FAQs directory
What does a pending deposit mean?
There is a problem with your transfer or you transferred the funds without a reference.
What is a foreign exchange spot transaction?
A foreign exchange spot transaction (or spot trade) is an agreement to buy/sell a particular currency pairing at the current market rate.
What is a scheduled exchange?
All of our scheduled exchanges are required to be pre-funded in order to achieve the mid-market rate.
What is APP fraud and what measures are in place to prevent it?
Authorised Push Payment (APP) fraud is where individuals are victims of a scam due to fraudsters tricking them into sending money. The UK Financial Conduct Authority recently introduced new rules aimed at further protecting from this type of fraud, which is explained in this article.
What is One Time Password (OTP)?
We use OTP at Freemarket for an added layer of security.
What is the Confirmation of Payee (CoP)?
Confirmation of Payee (CoP) is a name checking service for UK-based payment.
What is the difference between local and international payments?
We've broken down the difference between local and international payments.
What is your risk appetite?
An outline of industries and business types that are not supported as well as further information on risk assessments for certain industry verticals.
What kind of documents should I submit for review with compliance?
Here’s a list of documents that are deemed acceptable for review.
What kind of payments can I make?
There are a number of different payment schemes and types of payments that you can make.
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