Question 1

What is a Forward Contract, what are the benefits and how do I set one up?

Accepted Answer

Forwards enable you to reduce uncertainty and mitigate currency risk by securing a fixed exchange rate for delivery in the future. They give you the freedom to take advantage of exchange rates in times that make sense for you, without having to pay for them until they are needed. This keeps your funds free for other uses and protects you from currency fluctuations.

Types of Forward Contract

Fixed Dated Forward

A Fixed Dated Forward enables you to buy or sell currency for settlement on a specific date in the future, at a pre-determind rate. Unlike a Spot Contract, a Fixed Forward eliminates the risk of a market fluctuation which is out of your favour, by locking in a favourable rate for a future transaction.

Tailor delivery dates to suit your requirements
Allows flexibility for early delivery or to extend the delivery date
Eliminates pricing uncertainties by locking in a favourable rate
Delivery dates up to 12 months in the future

Window Forward

A Window Forward is similar to a Fixed Dated Forward, but offers additional benefits by providing multiple settlements at a fixed rate, within the pretermined timeframe.

You set the delivery window
Allows for multiple deliveries
The total amount of the contract can be settled in increments
Single or multiple deliveries are set at a single exchange rate

Non-Deliverable Forward (NDF)

A NDF allows hedging in currencies where governement regulations retrict foreign access to local currency or the parties want to compensate for risk without a physical exchange of funds. NDF settle against a fixing rate at maturity, with the net amount in USD, or another fully convertible currency, either paid or received.

Contact our currency experts to discuss your requirements today.

Question 2

How do I edit a cardholder's limits and permissions?

Accepted Answer

Account Administrators can instantly edit the limit and permissions for any cardholder.

Step 1)

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/2Av751E2Ia/FAQ%20STEPS%20FINAL%20SIZE%20%2811%29.png (1)

Sign into your Centtrip account, visit MANAGE CARDS and click the card you want to edit.

Step 2)

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

ATM access - use the toggle to enable or disable cash withdrawals in just a click.

Step 3)

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/Zo3i2oO1mz/2.png (2)

Lock/Unlock - instantly lock a card to prevent any further transactions. Unlock again at any time.

Step 4)

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/xfqc5ix4jw/3.png (3)

Close Card - permanently close a card which is no longer required. Please note - this cannot be undone.

Step 5)

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/hF73haQlww/4.png (4)

Scroll down to view daily and monthly limits. Click the configuration icon to edit these.

Please note - you cannot increase limits above those of the limit tier of your operating account.

Question 3

Where can I use my card?

Accepted Answer

Your card can be used in over 190 countries worldwide, wherever Mastercard is accepted.

There are a few countries where the use of your card is prohibited:

Islamic Republic of Iran
Democratic People's Republic of Korea
Sudan
South Sudan
Syrian Arab Republic
Cuba

Usage in the following countries is restricted, which means the countries below are blocked by default but can be enabled on request:

Afghanistan
Albania
Angola
Azerbaijan
Burundi
Bolivia (Plurinational State of)
Botswana
Belarus
Democratic Republic of the Congo
Central African Republic
Western Sahara
Ghana
Guinea
Guinea-Bissau
Haiti
Iraq
Kenya
Kyrgyzstan
Cambodia
Lao People's Democratic Republic
Lebanon
Liberia
Libya
Mali
Myanmar
Mongolia
Mozambique
Nigeria
Nicaragua
Panama
Pakistan
State of Palestine
Paraguay
Russian Federation
Sierra Leone
Somalia
Tajikistan
Tunisia
Ukraine
Uganda
Bolivarian Republic Venzuela
Vietnam
Kosovo
Yemen
Zimbabwe

Question 4

How do I sign into my account for the first time?

Accepted Answer

To begin using your Centtrip acccount and/or card, you will need to activate your account and create a password.

If you are an administrator

If you are a cardholder

Need help? Get in touch.

Question 5

How does a CSA create new users?

