Question 1

Does it cost me to have an account at Freemarket?

Accepted Answer

Although we make every attempt to render the registration process as simple as possible, it may take up to 60 days before your Freemarket account is completely operational and you are able to utilise it to its maximum. This means that we want to correctly set up your account with our partner banks and aggregate banking services that you receive.

It costs nothing to open an account with us, but we reserve the right to do so in accordance with our terms and conditions, with a 60-day notice period for consumers and 30 days for businesses.

If you click here to contact a member of our team and start your adventure with B2B cross-border payments, and we'll email you a link to register for an account with us.

Question 2

What are the steps to register for an account with you?

Accepted Answer

Our registration process is straightforward, and we endeavour to complete all applications as soon as possible. Your account with us becomes active once we have concluded all required compliance checks, which we will notify you about.

In order to complete certain checks, we may first ask you for some basic information. You must provide information about the business you are applying for an account with in order to create an account. When registering for an account, it would be simpler and easier if you have all the information in one area since this would make the application process go more smoothly.

To expedite the process, we've given you the option and availability to search for registered firms. To activate this service, type two characters then it will appear. If you are fully regulated, submit your personal information together with any supporting documents so that our systems can cross-reference it.

You must then finish the "transaction profile" next. This aids our compliance team in understanding the nature and regularity of your company transactions for the purposes of KYC. Your assigned Relationship Manager is also given access to these insights, which enables them to provide you with the best possible support.

After completing the transaction profile, you will be prompted to provide the primary account user's personal information (this could be you or another individual at the company).

The next question will ask you to verify that you're the sole director of the company you are registering on behalf of, an authorised agent or employee, or a company director. If the director information you give does not match what is stated in the company's legal documents, the registration may be delayed, and your account may potentially be refused.

You must provide all the information about business owners or individuals who hold a controlling stake in the company in the section that follows. Please make sure that the information is accurate because you can add numerous owners or persons with control.

After providing the essential account information, you will be asked to submit additional documentation so that we can confirm your identity for AML and KYC purposes. Please be advised that expired or invalid forms of identification will be rejected, and your account won't be created until the proper documentation has been provided. The full passport number (with the chevrons) or the licence ID on the driver's licence must be uploaded after an image of your passport or driver's licence.

After you have accepted our terms and conditions and verified that the information you have supplied is accurate, you are complete. Your browser will send you to a confirmation page that includes our contact information in case you need to get in touch with us. If there are any problems or if we need further information, a Relationship Manager will reach out to you.

You will receive an email notifying you that your account has been created once our requirements have been satisfied and all required documentation has been submitted. At that point, you may begin to make instant payments.

Question 3

How long does it take to register?

Accepted Answer

The registration process can vary per account, after we will conduct our mandatory compliance checks, once satisfied, an account can be created on the platform for you to use.

Question 4

How can I fill out an application to create an account on another company's behalf?

Accepted Answer

A submission for a company can be quick and easy. You may complete the entire registration process online. Fill out the essential forms and submit any necessary supporting documentation. When your application has been received, please email us at hello@wearefreemarket.com, and a Relationship Manager will get in touch with you to help with any onboarding needs.

If we need additional information to support your application, you will be contacted by email.

Question 5

Can I apply for a Freemarket account?

Accepted Answer

You can create an account with us if you're an organisation. Our registration procedure is simple, and we make every effort to finish applications quickly and activate your account as soon as possible. With Freemarket, you can settle and reconcile funds more quickly and in real-time, access new markets and currencies, and have trust in your banking relationships.

For more information on our registration process, please click here.

When clients need to utilise the platform, we want to make sure that every account is configured for international payments. When your account is live and has cleared all compliance checks, we'll let you know.

Question 6

Can I register multiple accounts for one user?

Accepted Answer

We've created an easy-to-follow step-by-step guide on how a single user can register and access multiple accounts using the same login information.

STEP 1: We will email you a unique registration URL link for each and every company you are looking to register to your login email address and account. You will be prompted to log in once you click each link.

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STEP 2: ** You will be instantly taken to a 'Verify Account' screen where you will be asked to enter the company details and information needed in five easy steps for the new business registration.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/fnDSsgZVaa/resources/y7NB3J5108/Multiple%20Accounts%20Screenshot%202.PNG (Multiple Accounts Screenshot 2.PNG)

STEP 3: Once you've completed registering your companies, you can navigate to your main Dashboard on your account and select the 'Your Registrations' option where you can view the status of any outstanding registrations.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/fnDSsgZVaa/resources/Urhm3yrv4B/Multiple%20Accounts%20Screenshot%203.PNG (Multiple Accounts Screenshot 3.PNG)

STEP 4: Please click the 'Continue Registration' option if you haven't finished the registration process yet. You'll be able to pick up where you left off and continue the application. The registration will appear as pending if it is being reviewed.

https://malcolm-en-gb.s3.eu-west-1.amazonaws.com/instances/fnDSsgZVaa/resources/sjcpL2LewP/Multiple%20Accounts%20Screenshot%204.PNG (Multiple Accounts Screenshot 4.PNG)

You will only be able to keep track of the progress of registrations that you made since registrations are connected to the person who began the process.

Contact support@wearefreemarket.com or your Relationship Manager if you require any more help or have any queries.