FAQ
Questions ? Visit our frequently asked questions.
Security
FinXtra has partnered with Ebury Canada to offer payments and foreign exchange solutions. Ebury Canada is registered and regulated by Fintrac. All clients funds are held with Ebury Canada in line with regulatory standards.
Are there any account opening fees?
- Opening an account is completely free, and you can have full access to our online platform.
Will the solution conflict with my existing banking relationships?
- No, our credit facility will not conflict with your current banking and financial relationships.
What currencies are available with FinXtra?
- You have access to over 130 currencies with your account. For more information on available currencies, please contact us.
How can we execute transactions with FinXtra?
By using secure global banking partner accounts, clients can transfer funds online. FinXtra clients have the option to send a bill payment, initiate an electronic funds transfer, make a bank wire transfer, or set up direct debit for funds to be withdrawn upon transaction approval.
Please note that we do not accept checks or cash.
What is a forward contract?
- A forward contract is a form of hedging. It allows you to lock in a rate for up to five years. This helps to avoid currency risk and provides certainty about your profit margin.
What are currency accounts?
- Currency accounts are accounts issued by partners, allowing clients to collect funds and initiate outgoing payments. They can be held in the client’s name, and other banks/financial institutions can make payments to them.
