Question 1

How do I view closed or expired cards in my account?

Accepted Answer

If some of your Centtrip cards have been closed or have expired, these may be hidden from your account dashboard and the reports you run. This is designed to help keep your account clear and easy to manage.

However, you can make a quick change in your account settings to unhide them.

Unhide closed and expired cards:

Sign into your Centtrip account here
Hover over your name in the top-right of the screen
Select 'Settings' from the dropdown menu
Switch 'View closed and expired cards' to 'Yes'
Click 'MODIFY' to save your changes

You can now return to your account dashboard by clicking the Centtrip logo, and all closed and expired cards will now be visible.

View our guide on how to run a report on multiple cards and currencies.

Question 2

How do I remove a user's account access?

Accepted Answer

Corporate Super Administrators can instantly remove access for any users on the account.

Watch quick video -

Follow these steps -

Sign into your account, click or hover over the settings cog and select 'User Management'. Then select your Corporate and Operating Account, and 'APPLY'.

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Review the list and locate the user you want to remove access for. Click 'EDIT'.

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Scroll to the bottom and switch on Disable corporate Site access. Then SAVE.

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How can I check whether I am a CSA?

Question 3

What is CenttripNow and how can I use it to make instant payments?

Accepted Answer

CenttripNow enables funds to be transferred instantaneously between connected Centtrip accounts, completely free of charge - 7 days a week, day or night. To use this service, all you need to do is connect the relevant accounts via the CenttripNow network.

If your intended beneficiary/payee does not yet have a Centtrip account, they can apply online here.

How to get started -

Step 1 - Sign in

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Both you and the beneficiary/payee need to have a Centtrip account. Sign in or apply online.

Step 2 - Connect via CenttripNow

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Visit the 'RECIPIENTS' section of your account (A). If required, click 'ADD RECIPIENT' (B) and follow the steps to set up a new beneficiary. Then, use the check boxes to select recipients (C) and click 'INVITE' to send an instant CenttripNow email invitation (D). Once they accept, you will be able to send and receive payments.

Step 3 - Connect via CenttripNow

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Alternatively, click 'ADD CENTTRIPNOW' (A) and enter a beneficary's unique CenttripNow code (B). You can also share your own, which will be shown here (C), with any payees.

Step 4 - Load account funds

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Ensure you have sufficient funds - check your balance and load your account if required.

Step 5 - Convert currency

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For international payments, you can convert currency directly within your account.

Step 6 - Make your CenttripNow payment

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To make a CenttripNow transfer, select 'Send Payments' (A) and input the details. Choose 'CenttripNow' as your payment method (B) and submit your payment when ready (C).

CenttripNow can also be used to make free, instant batch payments - find out more

Question 4

How can I increase my account or card limits?

Accepted Answer

Centtrip accounts and cards are set up with our 'Standard' limits by default. Please contact your Account Manager or Client Support if you would like to request a change to your limits.

You can view our different limits here.

Question 5

What is a forward contract and how do they work?

Accepted Answer

What is a forward contract?

A forward contract (or forward trade) is an agreement to buy or sell a specific amount of currency, at a predetermined exchange rate, on a specific date in the future. Forward contracts are derivative financial instruments (i.e. their value is dependent on the changing value of the currencies involved) which are used to mitigate adverse currency fluctuations - they are used by many businesses to protect profits and bottom lines.

Forward contracts are priced in the same way as SPOT contracts, where a spread is charged to the FX rate. Forward pricing can vary from SPOT pricing based on numerous factors, including interest rate differentials between the 2 currencies and the period you are looking to secure the exchange rate for.

What are the benefits?

Gain protection against adverse moves in exchange rates - a fixed rate means budgets and forecasts will not be affected by FX volatility
Simplify your budgeting and forecasts with a guaranteed rate of exchange.
Enjoy a greater degree of certainty - be better able to predict cash flows and understand what will be received.
Lock in a favourable exchange rate now, for future currency requirements.
Enjoy a flexible payment plan - pay in full on a chosen date or spread your payments over the contract period.

What is required to secure a forward contract?

All forward contracts require an initial deposit on the contract to secure the trade. The deposit is held against the contract and will be deducted from the final drawdown of the contract.

EXAMPLE:

Company A has a requirement to convert 1m USD into GBP in 6 months. Noting that the exchange rate is currently advantageous, they book a forward contract to mitigate any adverse moves in the market. On execution of this trade, Centtrip require Company A to pay an initial deposit of 10% (USD 100,000.00), which will be taken off the final sum of the amount due on the contract.

Company A's contract protects them from any adverse moves in the market, and avoids any currency risk - in 6 months, they know exactly what rate of exchange they will get when converting USD to GBP.

What is a ‘Margin Call’?

Throughout the contract, Centtrip’s treasury team will monitor the trade against the performance of the market.

If the market should move by 5% against the value of the trade, Centtrip will require additional collateral known as ‘Variation Margin’, to hold against the contract, in addition to the 10% deposit. It should be noted that this is not a charge/cost, this will be held additionally to the initial deposit.

This request for ‘Variation Margin’ is known as a ‘Margin call’ and needs to be sent to Centtrip within 48 hours of the request, subject to weekends and Bank holidays.

If Centtrip exercises a ‘Margin Call’ on a specific trade, this will be held against the forward contract, alongside the initial deposit. The additional collateral is held against the forward contract until its maturity date and then taken off the final sum of the amount due on the contract.

Please note, if required Centtrip may exercise multiple margin calls.

For more information, please refer to our Forward Contract Addendum.

What if I can’t pay the ‘Margin Call’?

If the ‘Margin Call’ request is not met within the timeframe of 48 hours, Centtrip reserves the right to close out the forward contract. In this scenario, if there is a financial loss, this will be taken from the initial deposit and any funds held against the trade. Should the financial loss exceed these amounts, this will be passed on to the client.

