The Currenge team are here to help. You can significantly reduce a perceived risk, in a deal with a new supplier, such as Currenge, in several ways.
First, reducing risk is possible by having a conversation or meeting with us. That’s exactly what we’re here for.
You may also get an impression of us, from reviews posted by our customers. Such reviews may be found on the computer screen side, when you google, The Company’s name: Currenge. If you would like so, you will also be able to directly talk with our customers.
You may also check out the possibility that we have mutual acquaintances by viewing the LinkedIn profile of Ehud Ziegelman, the founder and CEO of Currenge.
In addition, before executing your transaction, we usually inform a compliance officer at the bank branch that serves us about the expected execution of your transaction request. In parallel, you would be asked to let a banker at the bank branch that serves you know, about the transaction you intend to conduct with us. Since we serve the majority of our customers’ transactions, through a bank account of ours at the same bank where our customer also has a bank account at, bankers who serve the customer and Currenge, which both work at the same bank, may communicate before your transaction is executed.
Another way of reducing a predicted such risk is made possible by splitting the transaction itself, to several smaller transaction of smaller amounts each, so that the maximum amount at risk itself, at any given moment in time, decreases significantly. Thus, each smaller transaction will be completed by transferring the proceeds to the beneficiary, and there will not be a moment where the entire amount of your original transaction would be at risk. On lots of the transactions in which the beneficiary’s account is in Israel, Currenge fulfils the execution of the transaction, on the same banking business day it begun on.
Splitting a transaction is made possible, when each of its components exceeds $10,000, which is the minimum amount of a transaction enabled by currency trading room serving us. Such split may also be recommended from a financial point of view, so you can reduce a risk that in retrospect it would turn out that you converted on such a specific day where the exchange rate was relatively bad compared to other dates close to it.
Beyond that, you can see Currenge’s license, according to its Israeli company registration number: 515455376, independently, in the Israeli register of authorized financial service providers, which is managed by the Israeli Capital Market Authority, on the website:
License database on the Israeli Capital Market Authority website
Please note, that retrieving information on the Israeli Capital Market Authority website may not work properly, if your browser’s configuration include the disabling of some website functions, as for example a browser called Brave may be set to do.
The significance of having a license from the Israeli Capital Market Authority, in the context of trust, is great. First, obtaining a license is conditional upon our management team waiving confidentiality of their Police criminal record, and a permission for criminal record check by the Israeli Capital Market Authority granted by our management team members.
In addition, the Israeli Capital Market Authority reviews The Company’s procedures, and its compliance with various requirements. For example, a company has a certain positive equity. The Israeli Capital Market Authority also functions as an arbitrator, holding investigating rights, of clients’ complaints regarding license holders, so that if complaints were to arise, they would reach that Israeli Authority, which also has the power to suspend or revoke a financial license it granted. Unlike entities that deal with loans or financial assets management, where problems might surface only after a long period of time, with entities, such as Currenge, that serve a transaction that is completed in a relatively very short time frame, if God forbid there were problems, they would surface very quickly.
Also, the probable is, that if there would have been any flaw in Currenge’s activities, such an event would have been mentioned in media reports, or in a court case. You can search the Internet as well as legal processes databases, and see for yourselves that there was no such one complaint related to Currenge, and that Currenge was not sued in any legal process.
We will be honored to serve you.
The front page of the company’s license looks as in the image below:
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