Ebury can provide trade finance loans under the CBILS - click here to find out more

Funding a trade on Ebury Online is now easier than ever

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23 July 2020

Written by
Harry Dodd-Noble

Ebury is pleased to announce improvements to its Ebury Online platform (EBO) making funding a trade even smoother and quicker than before.

U
sers can now authorise their bank to transfer funds to Ebury using Ebury Online. This means clients can now complete the steps of funding a trade quicker than previously whilst safe in the knowledge the process is highly secure. Using this functionality the details of the transfer (amount, reference, bank details etc.) are sent to the client’s bank via our trusted Payment Initiation Service Provider (PISP) partner. So all a user needs to do is select their bank, pass through authentication and security then confirm the details of the transaction. Simple.

How does it work?

When a qualifying FX trade* is booked using Ebury Online and the “Start Now” button is selected, within the Transfer Details” section, a list of banks will appear to choose from.

After selecting the required bank users will be securely transferred to their online banking platform where they can authorise the fund transfer after completing the standard authentication and security procedures.
Users do not have to enter any details of the payment. Ebury Online passes the relevant information to the bank via our PISP so it can be auto-populated.

Please note: this is not a Direct Debit mandate. You will complete this process for each transaction.

Security

Ebury uses an industry leading PISP to manage the connection with the user’s bank. Client’s credentials are never uploaded to our system but just passed directly to their bank using SSL (HTTPS) and Public Key Infrastructure authentication (PKI) keeping their bank firmly in control of any transactions and enabling users to make payments quickly and securely.

Get in touch

If you have any issues with this feature please contact your Relationship Manager or email info@ebury.com. For more information visit our FAQs page.

*Availability criteria:
The functionality is available within the following criteria:
– Booking a spot trade with a maximum of £250,000 selling EUR, GBP or PLN.
– You are based in the United Kingdom, Germany or Poland

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