Am I able to cancel or get a refund on my transfer?
Once you book a transfer on our platform, the selected Marketplace Payment Partner on our marketplace immediately covers the position by purchasing the exact amount of the particular currency you booked. This happens automatically, at the moment of execution. In this way, we can ensure that the contractual amount of your desired currency will be delivered, as expected, without being at risk of the ups and downs of the currency markets.
If, for whatever reason, you are unable to send funds to settle your transfer then ultimately the deal may have to be reversed. This means our Marketplace Payment Partner will need to sell back the currency that you booked in the open market. If there is a loss when your position is reversed, then you are contractually liable for the loss. If you have booked a deal on the marketplace and you believe you are not able to fulfil your contractual obligations on settlement of the currency contract, please contact your relationship manager to discuss this at the earliest opportunity.