If you’ve bought too much, you will need to split the excess amount that you don’t need from the conversion and then cancel it. This can be achieved in two steps:
- Using the ‘split’ button on the conversion details page, split the excess amount that you don’t need from the conversion. This will create a new conversion with the specified amount and the existing conversion amount will be reduced accordingly.
- Using the ‘cancel’ button on the conversion details page for the new conversion created with the excess amount, cancel this. The relevant cost for this cancellation will be provided both before and after the cancellation.
If you need any help with this then please email firstname.lastname@example.org .
If you’ve booked a conversion with the wrong conversion date, you can change this by clicking on the ’Date Change’ button on the conversion details page of the relevant conversion. A screen will be presented where you can define the new conversion date. Before the date change is executed a quote of how much this change will cost will be provided on the screen. After the date change is executed, the confirmed cost will also be presented.
You can convert currencies on our payment platform 24 hours a day, Monday to Friday, however, some transactions face restrictions:
- Forwards, TOD and TOM transactions are unavailable 22:00 to 22:03 GMT each day
- Some exotic currencies may be subject to availability, depending on liquidity in the market
- Some currencies may be unavailable in the event of a bank holiday
If you are unable to get a rate outside of these times, please contact our support team on email@example.com .
If you do not settle your payment on time, your payment due date will be changed for the next day and you will be charged for each additional day that it is not settled. To avoid additional fees, please allow enough time for your bank to send the money to Excel Currencies before the cut off times.
Sending money via regular or local payments is expected to arrive anywhere between the same day and three days, depending on a number of factors. For a detailed schedule of how long it takes to make regular payments, view our payment timelines.
Information that is required for your payment depends on the payment type (local or standard/SWIFT payment), originating country, payer country, payer legal entity type, beneficiary country, beneficiary entity type and payment destination country.
Sell back the returned amount
You will need to allocate a new payment against the original trade to Excel Currencies for the returned amount and then email firstname.lastname@example.org giving instructions that this payment is to cover trade reversal (and include the trade ID).
E.g. Original trade: sell GBP, buy $1000 USD. Returned amount = $1000. Add a new payment against the original trade of $1000 to Excel Currencies USD account.
New trade: sell $1000, buy GBP and allocate to a GBP account of your choice.
If the funds have been returned short (e.g. $950 in the example above), you must remember to only sell back the returned amount.
Then allocate two payments against the original trade; $950 to Excel Currencies USD account to settle the trade reversal and $50 to a Excel Currencies USD SHORTFALL account and email email@example.com with the details.
On Priority payments, we can try to recall funds that have been sent to an incorrect account, however, this option is not available for local payments. Please note, we cannot amend beneficiary details retrospectively once a payment has been released.
Recalls are not always successful as it relies on the co-operation and approval of the receiving bank and the beneficiary. We can only place one recall on a payment and this cannot be cancelled. Once the recall is placed, our banking partner will chase for a response after seven working days. No further chaser will be made until a response is received.
The best way to get funds returned is for the beneficiary to contact the receiving bank directly, inform them of the situation and request that they reject the payment.
If a payment fails, then you will be sent an email with the reason given to Excel Currencies by the recipient’s bank for the failure.
You need to speak with the beneficiary’s bank directly for instructions on avoiding a returned payment again.
The most common reasons are incorrect details (e.g. account number) being submitted on the payment.
On occasion, the banking network may have to route funds via a corresponding bank to reach your destination; these corresponding banks may levy a transaction charge resulting in your funds arriving short.
This is more common with US dollar transactions so we advise you to send additional funds to cover these charges if they occur regularly.
Double check the recipient’s bank details against the details in the payment confirmation and make sure they match. Are there any other external factors that could delay the payment such as a bank holiday?
If the money has not arrived and there is no reasonable explanation, we can obtain an MT103 message for SWIFT (Standard) payments. Please note, this will incur a charge usually costing £10.We can also put a trace on the payment to locate where funds are, although this will only be done on a “best endeavours” basis. Again, this will incur a fee.
The options open to locate local transfers are more limited.
To help avoid payment delays, always reference your payments clearly and pass the reference details onto the beneficiary so they know to look for it.
• Funds will be released by Excel Currencies on the “delivery date” noted on the trade confirmation email
• Please refer to our Payment Timeline for exact times for currency cut off times
• Please allow additional time for any payments sent locally
You will receive an automated email confirmation advising when we have settled a transaction. The status of the transfer will update to “Completed” on the platform in Payment History. This means we have made the payment as per the instructions provided and are now waiting on funds to arrive with the recipient. Please check the email confirmation for specifics as the type of payment (either standard or local) will affect the speed of the delivery. Different currencies may also take longer to clear.
In order to meet our regulatory requirements, mandatory information is required when making payments. Our comprehensive payment guides outline the compliance information required for any payment.
Remember that your login ID, security questions and password are all case sensitive. Make sure you haven’t got Cap Locks on. Login IDs must also be unique. If you have one user with multiple accounts, you must have different logins for each account.
If you still can’t log in, contact firstname.lastname@example.org
Using faster payments to fund your GBP wallet FAQs
We’re speeding up the time it takes to apply received funds to your account by allowing you to fund your GBP wallet using the faster payments service (FPS). You’ll find a list of frequently asked questions below.
You now have access to a new dedicated account number which will allow you to fund the wallet via FPS.
Your funds get assigned almost instantly to your account as we have automated our reconciliation processes.
No. It is only possible to fund your GBP wallets via faster payments. If you want to use BACS, CHAPS or SWIFT to fund your wallets, you’ll still need to use the existing funding route.
Your dedicated account number can be found on all GBP trade confirmations. Please contact your account manager to get a copy of these details if needed.
Yes you can still use the existing funding route but we recommend the new service as it will be more efficient for you.
No. You’ll no longer need to provide a reference, or ask your customers to provide a reference, as the account number is unique to you, saving you time and effort.
The maximum value you can send per payment is £250K.
When making payments to Canada using our local route, there are certain jurisdiction restrictions that apply.
Following the guidelines imposed by our banking partner, local CAD payments will not be permitted to be created if the client, payer or beneficiary are from any of the jurisdictions listed below:
|Country Name||Country Code|
|United Arab Emirates (UAE)||AE|
|Democratic Republic of the Congo||CD|
|Central African Republic||CF|
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