Frequently Asked Questions

The following frequently asked questions will make the process of sending money easier.

Frequently Asked Questions

The following frequently asked questions will make the process of sending money easier.

Currency Payments

Simply by logging into your Portal, you are able to lock the currency exchange rate at that time!

No need to have available funds to your account, we give our clients the ability to take advantage of the live exchange rates, book the rate any time and send the funds to credit their account the next working day.

With the TFI online portal, you can pay your suppliers abroad and in their local currency on time, avoiding delays and extra costs. With an experienced Support and Back office team we make sure that your payment is processed on time and you receive a SWIFT notification/confirmation for your records.  

Payments are sent in the name of your company thus making it easy for your beneficiaries to trace them. 

Sending a payment is easy: 

Go to Single currency Payment > Enter the amount > Complete the beneficiary details and approve the payment.

Once the payment is approved by your authorized users, and if your account balance is sufficient, we process the payment on same day and you receive a SWIFT notification for your records.

Checking your account balances is easy. Simply login to your TFI Portal and choose Accounts. From Accounts you can monitor your account Balances in different Currencies and you can also extract detailed information on Incoming and Outgoing funds. 

An important Note: Please note that TFI does not charge any extra fees for the incoming funds. We will credit the full amount we receive to your account.  

You can always check your payment status from the Activity tab and then Payment Status. There you can also find your transaction confirmation, any Uploaded documents and the Swift confirmation. 

Currency Conversions

Simply by logging into your Portal, you are able to find all available currencies online.
If for some reason your preferred currency is not available on the TFI Portal –some currencies have specific requirements – you can contact one of our Currency Specialists for further assistance.

Using the calculator from your TFI Portal you are able to monitor the live currency rates at any specific time of the day and also check what this rate equals to the amount you want to sell or buy.

If you are ready to proceed with the transaction, simply follow this 3-step process:

  • Go to Dealing and select the currencies to buy and sell and enter the converted amount 
  • Select the value date, which is the date on which currencies are debited or credited from your accounts
  • Click Trader Quote to review the Live currency Rate, before accepting or declining the conversion

At TFI we issue Multicurrency IBANs under your company’s name. To set up a different account currency please contact your account manager.

At TFI we make sure you have access to live rates at all times. Our Dealing Room is available to you 24/5.

Moreover, our clients have the option to set up Call Level Alerts or Place a Request to automatically lock in a specific amount at a preferable rate.

Currency Risk Management

A forward is a contract between TFI Markets and our clients allowing them to lock in the exchange rate for the exchange of two currencies on a future date.
The forward contract can be tailored to reflect the exact amount of exposure and value date required by the client.
The client will initially deposit a margin with TFI Markets and at the value date the forward is closed-out and the client can either effect a payment or just settle the profit or loss from the contract.

A Flexible forward is a forward contract offering the flexibility for the client to book the rate today for maturity up to 1 year. The client can settle the contract partially or fully and at various dates up to maturity, free of charge, as long as by the maturity date, the full amount is exchanged.

You are exposed to Currency Risk if you:

  • pay suppliers in a foreign currency
  • collect payments in a foreign currency
  • have assets or liabilities denominated in a foreign currency
  • have loans or deposits denominated in a foreign currency
  • expect to pay or receive foreign currency in the future

You can very easily monitor all your open Forwards from your Online Portal. Under Analysis tab our clients can monitor live all their open forward contracts and margin levels. Also, under Reports tab you can create customized reports to suit your needs and reporting requirements. 

How To Get Started

You may complete the contact form and one of our sales representatives will contact you for further assistance.

You can find the required documents for opening a corporate account here.

Opening an account usually takes 2-3 days, but can be as quick as one day, for companies with simple structures and all their documentation ready.

As a regulated payment institution, it is our obligation to comply with all requirements for personal data protection of its Customers as described by the EU General Data Protection Regulation 2016/679 (“GDPR”) and with Section 94 of the Payment Services Law. The Company has a published Privacy Policy, in accordance with GDPR, which can be accessed on the Company’s website.

With TFI MARKETS, You can open an account for the following types of businesses:

  • Private Limited Company (LTD)
  • Public limited partnership (PLC)
  • Limited liability partnership (LLP)
  • Partnerships (as long as they are registered)
  • Sole traders & freelancers with a registered trade name
  • Funds such as Venture capital funds, UCITS, Credit strategy funds, Provident Funds etc.
  • SPVs (special purposes vehicles), lawyers trust accounts and cooperatives.

If you are not sure about the type of your business please feel free to get in touch and we will be happy to discuss further with you.

You cannot open or operate an account with TFI MARKETS if your company’s business activities relate to the following sectors:

  • Sanctioned persons/entities
  • Clients from/with operations in countries included in the Company’s Block List, as this is updated from time to time
  • Persons/Entities with known convictions for Money laundering/Terrorist Financing
  • Unregulated Online Betting/casinos
  • Cryptocurrencies firms
  • Binary options
  • Arms dealing
  • Non-profit organizations
  • Financial or insurance services or other services requiring a license, without a license or supervision by a regulatory authority
  • Shell banks
  • Shell companies
  • Adult sites/services

Accounts

TFI offers free multicurrency accounts that allow you to collect and pay in any currency with a unique IBAN on your company’s name.

TFI allows users to check and export your account statements anytime from your TFI online portal. There are no limits on how many transactions can be exported. On Reports tap you may export your transactions in various formats. The file includes information like transaction numbers, amount, value date, beneficiary name etc.

