Opening account
To open an account a basic set of your documents is required:
At the moment, we are providing our services exclusively to legal residents of the European Economic Area (EEA). You can become a CFS client if you are a resident of the following countries:
We understand the importance of expanding our reach and we are actively working on bringing our services to the rest of the countries. Keep an eye out for updates as we strive to make the financial management process easier for all people.
Download the app from AppStore or Google Play. Select the button" Open free account" and follow the steps.
Since we made the application procedure simple and easy, your registration might be declined due to the following reasons:
If you followed all the instructions but your registration still got declined, you can contact our support team. CFPS has the right not to disclose the reason for the refusal to open an account.
The maximum verification period is 48 hours. We are doing our best to verify your identity as fast as possible, however, if verification takes much time, you can contact our support team
KYC (Know Your Customer) is a process used by financial institutions and fintech companies to verify the identity of their customers and assess potential risks of fraud or money laundering.
Proof of address refers to any document that verifies your current legal place of living. For this you can use one of these documents:
If your proof of address is valid and you followed all the instructions, but your registration still got declined, you can contact our support team at support@cfps.io. CFPS has the right not to disclose the reason for the refusal to open an account.
Account usage
Go to the Profile section and select Personal Data. Choose the contact you need to change and follow the instructions.
Please contact our support team at support@cfs.io. To contact support via mobile application select "Can't find what you are looking for?" from the FAQ section.
Please contact our support team at support@cfs.io. To contact support via mobile application select "Can't find what you are looking for?" from the FAQ section.
Go to the Profile section and select Settings. Select Change PIN and follow the instructions
Please contact our support team at support@cfs.io. To contact support via mobile application select "Can't find what you are looking for?" from the FAQ section.
IBAN Services are provided by Monetley, a company registered with the FCA in England and Wales as an Electronic Money Institution (EMI) (FCA Registration Number: 900921).
Please note that depending on the type of transaction and the sender's bank, the terms for transferring money may be different. Transactions between CFS account holders usually take up to 2 minutes. Transactions between users of different banks might take up to one day. If your operation is not in the transaction history, please contact the support team at support@cfs.io
The cost depends on the withdrawal amount. All the commissions can be found in the section Profile Tariffs
Fees and limits
You can find out all the fees in the section Profile Tariff
Security
At CFS understand that trust is essential when it comes to handling your money. We take the responsibility of managing your funds very seriously, and we want to assure you that your money is safe with us.
CFS is a PCI-DSS-certified, licensed, and regulated financial institution that follows strict industry standards and regulations. We handle all the official required licenses and documents issued in Cyprus. We use advanced encryption and security measures to protect your personal and financial information, and our systems undergo regular security checks and audits to ensure they are up-to-date and secure.
Additionally, we are committed to transparency and keeping you informed about your account activity. You will have access to your account information at any time, and we will promptly notify you of any changes or suspicious activity.
CFS is constantly controlling suspicious activities, but if you noticed transactions that were not done by you or any private information leaks, you need to contact our support team at support@cfs.io immediately.
Please contact our support team at support@cfs.io
Payments
The first thing to do is to determine if the timeframe has been exceeded.
The time it takes for your transfer to reach your account depends on the currency you're receiving and the country which the money was sent from. These times can differ depending on the currency sent.
If the transfer time exceeded the limit, please contact our support team at support@cfs.io
To do that, you will need the correct account details. For some currencies, you have two types of details, Domestic and International. To make your transfers in a more efficient way you need to consider how they will be processed and when to use each of them.
Domestic (local) should be used when you want to receive money from a bank where the national currency is the same as the one selected in the steps before. International (cross-border), should be used in all other cases.
For example, If you want to receive GBP from a bank located in the United Kingdom, you should use your Local Account Number and Sort Code for faster transfers.
With these details, you can now go to your bank's website or app, and initiate a transfer, if you're having issues making the transfer from your bank's side, please contact customer support from your bank for help.
The time it takes to transfer funds to your CFS account will depend on the region where you are located. You can refer to the following time frames:
When transferring funds, it is important to take into account that sending banks may not work on holidays and weekends, so the waiting time may increase. Also, the delivery time may be affected by incorrectly specified details and various checks by the recipient banks.
You can easily send money to the holders of bank accounts in these countries:
We are launching the product in all the other countries soon, stay tuned for the updates!
Deposits
Verifying your deposit card lets us know that the card you used to add money to your account is your own. We advise all users to do this in the app to help ensure your experience is as frictionless as possible.
