How do I change/cancel my email address, password, phone number, address, or authorized persons?
For your utmost security it is necessary that you submit your change request by completing the Change Request Form (available HERE
), which you can send by post or courier to the mailing address of AKCENTA CZ, Nerudova 1361/31, 500 02 Hradec Králové. The completed form must be signed by a person authorized to negotiate on behalf of your company. We will carry out the requested change immediately after receiving this form.
How can I add a new Authorized Person to an existing Framework Agreement?
To add other authorized persons, please contact our trading partner or the AKCENTA CZ infoline at 498 777 770 in order to set up an appointment. Our trading partner will visit you for a signature on the Client Authorized Persons
Lost the password to your Internal Payment Account?
We will generate a new password for you and send it to you via registered mail upon request. Please proceed as you would with a change request; that is, by completing and submitting a Change Request Form
How can I cancel/void the bank account listed in my Framework Agreement?
How can I add a new bank account/banking information for trading?
If you wish to enter a new bank account/new banking information, please use the New client's bank connection Form
. You can send this form to the mailing address of AKCENTA CZ, Nerudova 1361/31, 500 02 Hradec Králové. The completed form must be signed by a person authorized to represent the company. Immediately after receiving your form, we will carry out the requested changes.
How can I add/change a partner using OLB?
If you wish to add a partner for payments using OLB, simply follow the directions provided by the OLB itself. If you require assistance, you can contact our Infoline
, where we can advise you on the proper entry process. If you wish to change the information for an existing partner, please enter the partner again and write "change to existing partner" in the notes.
How can I contact the nearest AKCENTA trading partner in my region?
If you are not currently in the care of one of our trading partners, contact our Infoline at +420 498 777 770 and we will recommend you a trading partner active in your region. Our trading partners are ready to assist you.
Where can I check to see whether the trading partner I am communicating with is indeed your trading partner and can be entrusted with my personal and company information?
You can find a list of AKCENTA CZ trading partners on the web pages of the Czech National Bank
, where they are all required to be registered.
Can I send a payment via your company to so-called "high-risk countries" such as Iran?
AKCENTA CZ proceeds in the war against money laundering in full conformity with Act No. 253/2008 Coll. on certain measures against the legalization of profits from criminal activity and financing terrorism and in accordance with Act No. 69/2006 Coll., on international sanctions. For this reason the company does not carry out financial transactions directed toward countries with entirely insufficient AML/CFT measures. North Korea and Iran are included among such countries. Other high-risk countries to which our company does not provide financial transactions include Cuba , Myanmar, Syria, Sudan, and Libya. AKCENTA CZ fully respects the recommendations of the Financial Analytical Office and maintains maximum caution when entering into commercial relationships and administering payment systems with persons and financial institutions of these countries. Our company refuses to meet client requests to complete transactions with these countries as a matter of internal policy. AKCENTA CZ acts in accordance with the same regulations in regard to all subjects identified within the EU as high-risk or who have been designated as such by government institutions, etc.
How are client deposits insured? Is AKCENTA CZ insured?
Accounts maintained by AKCENTA CZ as a payment institution and securities trader at banks, savings and loans institutions, and the branches of international banks that have been designated as special accounts are subject to insurance from the Deposit Insurance Fund (FPV). You can find out more in the Regulation
Where can I verify that your permits are valid?
The licenses entitling us to conduct our business are available here
. The list of licensed subjects can also be found on the website of the Czech National Bank in the Supervision, Regulation section.
How can I make a complaint or submit a claim?
How is it possible that you can offer cheaper exchange rates than the banks?
We are able to achieve better prices by specializing in services associated with foreign payment systems and the optimization of operating costs. Our offering is based on the most effective foundation while observing all security regulations.
You present information about the foreign exchange market on your website. Can I receive this information by email?
You most certainly can. Simply enter your contact information into our online form – a request to receive email messages, on the basis of which we will add you to a list of recipients for regular delivery of exchange rate trends and current market news.
How do I start trading with you?
To begin our partnership, you will need to sign a Framework Agreement (see the How to trade
section). You can then make trades either by phone with our traders or electronically using the OLB online system
Find out more about trading via the internet in the OLB
Are there any limits on the volume I can sell or the currency I can trade?
We have no limits on volume; you can exchange funds in any amount. We trade with all standard currencies in our market (EUR, USD, GBP, CHF, PLN, CAD, DKK, NOK, SEK, AUD, JPY, HUF, RON, RUB, CNY, TRY, HRK). Of course, we can also make forex trades that do not involve CZK (e.g. purchasing EUR for USD, etc.)
What is SEPA/SEPA payment?
SEPA/SEPA payment is any payment that meets the following criteria:
- payment in EUR within the EEA (EU+LICHT.+ICELANT+NORWAY)
- must contain recipient IBAN
- must contain recipient bank SWIFT code
- fees only with SHA fee arrangement
- no special processing requests allowed (e.g. URGENT)
How do the fees work, do I pay something for carrying out a forex transaction?
You pay no fee for buying or selling foreign currency; we exchange currency for you entirely free of charge. At the same time we offer you attractive fees for other services, a number of which we also offer entirely free of charge. You can find out more about fees in the services pricelist
How can I find out which bank to send my funds to? You have a number of banks.
The larger number of banks enable us to offer you better service. Conversions within these banks (KB, ČS, MONETA Money Bank, ING Bank, FIO bank, Raiffeisenbank) doesn´t burden you with fees. With each specific trade you will receive an instruction from our trading department stated in the box at the confirmation of a given trade that states the bank and account number where you are to send your funds.
Why do I have to pay first? What is my guarantee that you will transfer my money back?
