided under "Load Account" for your selected currency. To avoid delays, be sure to always quote your reference number (starting CENT), and ensure payment is from an account in the same name as your Centtrip account, or an Approved Third Party.

Once we receive your funds, they will be credited to your Centtrip account.

Question 7

What currencies can I manage with my Centtrip account?

Accepted Answer

You can hold and manage 15 currencies on your Centtrip account and cards.

Payments can also be made in a further 16 currencies, by converting funds from the Buy Currency tab of your account, and selecting the external bank account for onward payment. Please see below for more details on how currencies can be held and managed.

Adding currencies to your account

You can add currencies not currently shown in your Centtrip account dashboard by clicking 'Add Currencies':

Question 8

How do UK public holidays affect my Centtrip service?

Accepted Answer

Centtrip will be closed on the following UK bank holiday dates.

You can still access your Centtrip account online and via the app as normal, however, account load, foreign exchange and payments will not be available. If you have any associated deadlines, we recommend making arrangements at least 2 full working days before the public holiday.

For example, if the holiday is on a Friday, it's best to load your account, send payment or purchase currency by the end of Tuesday.

If you would like assistance with your foreign exchange, please contact our currency experts on +44 (0)20 3735 1735 or email dealingdesk@centtrip.com.

Question 9

Why did Centtrip’s bank details change and how does this affect me?

Accepted Answer

The payment details used to load funds to your Centtrip account were updated on 17th December 2020.

Please ensure you use the correct details:

Loading your account: please use the new details when making a transfer to your Centtrip account. These are available via the Load Account page.
Booking an FX trade: the details you use for foreign exchange trades have not changed, so please continue to use the same details. These will be provided when you book a trade through Centtrip.

How do I access the new bank details?

You can access them securely from within your account. Simply sign in, visit Load Account and select a currency to view the correct bank details.

What happens if I load my account using the old details in error?

If you make a transfer using the old details after 31st December 2020, the funds will be rejected and returned to your corporate bank account. You will need to make the transfer again using the new details.

What if I receive a warning message from my bank when sending a payment to the new account?

UK banks may show a warning when you make a payment to the new account for the first time due to the Confirmation of Payee fraud prevention tool. Please double-check that the details you've entered match those provided in the Centtrip platform exactly before confirming the payment.

Why did the details used to load my account change?

We worked with our prepaid card issuer, Prepaid Financial Services (PFS) to ensure that your service was not disrupted at the end of the Brexit transition phase. You receive the same regulated payments services, but this is now provided through their affiliated company, PFS Card Services Ireland Limited (PCSIL).