Help - FAQ – Debit/Credit Cards

Find answers to your questions about GFT's credit and debit card procedures.

Deposit funds with a credit/debit card >>

Which credit/debit cards does GFT accept?
Which credit/debit cards does GFT not accept?
Which currencies are accepted by GFT?
May GFT accept credit/debit card deposits over the phone?
Can I pay in a currency other than my GFT account base currency?
How much can I fund at one time?
How long will it take for a credit/debit card deposit to appear in my trading account?
Is my credit/debit card information secure?
Will I receive a receipt of my transaction?
What is the withdrawal procedure when an account is funded by credit card?
What are reasons a credit/debit transaction could be declined?
What documentation may GFT require to allow a customer to deposit with a debit/credit card?

Q. Which credit/debit cards does GFT accept?

A. American Express (USD only), Discover (USD only), Mastercard and Visa. Note: GFT will only accept debit/credit deposits where the name on the account matches the name on the credit/debit card.

Q. Which credit/debit cards does GFT not accept?

GFT cannot receive any payment via a third party. GFT will accept debit/credit deposits only where the name on the account matches the name on the credit/debit card.
No business or corporate debit/credit cards are accepted.
No prepaid credit/debit cards are accepted.
Diners Card

Q. Which currencies are accepted by GFT?

A. AUD, CAD, EUR, GBP, USD. Note: American Express and Discover are accepted in USD only.

Q. May GFT accept credit/debit card deposits over the phone?

A. No. GFT does not accept phone transactions.

Q. Can I pay in a currency other than my GFT account base currency?

A. Yes, although it is recommended that you send the same currency as the base currency of your GFT account. Your bank will often convert your funds for a nominal charge. If you must deposit funds in a currency other than the base currency of your GFT account, GFT will convert the funds to your base currency with a conversion fee charge of up to 3%.

Q. How much can I fund at one time?

A. The minimum deposit for use of our online system is $50 USD (or currency equivalent). The maximum deposit is $25,000 USD (or currency equivalent) per GFT account within thirty (30) calendar days.

Q. How long will it take for a credit/debit card deposit to appear in my trading account?

A. Transactions will be processed within 1-2 business days. However, please note that in some cases, delays in processing may occur.

Q. Is my credit/debit card information secure?

A. Your credit card information is secured by our transaction vendor's encryption technology to ensure that your data is not compromised. So, right from the start, your credit card transactions are protected by the strongest encryption protocol in the industry.

Q. Will I receive a receipt of my transaction?

A. Within minutes of making a deposit, an email containing an MRC transaction number will be sent to the email address submitted on the online deposit form.

Q. What is the withdrawal procedure when an account is funded by credit card?

A. Any amounts deposited by debit/credit card that are withdrawn within 60 days of the deposit date will only be paid by refunding the debit/credit card. After 60 days, any withdrawals will only be paid by check (USD only) or wire.

Q. What are reasons a credit/debit transaction could be declined?

Address differentiation. Address on credit/debit card statement does not match the address submitted on the transaction.
Credit/debit card limit. A credit/debit card bank has the ability to red flag large transaction amounts to prevent fraudulent charges.
Wrong security code. Issuer's security card code does not match the card code submitted on the transaction.
Transaction flagged a cash transaction. GFT has all credit/debit card merchants set up under MCC code number 6211 for purchases. You may inform your card provider of the MCC code number.

Q. What documentation may GFT require to allow a customer to deposit with a
debit/credit card?

A. Customers funding with a debit/credit card billed to a non-US address or customers whose debit/credit card address is different than the current address on file at GFT may, at the discretion of GFT, be required to provide a copy of their debit/credit card and/or statement. The documentation can be either faxed to 616-974-3682 or emailed to customerdeposits@gftforex.com. Before faxing or emailing either of these documents, please black out all but the last 4 digits of your account number (i.e. XXXX-XXXX-XXXX-0000). Statements or copies of debit/credit cards received without the account number blacked out will be destroyed immediately. Deposits will not be applied to the customer’s account until all documents have been received when requested.