Question 1

Can I use Centtrip for payments and foreign exchange?

Accepted Answer

Yes! Once this service has been enabled for your account, you will have direct access to the live FX market and can convert over 130 currencies at competitive rates. Place spot, same-day or forward trades and market orders effortlessly within your account.

Purchased currency can be used to make fast and secure international payments, without the hefty banking fees. Alternatively, convert multi-currency revenue streams back into USD and transfer to your Centtrip account or cards.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/rA3FrKfr4N/US%20-%20FX%20%26%20Payments.png (US - FX & Payments)

Get Started

Sign into your Centtrip account and click on 'PAYMENTS & FX' in the left-hand menu. If you are not taken to the payments & FX dashboard, it means either that this service has not yet been enabled for your account, or you do not have the relevant access rights. To find out more and request access, please contact your Centtrip account manager or email Client Support.

Question 2

How do I check my card limits in the app?

Accepted Answer

As a cardholder, you can check your cash withdrawal and card spend limits anytime using the Centtrip app, in either of the following ways.

From the app dashboard:

Sign into the app and select ‘All cards’ from the dashboard
Tap on your card to reveal additional functions
Choose ‘Card Settings’ and scroll down to view your limits

From the CARD TRANSACTIONS screen:

Access 'CARD TRANSACTIONS' from your app dashboard
Press 'BALANCE AND LIMITS' at the bottom of the screen
Tap on the 'Card Limits' tab to view

Get your copy of our cardholder guide for more helpful hints and tips on using your card and the app.

Question 3

How do I use the 'Projects' feature to automatically label expenses?

Accepted Answer

Save time when managing and reconciling expenses by creating 'Projects' - your custom project label (as well as the associated accounting code) will be automatically assigned to any expenses incurred within a specified time period, for one or more selected cards. You can then run and export comprehensive statements for your project.

This is ideal for automatically allocating expenses to a particular Yacht, Charter, music tour, or production.

[how-tos][figure]Visit your CORPORATE LABELS dashboard and switch to the Projects tab. Then click Create new.[/figure][figure]Enter the project name, an alternative value (such as an accounting code) and the duration of your project. Then select which Centtrip cards should be associated. For example, you could enter the name of a yacht as the project, with the charter start and end dates, and only add the cards for that specific charter crew.[/figure][figure]Once set up, the project label will be automatically attached to any expenses incurred during your specified period, for your selected cards. Your project will show as Pending, Live or Closed, dependent on the project dates you entered. This means you can set up projects ahead of time.[/figure][figure]If required, you can also add or remove project labels manually. Visit EXPENSES and click on a transaction. Then use the dropdown to add your project under Corporate labels. Click the cross to remove it anytime. Switch to the Account transactions tab to add project labels in the same way. [/figure][figure]To view statements and export reports for a particular project, visit STATEMENTS and switch to the Projects tab. Then use the filter to select a project and hit Update to view all associated expenses.[/figure][figure]You can view the opening and closing balances for your project, along with the money in and out at the top. Click XLSX to export - edit, analyse, share with clients, or integrate into your existing accounting systems.[/figure][/how-tos]

Question 4

How can I update my cell number?

Accepted Answer

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/ssTv2cUQS2/resources/QHq0ukTqGk/US%20-%20Update%20details.png (US - Update details (1).png)

Sign into your desktop account using either email or app verification.
Click on your name in the top-right of the screen and select 'My details'.
Select the edit icon next to the cell number.
Pick your area code, enter your new number and click 'Save'.
Once updated, click the 'Verify' button.
Enter the code sent to you via SMS and click 'Confirm'.
You can now use SMS verification to sign into your desktop account.

Question 5

What should I do if my card is lost or stolen?

Accepted Answer

Cardholders can report a lost or stolen card and instantly block it using the app:

Open the app and visit the ‘YOUR CARDS’ screen by tapping ‘All cards’ from the app dashboard.
Tap on your card to reveal card functions, and press ‘Card Settings’ to open.
Select ‘REPORT AS LOST OR STOLEN’ to permanently close your card and order a replacement.
Please notify your account Administrator so they can arrange a new card and transfer any preloaded card funds back into the main account.

Important! This action cannot be undone; we recommend locking your card if unsure.

If you're an administrator, set the card limits to zero to prevent any unauthorised activity and contact Centtrip.

Question 6

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:

Sign into your Centtrip account via your desktop.
Select 'USERS' from the left-hand menu.
Browse or search the list to find the user you are looking for.
Check the 'VALIDATION' Column. Users with a cross have not yet activated their account.
Click the 'Resend Email' button to the right of this column, to send an instant email reminder.
Once the user has activated their account and created a password, the cross under 'VALIDATION' will change to a tick.

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

Question 7

What does it mean if a card ‘spends from a shared balance’?

Accepted Answer

All cards associated with your Centtrip account will be one of two types;

Cards that spend from the shared balance will draw funds directly from the operating account.
Pre-load cards do not spend from the shared balance and require funds to be transferred onto them from the account. Administrators can do this instantly using Quick Transfer.

In both cases, card spend is subject to the limits of the operating account, as well as any individual card limits applied by the administrator.

Question 8

What type of business registration documents can I provide for my Centtrip application?

Accepted Answer

Examples of acceptable business registration documents include:

Please note - registration documents vary by state and may bear a different name to the examples above.

Documents must also be:

Issued by a reliable, independent source such as the local commercial register of the country where the business is registered.
Dated within 12 months of the application, or contain a signature and a state of affairs with a date not older than 12 months. This means a certificate of incorporation may not be accepted

The document must meet the following file format and size requirements:

Formats: JPEG, JPG, PNG, or PDF (maximum 2 pages)
Size:
- PDFs for legal arrangement documents: minimum 1 KB, maximum 25 MB
- Other PDFs and other formats: minimum 1 KB, maximum 4 MB

If you have any questions, please speak to your Account Manager.

Question 9

How do I view my card transactions?

Accepted Answer

You can monitor your expenditure in real time using the Centtrip app - simply select ‘CARD TRANSACTIONS’ at the bottom of the app dashboard. Tap into an expense to view more details, including time and location.

Question 10

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.