From application to first payment
Onboarding is thorough and takes place at the start of the relationship, followed by periodic reviews. Once your account is open, each trade follows the same short routine with your named contact.
In shortOpening a CCYFX account has five steps: apply online, receive a document list, complete due diligence, receive approval, and set up users. After that, each payment follows four steps: request a quote, accept it, fund the trade from an account in the client’s own name, and CCYFX screens and releases the payment.
Opening your account
The time this takes depends mainly on how complete your documents are and how many layers your structure has.
- 1
Apply online
Tell us about the entity, its owners, its industry and the payments you expect to make.
About 10 minutes - 2
Document list
We send you a list of documents specific to your structure and sector.
After initial review - 3
Due diligence
We verify the entity, its licences, its controllers, its beneficial owners and its source of funds.
Depends on structure - 4
Approval
We approve the account and send you our client terms.
Once checks are complete - 5
Account opened
We set up your authorised signatories and introduce your named contact.
Ready to trade
Making a payment
The same routine each time, with written confirmation at each stage.
- 1
Request a quote
Email or call your named contact with the amount, the currencies and the value date.
- 2
Confirm
Accept the rate. We send you a written trade confirmation.
- 3
Fund
Send funds from an account held in the name of your entity.
- 4
Release
We screen the payment, release it to the beneficiary and send you a confirmation.
Preparing for onboarding
Build your document list before you apply
Use our onboarding checklist to see what your structure is likely to require.
Provide a structure chart
A clear chart showing each layer of ownership up to the individuals at the top avoids repeated requests for information.
Use recently issued documents
Certificates of good standing and incumbency should have been issued within the last three to six months.
Explain why the structure exists
A short note on the purpose of the structure and the payments it will make.
Tell us about your business
Apply online in about ten minutes. We will reply with the documents your structure requires and an indicative timeline for onboarding.