FAQ

Who can open a Money Service Account with CG Pay Ltd.?

Any individual:

• For travelling purposes
• Emigrating abroad
• Purchasing a property, any other asset or item abroad
• Having income from abroad (investment, pension or salary)
• Studying abroad
• And many more...

Any business entity:

• Doing import and export operations
• Accepting foreign currency for services and goods
• Who is a bureau de change
• Who is a travel agencyies
• Have to paying for services, outsourcing or employees in a foreign currency

How can I use your currency exchange service?

To be able to use CG Pay Ltd. currency exchange service You have to Open Money Service Account.

How can I use your money transfer services?

To be able to use CG Pay Ltd's money transfer services You have to open a Money Service Account.

Can I use my account immediately after setting up a Money Service Account with CG Pay Ltd..?

Clients can open Money Service Account with CG Pay Ltd. online and start to immediately receiveing payments and exchange money.

When can I send payments or withdraw funds from my Money Service Account?

Clients can send payments or withdraw funds from his/her Money Service Account only after being notified by CG Pay Ltd., - that the Money Service Account has been activated.

When is my Money Service Account activated?

The client's Money Service Account is activated immediately after CG Pay Ltd. receives hard copies of all required documents. See Open Account.

How can I speed up the process of Money Service Account activation?

For fast Money Service Account activation, the client should send the first payment to his/her Money Service Account with CG Pay Ltd from his/her money service account with any bank. The name of the Money Service Account with CG Pay Ltd and the name of the money service account from which the payment is made should be the same.

Do I still have to send hard copies of required documents after using the fast Money Service Account activation option?

Yes, the client is still obliged to send hard copies of all required documents within one month to CG Pay Ltd.

What if I fail to send hard copies of documents to CG Pay Ltd's address in time?

If the client fails to send hard copies of the documents in time, CG Pay Ltd will put the client's Money Service Account on hold until the documents are received.

What does "account on hold" mean?

If the status of the account is "on hold", the client can receive payments and exchange money, but is not able to send payments or withdraw funds from his/her Money Service Account with CG Pay Ltd.