Accepted Answer

Corporate Super Administrators can follow the steps below to create additional Admin users and/or CSAs, and specify exactly which Corporate and Operating Accounts the new user(s) should have access to.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/ZExACf8Jkc/SCREEN%20SHOTS%20FOR%20FAQS%20%2824%29.png (SCREEN SHOTS FOR FAQS (24).png)

Input the new user's details and click ‘Next’ at the bottom of the screen
Choose one of the three User Roles from 'Select role' dropdown and then click ‘Add resource’.
Select the relevant Corporate Account, and then 'Select access' --
- Corporate access - grants access to the Corporate Account plus all associated Operating Accounts
- Operation access - enables you to multi-select which Operating Account(s) the user should have access to

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/BveLBHOzcT/SCREEN%20SHOTS%20FOR%20FAQS%20%2827%29.png (SCREEN SHOTS FOR FAQS (27).png)

Press 'Select' once complete and then 'Create' to finish
The new user will receive an instant email verification prompting them to sign in

Question 6

How do I sign in using Multi-Factor Authentication (MFA)?

Accepted Answer

If you are an account Administrator, you will be prompted to complete a quick Multi-factor Authentication (MFA) process whenever you sign into your desktop Centtrip account. This provides additional security to your account:

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/v3N5Uj5qsF/MFA%20SCREEN.png (MFA SCREEN.png)

Authenticate using Email

Click the EMAIL button after signing in and check your inbox for an eight-digit verification code.
Enter this code into your desktop account where prompted
Click NEXT to complete the MFA process and access your account.

Authenticate using the Centtrip App

Download the Centtrip app for iOS or Android, and sign with your desktop login details.
Tap MULTI-FACTOR AUTHENTICATION from the app dashboard and then LINK DEVICE. You'll only need to do this once.
Moving forwards, whenever you sign into your desktop account you can select MOBILE APP as your verification method and retrieve your 8 digit code from the app.

Authenticate using SMS

Cardholders are not required to complete this process to sign into the app

Question 7

How do I make payment using funds from my holding accounts?

Accepted Answer

NOTE - You need access to our Payments and FX Service to use this feature.

Sign into your Centtrip account and open 'Payments and FX' from the left-hand menu.
Select 'Holding Accounts' to view your balances in each currency.
Locate the currency you want to use for payment, and select 'Send Payment' under 'Actions'.
Enter the payment 'Amount'
Click on the ‘Beneficiary’ dropdown - select an existing payee, or ‘Add new beneficiary’.
Enter a 'Value Date' (i.e. the date payment should be sent).
Add your 'Payment Reference', such as an invoice.
If you need to make multiple payments, click 'Add another payment'.
Click 'Continue', then 'Complete Your Payment'.

Question 8

How can I check my card balance?

Accepted Answer

You can check your real-time card balance whenever you need via the Centtrip app. The app will also show how much you have left to spend before hitting your daily limit. There are two ways to check:

From the 'CARD TRANSACTIONS' screen:

Tap 'CARD TRANSACTIONS' from the app dashboard.
Select 'BALANCE AND LIMITS' at the bottom of the screen.
Review your Card Balance and Remaining Available Spend.
Select 'Card Limits' to see your daily and monthly limits for card spend, cash withdrawals and your maximum transaction amount.

From the 'Card Settings' screen:

Question 9

How do I order Centtrip cards?

Accepted Answer

Sign into your account and select 'CARDS' from the left-hand menu.
Switch to the 'Order cards' tab at the top of the screen
At the moment you can only order physical cards, so leave this option as is.
Select the Corporate Account and Operating Account for which you are ordering cards
Click 'Next' to continue. If ordering physical cards, you will be prompted to enter a delivery address and contact.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/1JPS5v2in3/USA%20-%20Card%20orders%201.png (USA - Card orders 1)

Click to download the card order template.
Enter details of the cards you wish to order into the template
Refer to the on-screen validation requirements to ensure you have filled out your template correctly.
Once complete, upload your card order spreadsheet.
Click 'Next' to finish. If there are any errors, these will be shown on-screen. Otherwise you will see a confirmation message.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/GIFLHtQZD1/USA%20-%20Card%20orders%202.png (USA - Card orders 2)

Information on how to start using virtual cards is available here.

Physical cards will require cardholder activation upon arrival.

Question 10

Can I send account activation reminders to admin users on my account?

Accepted Answer

If you are an Administrator on your Centtrip account, you can easily check whether someone has validated their email address and activated their account. If needed, you can then send them an instant reminder.

Follow these steps:

We recommend regularly sorting your user list by the 'VALIDATION' column, to bring all unvalidated accounts to the top for quick and easy review.