You can generate reports regarding your transactions and payments’ history via TFI online portal in various formats, such as excel, csv, pdf etc. To do that via our online portal, just select the Tab ‘Reports’.

No, TFI does not charge any fees for the account or maintenance of your account.

Given that written authorization is granted by your company’s directors, any person stated, can have specific access to your account.

Online Portal & Settings

TFI online portal is web-based and is fully operational on Google Chrome, Firefox, and Microsoft Edge Internet Browsers.

If you forgot your User ID and/or PIN, your Reset Pin must be confirmed over the phone with our Support Team along with other personal data.
If you forgot/lost your Reset Pin, please contact our Support team to help you how to receive another one.
For security reasons, in case you lost any of your credentials, please contact immediately the Support team at (+357) 22 749 800.

Your Reset Pin along with other personal data must be confirmed over the phone with our Support Team.

If the mobile number that is connected with your personal User ID has changed, please contact our Support Team at (+357) 22 749 800. to guide you with the process.

You should contact our Support Team to provide you the required documentation based on your request.

TFI Portal allows users to create, modify and delete Beneficiary templates from the ‘Instructions’ Tab.

You can trade via TFI online portal from 8:00 – 23:59 (GMT+3)

International Currency Payments

Simply by login to your Portal, you are able to lock the currency exchange rate at that time!

No need to have funds available to your account, we give our clients the ability to take advantage of the live exchange rates, book the rate any time, and send the funds to credit their account, the next working day.

With TFI online portal, you can pay your suppliers abroad and in their local currency on time, avoiding delays and extra costs. With an experienced Support and Back office team, we make sure that your payment is processed on time and you receive a SWIFT notification/confirmation for your records.

Payments are sent in the name of your company thus making it easy for your beneficiaries to trace them.

Sending a payment is easy:
Go to Single currency Payment > enter the amount you will like to send > complete the beneficiary details and approve the payment.

Once the payment is approved by your authorized users, and if your account balance is sufficient, we will process the payment the same day and you will receive a SWIFT notification for your records.

Checking your account balances is easy.

Simply login to your TFI Portal and choose Accounts. From Accounts you can monitor your account Balances in different Currencies and you can also extract detailed information on Incoming and Outgoing funds.

An important Note: Please note that TFI does not charge any extra fees for the incoming funds. We will credit the full amount we receive to your account.

You can always know the status of your payment from your Activity tab.
Check out your Payment Status. Here you can also find your transaction confirmation, any Uploaded documents and the Swift confirmation.

You can upload any supporting documentation via your TFI online portal before submitting your payment instructions, by clicking at the ‘Attachments’ sign.

Type of files accepted: pdf, excel, word, png, jpg, up to 10MB.

The cut-off time of payment is the latest time where TFI accepts and affects payment orders to and from customers. The cut-off time can vary depending on the payment type and the currency involved.

TFI Markets always seeks to offer the best and the latest cut-off times possible for its cross-border payment products to make our customers benefit from faster and efficient cross-border payments.

Cut-off times differ depending on the payment’s currency. You can find our payments’ cut-off times here.

Via TFI Online portal, your transaction receipt is uploaded at the ‘Activity tab on the related transaction.
Moreover, after the execution of your transaction, official confirmation will be always sent to your registered email(s).

Swift confirmations are always sent by email to your registered email(s) upon execution of the payment by TFI. Additionally, you can always find your swift confirmations online under the ‘Activity’ tab’.

You cannot cancel your transaction after booking a rate. In case you don’t need the transaction, please contact the Support Team the soonest to provide alternative solutions.

In case the payment is not yet processed, then you can ask for the cancellation of the payment instructions and provide new instructions afterward.

If the payment has been processed by TFI, then you can request for a cancelation of the payment.

TFI will send a cancelation request to the beneficiary bank and ask for the funds to be returned back. It might take a few days to credit your funds back to your account and sometimes intermediary bank charges might apply.
If your payment has already been credited to the beneficiary’s account, TFI can request for ‘return of funds’, but the beneficiary will have to agree to release funds back to you.

If you noticed that you have submitted the wrong payment instructions, then you should contact us as soon as possible in order to proceed with the relevant amendment. Depending on the correction, we will proceed with either an ‘amendment’ or a ‘recall/cancelation’. Intermediary bank charges might apply.

General Info

Execution of transactions and payments are always faster when submitted online.

Our Support Team is available daily to receive your inquiries via phone or email. You can contact us at (+357) 22749800 or support@tfimarkets.com.

Customer Support team is available Monday-Friday between 08:00-18:00 GMT+3

You can fund your account via a bank wire transfer. You can always request from Support Team to confirm your unique IBAN details with TFI Markets.

TFI does not charge a fee for incoming funds. Your account will be credited with the received amount.

You can receive payments from clients and approved counterparties. In order to be able to accept funds from a 3rd party we will request to provide us with the relevant invoices for the incoming funds.

No, TFI doesn’t offer credit or debit cards.

Your payment will generally reach the Beneficiary within 1 day, however, this can vary according to the payment’s currency and the beneficiary’s bank.

You must always provide correct payment instructions for your payments. Beneficiary’s details such as Beneficiary’s account name, IBAN/account number, address, country, and beneficiary’s bank details such as swift code and bank country are usually requested. For payments in specific currencies, more details might be requested.

We strongly suggest checking thoroughly your instructions before submitting them. Providing wrong details will cause delays to the payment process and in some cases, charges might be applied.

You can request an official investigation to track the payment. Investigation charges from intermediary banks might apply.