Q: Why is my quoted exchange rate lower than expected?

Payments are subject to our standard payment fees , which will be automatically debited from your Centtrip account balance. When converting currency for onward payment, if your account does not hold sufficient funds to cover both the cost of your currency and the payment fee, the fee will be incorporated into your quoted exchange rate. This will make the rate appear lower. You can check your payment fees in your account Fee Schedule . To avoid the fee being included in your future conversion rate quotes, please ensure your account holds sufficient funds to cover it.

Q: What is a 'Bank-To' foreign exchange trade?

A Bank To foreign exchange trade is where you have booked a currency conversion within your Centtrip account, and chosen to pay using funds from your corporate bank account, rather than your Centtrip account. This will require you to make a transfer from your corporate account, to the details provided (shown on-screen and in your confirmation email) by the specified date.

Question 1

Why is my quoted exchange rate lower than expected?

Accepted Answer

Payments are subject to our standard payment fees, which will be automatically debited from your Centtrip account balance.

When converting currency for onward payment, if your account does not hold sufficient funds to cover both the cost of your currency and the payment fee, the fee will be incorporated into your quoted exchange rate. This will make the rate appear lower.

You can check your payment fees in your account Fee Schedule.

To avoid the fee being included in your future conversion rate quotes, please ensure your account holds sufficient funds to cover it.

Question 2

What is a Market Order and how do I set one up?

Accepted Answer

Take advantage of exchange rate fluctuations by setting a target rate and letting Centtrip watch the market for you. If the market reaches your target rate, we will automatically execute the buying or selling of your specified currency, day or night. So you don't have to worry about missing an FX opportunity.

Types of Market Order

1) Take Profit

A Take Profit Order enables you to take advantage of favorable market movements. Choose a target rate better than the current market level. If the market reaches your target rate, your order is automatically processed on your behalf. You can set this up directly within your Centtrip account.

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2) Stop Loss

A Stop Loss Order can be used to stop further loss when an appreciating market starts to reverse. This protects you from purchasing currency at a poorer rate than expected or required. Choose a 'worst case' target rate that is weaker than the current market level and your order will be automatically executed if the market reaches this rate, protecting your profits. Contact our team to discuss or place a Stop Loss Order.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/PGptJ4g3sB/stoploss.png (stoploss.png)

3) One Cancels Other

This is a combination of both a Take Profit Order and a Stop Loss. If the market appreciates and the Take Profit Order is triggered, the Stop Loss will automatically be cancelled. Conversely, if the Stop Loss is triggered the Take Profit Order will automatically be cancelled. These are enable you to take advantage of a positive market move, whilst protecting a key level. Get in touch to discuss a OCO order.

Question 3

How do I access my requested card expense reports?

Accepted Answer

You will recieve an email confirmation when your requested report is ready to download.

Follow the steps below to access it:

Question 4

Where can I find out more about the Centtrip card?

Accepted Answer

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The Centtrip prepaid card can hold funds in up to 15 currencies and offers the highest balances and transaction limits on the market. You can transfer funds between your account and card in seconds and view real-time expenditure via your desktop account or the app.

Manage multiple cards under on Centtrip account
Hold funds in up to 15 currencies on one card simultaneously
Enjoy a standard balance of up to £100,000
Make single purchases of up to $175,000 equivalent
Withdraw up to £4000 daily from 2.1 million ATMs worldwide
Use your card in more than 210 countries and territories
Transfer up to £50,000 daily to one or multiple cards instantly
Choose from GBP, USD or EUR as a base currency for your card
Streamline reconciliation with in-app receipt upload and a dedicated Expense Management platform

higher balances and limits available upon request, subject to approval.

How to order cards

You can download the Card Order Template within your Centtrip account, under Order Cards.

Don't yet have a Centtrip account?

Question 5

What is a 'Bank-To' foreign exchange trade?

Accepted Answer

A Bank To foreign exchange trade is where you have booked a currency conversion within your Centtrip account, and chosen to pay using funds from your corporate bank account, rather than your Centtrip account.

This will require you to make a transfer from your corporate account, to the details provided (shown on-screen and in your confirmation email) by the specified date.

Question 6

How do I access my requested reports?

Accepted Answer

Any reports you generate in your account or Expense Management will be available under 'REQUESTED REPORTS', which can be accessed in two ways:

Hover over your name and select 'REQUESTED REPORTS'

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/SP7vclLu5H/resources/8PmHsDQP4L/Requested%20reports%201.png (Requested reports 1)

OR

Open Expense Management and select 'REQUESTED REPORTS'

Question 7

Can I change the base currency on my existing multi-currency card?

Accepted Answer

No, the base currency is determined when the card is created. However, you can request a new card by contacting us using the details at the bottom of this page.

Question 8

What is a 'transaction over amount' alert and how can I set one up?

Accepted Answer

Receive an instant notification if there is a transaction over a specified amount for a particular card.

Administrators, via email
The cardholder, via email
The cardholder, via SMS

View our guide on how to set up alerts

Question 9

What should I do if I have lost my device?

Accepted Answer

Your Centtrip app is secured with either a passcode or biometrics to prevent unauthorised access.

If you've enabled Multi-factor Authentication, you'll be unable to log in to your desktop account without an in-app security code. Please contact us using the details at the bottom of this page and we'll help you get access to your account.

Question 10

Why is my account still visible when I have signed out?

Accepted Answer

This is because your device is still linked to your account.

To unlink your device from your account:

Select the account
Log in using your credentials
Select Two-factor Authentication
Select Unlink Device
Sign out and the device will be unlinked from your account