AKCENTA CZ is subject to the supervision of the Czech National Bank and will in no circumstances tolerate any fraudulent actions. Clients always have certainty that the requested payment service shall be provided to them. The entire process is set up in a completely straightforward way and defends against fraudulent actions both by clients and by AKCENTA CZ. The accounts to which the funds from the individual trades are collected are subject to special handling and are not connected with the assets of the company.
How does the entire trade take place?
When you place your phone call to us in which you agree with the trader on the exchange rate and the parameters of the trade, you will immediately receive the "Confirmation of Payment Transaction with Currency Exchange" confirming the agreed trade. On the Confirmation the bank account and variable symbol are stated where you will send your funds. After entering the Instruction for Outgoing Forex Payment Transaction on your part and the registration of the funds to the designated account, the settlement of the trade will be completed on the part of AKCENTA CZ a.s., i.e. they will transfer the funds to your account or the account of the partner you have designated in your Instruction. You can find a detailed guide here
We receive Euros from abroad for our exports, and we pay other suppliers in Euros as well. Can we take advantage of your low fees for international transfers?
Of course you can. For these cases we offer the Internal Payment Account (IPA).
You can have your partners send Euros to your IPA. Then you can send them on to other partners with a Payment Order from your IPA. Internal Payment Accounts serve for currency exchanges, and do not replace a bank account, but you can still use your IPA to take advantage of the benefits of low-cost payment systems offered by AKCENTA CZ a.s. Learn more information about the IPA by phone at +420 498 777 770.
What is an urgent payment?
An urgent payment is an expedited international payment, i.e. a payment that leaves the bank of the payer with a date of payment (settlement) of T+0 (the day of submitting the Instruction for Outgoing Forex Payment Transaction). The registering of the payment to the recipient bank depends on the clearing date of the bank in question. The Instruction for Outgoing Forex Payment Transaction must be submitted for payments in EUR, USD, GBP and CAD by 1:30 p.m.; for other currencies by 9:30 a.m. A condition of payment is the prior receipt of funds to the AKCENTA CZ account.
What is an express payment?
An express payment is an expedited domestic payment in CZK, which means that the payment is recorded to the bank of the recipient with a settlement date of T+0 (on the date of submitting the Instruction for Express Payment). The instructions for the outgoing payment transaction must be submitted by 11:30 a.m. A condition of payment is the prior receipt of funds to the AKCENTA CZ account.
How much time does AKCENTA CZ take to process payments?
Cut of time for precessing of payments in AKCENTA CZ:
- SEPA / SEPA payment – by 4:00 p.m.
- Urgent payments in:
- in EUR, USD, GBP and CAD – by 1:30 p.m.
- other - by 9.30 a.m.
- Other outgoing payments:
- in EUR, USD, GBP, CAD and CHF – by 4:00 p.m.
- in USD – by 3:00 p.m.
- other – by 4:00 p.m.
- Express payments in CZK and PLN – by 12:00 p.m.
Applies in the case of trades executed at T+0.
A condition of payment is the prior receipt of funds to the AKCENTA CZ account.
What are exotic currencies?
Exotic currencies: these are currencies that are not typically traded on the interbank market and therefore have limited liquidity (VND, INR, BHD, etc.). Only outgoing payments may be carried out in these currencies.
What does IBAN mean?
An International Bank Account Number (IBAN) is an international bank account number enabling you to carry out payments to and from abroad. It is defined by the ISO 13616 standard. It is composed of the Country Number + International Code. In the EU this number enables the same principle of payment as transfer of Czech crowns throughout the Czech Republic, and all EU nations are required to use this IBAN as of 1 January 2003.
Actual number: max. 16 characters, e.g. 19-123456789, Bank number: bank code, e.g. 0100, Control number: for security reasons, e.g. AA, Country code: code according to ISO, e.g. CZ.
The entire number may contain up to 34 characters; the Czech Republic uses a maximum of 24 characters.
Sample IBAN code: CZAA01000000190123456789
Does AKCENTA CZ accept cash deposits to its accounts?
It is not our strategy to accept deposits in cash. AKCENTA CZ is required to prove to auditing bodies the origin of funds deposited into its accounts in cash. The fact that the bank carries out inspection of a client upon receiving cash does not release AKCENTA CZ from an obligation to check the client and determine the actual owner of the funds.
A fee is charged for Client cash deposits according to the valid Pricelist.
If AKCENTA CZ has any doubts about the origin of the funds, they will be entitled to refuse to make the trade. They will also inform the Financial Analysis Department of the Ministry of Finance.
If the Client deposits cash in an amount greater than EUR 10,000 or its equivalent in a foreign currency (in keeping with §28 of Act No. 253/2008), the Company shall always request evidence of the origin of the funds from the client (e.g. invoice, affidavit, etc.). The Company will always request evidence of the origin of the funds in the event that the deposited amount is noticeably similar to the limit of EUR 10,000 or has beenintentionally divided so as to bypass this obligation. The Company shall also be entitled to request evidence of the origin of funds in cases of small but frequent deposits.
Why do I need LEI and what purpose does it serve?
Under Regulation EMIR (European Parliament and Council (EU) no. 648/2012 on OTC derivatives, counterparties and trade repositories) one is obliged to have LEI. EMIR makes it obligatory for all financial and non-financial counterparties to report all closed derivate transactions and any possible changes to trade repositories (ROU). The report must be submitted no later than the following work day after the transactions was closed. In order to report it is essential that each legal entity is assigned a so-called LEI, which identifies the given entity. This is a unique 20 digit alphanumeric identifier for legal entities, which enables the correct reporting of derivative trades. I tis assigned according to the ISO 17442 standard „Financialo Services – Legal Entity Identifier (LEI)“. Each LEI is assigned to only one entity Worldwide.
We will be happy to assist you at our Infoline by phone at +420 498 777 770 or via email at firstname.lastname@example.org