Frequently Asked Questions
Find quick answers about our regulation, accounts, and global transfers.
1. Security & Regulation
Q: How are client funds protected?
A: Rise is a regulated Electronic Money Institution (EMI) under the UK's Financial Conduct Authority (FCA). Unlike banks, EMIs must safeguard 100% of client funds in segregated bank accounts, separate from our operational capital. This means your funds are not used for lending, ensuring maximum security.
Q: Is my money covered by the FSCS?
A: While EMIs do not participate in the Financial Services Compensation Scheme (FSCS), the FCA safeguarding rules provide a comparable level of protection by ensuring 100% segregation of funds in regulated institutions. This is a superior protection model for electronic money.
Q: What compliance standards does Rise follow?
A: Rise complies with all UK FCA regulations including AML/KYC (Anti-Money Laundering / Know Your Customer), GDPR (data protection), and GDPR-compliant data retention policies. We conduct ongoing regulatory audits and maintain comprehensive compliance documentation.
2. Corporate Accounts & FX
Q: How many currencies can I hold in my account?
A: Rise offers 38 major and exotic currencies, including GBP, USD, EUR, CHF, AUD, CAD, JPY, SGD, HKD, and many more. You can hold balances in all supported currencies simultaneously in a single integrated account.
Q: How quickly can I initiate a payment?
A: Payments initiated before 2 PM GMT typically settle the same day on SWIFT channels. Faster Payments (GBP-to-GBP) settle within 2 hours. Cross-border SEPA transfers settle within 1-2 business days, depending on receiving bank.
Q: What are the FX rates and spreads?
A: Rise offers institutional-grade FX spreads, typically 0.08%-0.15% on major pairs (GBP/USD, EUR/USD) depending on volume. Exotic pairs range from 0.20%-0.50%. Rates are highly negotiable based on your transaction volume and relationship tier.
3. Payments & Cards
Q: Can I issue corporate cards to my team?
A: Yes. Rise offers instant corporate card issuance with full spending controls, real-time limits, and multi-currency wallets. Cards are linked directly to your Rise treasury with automated expense tracking and reconciliation.
Q: How much does it cost to set up an account?
A: Account setup is completely FREE. There are no monthly fees for maintaining an account. You only pay for transactions (SWIFT, Faster Payments, FX conversions). Pricing is transparent and itemized on every statement.
Q: What payment methods do you support?
A: Rise supports SWIFT (international), Faster Payments (GBP), SEPA (EUR), and proprietary correspondent network channels. We also support bulk payment uploads via API for seamless ERP integration.
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