Frequently asked questions
What do you want to know? Find the answer you're looking for below, or contact sales if you have further questions
General questions
How does settlement work?
When you fund your Bound account, the funds will flow from your account to Bound's settlement account. These funds are then sent to our Liquidity providers such that the buy currency arrives back into the Bound settlement account on settlement day. As soon as the buy currency funds are received, they will be returned to your Bound account wallet of the appropriate currency.
How long can I hedge for?
Up to 12 months on platform.
Will you notify me about funding cutoffs and receiving money?
Yes! You will recieve reminder emails (opt out) whenever you have funding due that day, as well as confirmations on all bookings, payments and funds received.
Can I change my transactions, including cancel them?
Yes, with the click of a button. Check out our product tour to see how easy it is.
Do I have to post margin with Bound for hedging products?
Subject to financials.
Will I have an account manager or have to go through support each time?
Yes, you will have a Dedicated Account Manager with years of FX expertise at your fingertips.
How does settlement work?
When you fund your Bound account, the funds will flow from your account to Bound's settlement account. These funds are then sent to our Liquidity providers such that the buy currency arrives back into the Bound settlement account on settlement day. As soon as the buy currency funds are received, they will be returned to your Bound account wallet of the appropriate currency.
How long can I hedge for?
Up to 12 months on platform.
Will you notify me about funding cutoffs and receiving money?
Yes! You will recieve reminder emails (opt out) whenever you have funding due that day, as well as confirmations on all bookings, payments and funds received.
Can I change my transactions, including cancel them?
Yes, with the click of a button. Check out our product tour to see how easy it is.
Do I have to post margin with Bound for hedging products?
Subject to financials.
Will I have an account manager or have to go through support each time?
Yes, you will have a Dedicated Account Manager with years of FX expertise at your fingertips.
How does settlement work?
When you fund your Bound account, the funds will flow from your account to Bound's settlement account. These funds are then sent to our Liquidity providers such that the buy currency arrives back into the Bound settlement account on settlement day. As soon as the buy currency funds are received, they will be returned to your Bound account wallet of the appropriate currency.
How long can I hedge for?
Up to 12 months on platform.
Will you notify me about funding cutoffs and receiving money?
Yes! You will recieve reminder emails (opt out) whenever you have funding due that day, as well as confirmations on all bookings, payments and funds received.
Can I change my transactions, including cancel them?
Yes, with the click of a button. Check out our product tour to see how easy it is.
Do I have to post margin with Bound for hedging products?
Subject to financials.
Will I have an account manager or have to go through support each time?
Yes, you will have a Dedicated Account Manager with years of FX expertise at your fingertips.
Payments
Who can I send money to?
Companies in your group structure.
Who can I receive money from?
Also companies in your group structure.
What time is the latest I can fund by on my settlement date?
Funds must arrive before 11am (GMT+1) on the day of settlement.
How long do payments take to send once funded?
Depending on currency, Payments typically take between 0 - 4 hours.
What happens if I don't fund my transaction in time?
No issue at all, your transaction will automatically roll to the next day.
Who can I send money to?
Companies in your group structure.
Who can I receive money from?
Also companies in your group structure.
What time is the latest I can fund by on my settlement date?
Funds must arrive before 11am (GMT+1) on the day of settlement.
How long do payments take to send once funded?
Depending on currency, Payments typically take between 0 - 4 hours.
What happens if I don't fund my transaction in time?
No issue at all, your transaction will automatically roll to the next day.
Who can I send money to?
Companies in your group structure.
Who can I receive money from?
Also companies in your group structure.
What time is the latest I can fund by on my settlement date?
Funds must arrive before 11am (GMT+1) on the day of settlement.
How long do payments take to send once funded?
Depending on currency, Payments typically take between 0 - 4 hours.
What happens if I don't fund my transaction in time?
No issue at all, your transaction will automatically roll to the next day.
Security
How are my funds protected?
For all MIFID regulated customers, all funds will be safeguarded as per FCA guidelines.
What permissions can I set for my team?
Any or all of the below: Conversions creator, Recipient creator, Payments creator, Payments reviewer.
Can I set up multi-factor authentication for my account?
Yes! Each user can enable it in settings.
Is my data secured?
Bound takes both security of funds and data very seriously. We always act honestly, fairly and put the best interest of our customers first. Bound provides a secure environment for companies to carry out their FX requirements. Please see our Privacy policy for more information.
How are my funds protected?
For all MIFID regulated customers, all funds will be safeguarded as per FCA guidelines.
What permissions can I set for my team?
Any or all of the below: Conversions creator, Recipient creator, Payments creator, Payments reviewer.
Can I set up multi-factor authentication for my account?
Yes! Each user can enable it in settings.
Is my data secured?
Bound takes both security of funds and data very seriously. We always act honestly, fairly and put the best interest of our customers first. Bound provides a secure environment for companies to carry out their FX requirements. Please see our Privacy policy for more information.
How are my funds protected?
For all MIFID regulated customers, all funds will be safeguarded as per FCA guidelines.
What permissions can I set for my team?
Any or all of the below: Conversions creator, Recipient creator, Payments creator, Payments reviewer.
Can I set up multi-factor authentication for my account?
Yes! Each user can enable it in settings.
Is my data secured?
Bound takes both security of funds and data very seriously. We always act honestly, fairly and put the best interest of our customers first. Bound provides a secure environment for companies to carry out their FX requirements. Please see our Privacy policy for more information.
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