How can I transfer money with CFPS?
Currently there are 3 ways to send money using your CFPS app:
- Transfers between your CFPS accounts
You can send money from your account to your virtual card and back free of charge. These transfers are usually delivered instantly. To initiate a transfer, tap “Send funds” on the Home screen, choose the Between own accounts option, and follow the instructions.
- SEPA transfers
These are cross-border euro transfers available in the European Economic Area (EEA) plus Monaco, San Marino, and Switzerland. To make a SEPA transfer, tap “Send funds” on the Home screen, choose the Within Europe option, and follow the instructions.
- SWIFT transfers
CFPS enables outgoing and incoming international money transfers using the SWIFT network. To make a SWIFT transfer, tap “Send funds” on the Home screen, select the Internationally option, and follow the instructions.
How long do money transfers take?
Transfers between your accounts are typically instant, but additional safety measures may lead to some delays. We process these transfers as quickly as possible to make sure our app and your money are safe and secure.
SEPA transfers usually take one business day (except weekends and holidays), but the timing may vary depending on when exactly the transfer is made. While we currently don’t support instant SEPA transfers, your money still lands in the recipient’s account within at most two business days.
SWIFT transfers can take from 3 to 5 business days to land in the recipient’s account because they are not direct transfers between banks or electronic money institutions like SEPA transfers. SWIFT transfers are sent from one intermediary bank to another until they reach the recipient bank or electronic money institution.
Can I transfer money to my CFPS account if I don’t have a euro account?
Sure! You can transfer money in a non-euro currency to your CFPS account. Your non-euro account issuing bank will offer you the exchange rate depending on the currency and the time when the conversion takes place.
Currently we support the following transfers methods:
- SEPA transfers in euro;
- Multi-currency SWIFT transfers.
Are there any limits on domestic and international transfers?
No, we don’t set any limits on the amounts of Payments and Global Transfers.