Client Support
Below are the answers to the most common questions that we get asked. If you can’t
find what you are looking for, a member of our client support team will be happy
to talk to you personally.
Is my money safe?
For 4X, protecting our customers' assets and our own business is a top priority.
That's why we take the most stringent precautions to make sure we comply with international
security and legislation regarding terrorist financing, money laundering, banking
and privacy.
For maximum security, all customer funds are kept in designated accounts at ABN
Amro Bank for the receipt and payment of transaction monies. 4X keeps its own operating
accounts with Barclays Bank. All client payments have dual digital sign off. ABN
Amro has intra-day reporting so that incoming payments can be identified even before
they arrive in our bank account as cleared funds. Outgoing payments can be tracked
and traced in real time.
Back to Top
Where can you send my payment?
All our payments are made by same-day international wire transfer, and can be made
to any bank account in the world, either yours or a third party.
Back to Top
How do I tell you who to pay?
When you log onto 4X Dealer™ you need to input the details of the beneficiary account(s)
where you would like your money to be paid. When you carry out your currency trade
you choose the relevant account, and our system knows that is where the money should
go.
If you don’t know the beneficiary account details, you can still carry out your
trade by simply choosing the 4X account in the currency you are buying. The currency
will be automatically held for you in our client account until you instruct us where
to pay it.
We can only accept payment instructions via 4X Dealer™ or in writing via post or
email, not over the telephone.
Back to Top
How long does it take?
We make your onward payment as soon as your inward funds have cleared into our account.
This would typically be on the second morning after you have instructed the currency
deal.
Example
- Monday: You instruct the currency deal and onward payment details via 4X Dealer™
and you wire your funds from your bank account to 4X Currency by CHAPS or international
wire payment.
- Wednesday: Your funds have cleared 4X Currency's bank account and we make your onward
payment by international wire payment.
Back to Top
How do I send my money?
We don’t deal with cash or cheques – if you make an international payment through
us the money will need to be transferred to and from a bank account.
Once you have agreed your exchange rate via our online system, 4X Dealer™, you will
need to send your funds to us. You can do this one of two ways:
Over £10,000 requires a CHAPS payment. This is a same day wire payment that your
bank can arrange for you. They will probably charge you between £20 and £30 to make
the payment and you may have to go into the branch.
Up to £10,000 can be transferred by BACS payment. This payment can usually be arranged
over the phone with your bank, or by using your own online banking, and is generally
free. BACS payments can take up to three working days to reach our bank account.
4X operates strict anti-money laundering policies, which means we can only accept
money from an account in the name of our registered client or business. If you are
paying us from a joint account, please make sure this is made clear on the payment.
Once we have received your payment we will transfer your currency to your nominated
account. This could be an account in your name, or we can pay a third party such
as a supplier, a lawyer or notaire.
Back to Top
What will it cost me?
When we quote you an exchange rate it will always include all our costs and fees.
There are no hidden extras, no commissions and no transmission charges.
We believe in full price transparency, and if you compare our dealing rates to any
other provider, please make sure you factor in anything else they might charge you
on top.
Our processes are highly automated, which means our overheads are very low. This
in turn means we can build all our costs and our profit into our exchange rate,
and the payment itself is free.
The only additional charges you may have are:
CHAPS payment – if you are exchanging more than £10,000, you bank will probably
charge you to send your money to us. This will be in the region of £20-£30. However
as you should be saving several times that amount by making your international payment
through 4X, you may just have to grit your teeth and pay it!
Additional beneficiaries – we include one free international payment with each currency
transaction. If you wish to split the payment to more than one beneficiary, we will
make a charge of £10 per additional beneficiary to cover our costs.
Back to Top
Can I track my payment?
Yes. If you are making an international payment it is vital that you know it will
reach its recipient on time.
You will receive an automated email notification as soon as your same day wire payment
has been released by 4X Currency's bank to your beneficiary, containing all relevant
details.
These details can be used by you and by us to track and trace the progress of a
payment should this be required. We can track payments in real time, and in many
cases can speed up the process should a payment become delayed in the banking system.
Back to Top
How do I log on?
You can log on in one of two ways. Either click on the 4X Dealer™ icon on your desktop,
or click on logon 4X Dealer™ at the top of each page on our web site.
Back to Top
I’ve lost my password
If you have forgotten or lost your password, please call us
and we can reset it for you.
Back to Top