Below are frequently asked questions on funding in
How do I send my funds?
You will receive an email once your order has been matched, and will be able to see the bank details you must initiate the transfer of funds to, to be able settle your order. Midpoint only accepts bank-to-bank transfers, no cash or cheques.
When do I have to fund in by?
The funds need to arrive by the settlement date otherwise you could incur a charge for the late payment.
Can I fund in before I place an order?
Yes, if you know the currency and how much you wish to convert, you can pre-fund before placing an order, this will make the order process faster, as after you have placed an order as we would be able to settle the conversion on the day you choose.
My funds won't arrive on time, what do I do?
Please contact us as soon as possible if you are unable to fund in the full amount to settle your currency order, and we can amend the value date so that your beneficiary receives the payment at a later date.
Where can I send funds from?
The funds must be sent from a bank account in the name of our registered client. The individual's name must be the account holder if it is a Personal account, or the business' name if it is a Business account. We do not accept third-party funding in.
Who is Currencycloud?
Currencycloud is our FCA-authorised payments network partner. Registration number (900199).
What is a Payment Reference Number?
This is an 11-digit numerical sequence and is located at the top left-hand side of your dashboard resembling, '987654-54321'. Your PRN is generated once your account has been authorised and must be entered into the payee's reference field when instructing your bank to send us funds, with no additional information.
This number ensures that your funds are automatically allocated to your Midpoint account. Additional characters added may delay your order as this requires a manual intervention for your funds to be allocated correctly.
Why have less funds arrived than I expected?
On some occasions, the banking network may route funds via a corresponding bank, who may levy a transaction charge resulting in the arrival of short funds. These charges are taken from the sender bank and not Midpoint. This is most common with US Dollar transactions, therefore we advise you to cover these charges if this is a regular occurrence.