For each FX transaction, your designated Relationship Manager will be in touch with you to secure the best spot rate obtainable from our partners.
We do not currently accept cheque deposits. However, we are looking at smart ways to process cheques, like an image clearing system which allows cheques to be deposited straight through your phone.
Internal transfer to another ACBM account is processed immediately. SWIFT transfers usually take up to 5 working days, depending on the corresponding banks.
The most common reasons for a failed transfer are either there are insufficient funds in your account, the purpose is unclear, or the recipient details are incorrect. It is important that you always double check the recipient details and ensure the purpose of the transfer is in line with the information previously provided to us.
ACBM offers the service of same day processing of payments submitted after cut-off time. However, there are applicable charges for this service. If this need arises, please immediately contact the support team.
The cut off time for submitting your payments in order to allow same day processing is 11 am GMT+4.
A user manual is provided to all our onboarded clients, which will take the users through the process of using our platforms, including transfer of funds.
ACBM works with external regulated custodian financial institutions who keep custody of our clients’ funds. Only transactions processed by our clients can be effected in the clients’ accounts. ACBM has no access nor right to process any transactions on behalf of the clients on their accounts, unless authorized. The clients’ funds are also segregated from ACBM’s internal funds.
You are required to keep a minimum balance of $10,000 at all times in your account.
Once you have completed the onboarding process and your application has been approved, you will be provided with a login and password as well as your account details and IBAN number. You can then use those details to make a transfer to your ACBM account from your existing bank account or other source disclosed during the onboarding process.