Things to consider before booking a forward contract.

Given that forward contracts are a derivative financial instrument, there is risk involved, as the market could move against the rate of the contract. The value/position of the contract will be monitored by Centtrip’s treasury department on an ongoing basis to make sure that we hold enough collateral against the contract.

You need to be aware that should the market move adversely, Centtrip may require additional funds to be sent within 48 hours notice. As a business, you need to make sure there is sufficient cash flow to facilitate more than one ‘Margin Call’. The longer the required duration of the contract, the greater the risk of the contract itself.

Is a forward contract right for you?

If you have any questions about the information above, or are not sure whether forwards are suitable or the best choice for you, please get in touch. Our expert team will help you make an informed decision based on your requirements. If we do not believe a forward trade is right for you at this stage, we will tell you.

Question 6

What payment methods can I use to load my account or settle an FX trade?

Accepted Answer

Please use one of the accepted payment methods listed below whenever you need to settle an FX trade (booked either via our dealing desk or as a bank-to conversion through your Centtrip account), or to load your Centtrip account.

Important - all payments must be made from an account in the same name as your Centtrip account. Learn more.

Accepted Payment Methods

Faster Payment Service (FPS) - FPS delivers funds within 2 hours, and is available 24 hours a day, 7 days a week. Please check your transfer limit with your bank before use. For amounts above your bank’s FPS limit, you can send a CHAPS transfer for same day-delivery.
CHAPS – CHAPS is a same-day GBP transfer from a UK bank account. Transfers must be made before a certain time to be available in your Centtrip account on the same day. Please check with your bank for times and charges associated with the transfer.
SWIFT – this is the only payment method to send GBP from a non-UK bank account. These transfers can take 1-3 working days to be received into your Centtrip account.
Single Euro Payments Area (SEPA) - SEPA is a pan-European network that allows you to send payments in Euros, provided you’re based within the EU. This can take between 1-2 working days for us to receive cleared funds into your Centtrip account.

Question 7

How do I export card expense statements and reports?

Accepted Answer

Apply custom fields and filters and export transaction data, with or without cardholder receipts, in a variety of formats to suit your requirements.

Watch 2-minute video -

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Follow these steps -

Tailor your data to suit your requirements.
Click either 'XLSX' or 'PDF', depending on your preference, and choose an export option (see below for more).
You will receive an email once your report is ready. Visit 'REQUESTED REPORTS' to download it.

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Export options:

XLSX

Transactions only – easily edit and customise your data, to integrate with digital expense sheets, or to import into your accounting software.
With Urls – include links to each expense receipt to easily view or download, without having to sign in.

PDF

Transactions only – export professional transaction statements; useful for submitting expenses for final approval.
With images - the same professional PDF statement, with the addition of receipt images under each transaction line.
ZIP with attachments - instantly download all receipts to save locally, view or share.

Question 8

How can I check my account fees?

Accepted Answer

Your fees are available in your account and can be viewed by following the steps below.

Sign into your Centtrip account via your desktop.
Hover your curser over the person icon, to the left of your name.
Select 'Fee Schedule' from the dropdown menu.
If you have multiple Operating Accounts, switch between them to view the fees in the same way for each one.

Question 9

What can I do to keep my Centtrip card secure?

Accepted Answer

Centtrip are committed to keeping your money safe. As a reminder, PLEASE NEVER SHARE SENSITIVE INFORMATION OR SECURITY CODES, VIA ANY MEANS.

CENTTRIP WILL NEVER ASK YOU TO -

Share personal, account or card details, whether by phone, email, SMS, chat, or by entering information into your phone.
Provide full or partial digits from your 16 digit Centtrip card number, or ask you to enter this anywhere. Your full card number is only used for purchases - never give this number to ANYONE in any circumstances, other than when making a purchase yourself.
Provide (or key-in) Centtrip security or verification codes sent to you by email, SMS or generated in the app.
Transfer money to another account which is not in your name.

Please be vigilant - scammers are continually seeking new ways to attempt to ellicit sensitive information from you.

IF EVER IN DOUBT -

Best Practice Security Measures

Question 10

How do I create card balance and transaction alerts?

Accepted Answer

Sign into your desktop account to create custom card balance and transaction alerts. These can all be tailored to your requirements and are ideal for avoiding delays and helping to keep your account and card(s) secure.

Card Balance Alert: ensure a cardholder never runs out of funds by receiving a low card balance alert.
Transaction Over Amount: set alerts to catch any unusual card spend and help keep your account secure.
Transaction Declined: receive instant notification of a declined transaction along with the reason for it.

Watch 2-minute video:

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Get a guided tour:

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

Follow these steps:

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After signing into your account, click or hover over the settings icon in the top right corner of the screen and click 'Alerts / Market Orders'.
Use the dropdown menu to choose an alert type: 'Card Balance Alert', 'Transaction Over Amount' or 'Transaction Declined'.
Search for the relevant card and click 'EDIT' to create your alert.
Depending on the alert you've selected, you will be promoted to enter a value, or simply to select how you would like to be notified: an email to administrators, an email to the cardholder or a text message to the cardholder. Tick your preferred options and click 'OK' to save and activate your alert.

Hints and tips

Alerts can be switched off and on any time by clicking 'DISABLE' / 'ENABLE' next to the relevant cardholder.
You can activate or deactivate all cardholder alerts instantly by clicking 'ENABLE ALL' / 'DISABLE ALL' at the top of the screen.
Any pre-existing 'Rate Alerts' and 'Market Orders' can also be viewed and edited from here.
New 'Rate Alerts' and 'Market Orders' can be set up from your account dashboard.