Is XTransfer's risk management more stringent than that of traditional banks?

XTransfer maintains strict risk management standards to ensure the long-term stability and availability of customers' accounts.

In fact, traditional banks are also tightening their risk policies and asking for more transaction information. Banks will even close accounts to avoid high risks, which means customers can no longer access bank services even if they are willing to submit extra materials.

In addition, XTransfer offers services across the entire fund flow, which is a big step from traditional banks. We will assist you with compliant FX reporting so that your payment can reach its destination safely, easily and quickly. The process is 100% online to free you from bank queues and lengthy paperwork. For instance, traditional banks do not support safe, compliant and convenient FX reporting and payment to mainland China, whereas XTransfer can submit full transaction information for FX reporting to the Chinese regulators on your behalf so that you can send CNY to Mainland accounts.

You may find that most payments do not require supplementary materials while some do. This is because XTransfer monitors the entire trading process with AI technologies. Our system screens out risky transactions and send them to our Risk & Compliance team for manual review. Therefore, there are multiple lines of defense against money laundering. The more you use XTransfer, the more trading and credit information we have about you in our system. A more complete risk profile lowers the possibility of manual intervention. In other words, the more you use, the better your experience!

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