Who is the "CSANI money transfers" service for

If you have bank accounts in at least two countries and you’d like to transfer your funds from one to another at a low price, then the „CSANI money transfers” are for you. It’s much cheaper than the SWIFT transfers that banks offer. Additionally, if we have an intermediary, that allows withdrawals/payments made into our system via ATMs or cashing counters, working with us in one of these countries, then you’re all set!

How it works

Let’s say you live in Lithuania, you got a bank account there and you plan on transferring the money to Israel, where you also have an account. All you need to do is transfer the money to our bank account in Lithuania and use the panel in the “manage account” tab to order a money withdrawal into your account in Israel. If you’re in one of these countries where we have an intermediary collaborating with us, then instead of using your bank account you can just use their services, an ATM or the cashing counters they will make available to you.
Where money transfers are concerned, we collaborate with banks and self-service kiosks or cashing counters that specialize in financial intermediating. For example: a kiosk where you can make payments or withdrawals to/from your “CSANI money transfers” accounts, are controlled by a Polish operator „MT-Kiosk.com”. The option to make payments or withdrawals is also available in machines and cashing counters operated by our partners in Georgia, Holland, France, Netherlands, Latvia and the Czech Republic.

The origin of the idea

„CSANI money transfers” is a new product introduced by CSANI.com in 2011, inspired by, and shaped after the leader in the field of providers of derivative instruments of the currency market: „Oanda Corporation” (www.oanda.com), that introduced the „FX global transfers” system some time ago.
CSANI.com has been active as a broker of derivative providers in the currency market for several years. Due to provision-less currency conversion of our clients’ money whenever they make withdrawals in other currency then the one they use on their account, we’ve noted a large increase in the number of investment accounts (used not for buying financial instruments, but only for transferring money between their accounts).
To meet our clients’ expectations, we formalized this area of our services, creating the “CSANI money transfers” service in the CSANI platform. This is beneficial for our clients, because now they can create accounts with us even if they’re citizens of countries that have a ban on investing in foreign markets. These clients had no option to open accounts with us before. As long as they limit their actions to money transfers, using our services this way if perfectly legal for them.

What currency can you use for withdrawals and deposits

We support all currencies listed in the “Current Exchange Rates” panel and many more – the ones that are supported by our financial intermediaries. Generally, these are all the currencies that have their values listed in relation to other currencies in the Reuters Eikon(formerly: X-tra) system. We accept payments in all of these currencies listed by the Reuters system, as well as allow withdrawals in them

We don’t set a „base currency” for all the financial accounts we manage. You can make deposits with many different currencies and have your account show just that: several sums of money in all the different currencies you chose to make deposits in. When you’re making a withdrawal in a specific currency, we use the average INTERBANK rates of exchange. Thanks to this policy the CLIENT never loses money on the exchange rates and there’s no need to define something like an “account currency”. When the client is only withdrawing a part of the total amount of his money, the currency used for the exchange is based on the order the money was deposited. For example: if we first deposit 500 USD, then 100 GBP, and then order a withdrawal of 200 EUR, the currency used for the exchange to EUR will be USD. Additionally, if we had a negative EUR balance on the account, it would be first decreased with the withdrawn sum, and only then, if the budget in this currency is not big enough, would it be decreased using the aforementioned 500 USD.

The kiosks collaborating with the CSANI system in the withdrawals and deposits areas usually operate in only one currency. Thus, the kiosks run by the Polish operator MTKiosk can be used to make deposits and withdrawals only in the local currency (PLN).

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How to create an account

To create an account in the “CSANI money transfers” system you need to use the delivered tab, next to the “manage account” panel. We can choose either a traditionally identified account (i.e. one that uses a login and password) or the very comfortable MAC computer address identified account, which uses the address of the computer we will be using to manage the account. There’s no requirement of providing our personal info when we’re setting up the account. The info will assign itself when we make our first money transfer onto one of our accounts.

Starting with the moment of assigning our personal information with the “manage account” panel, or the moment they assign themselves when the first transfer is booked, it’s impossible to make deposits or withdrawals onto a bank account used by any other person than the owner of the account. The only thing to remember when making a deposit onto a CSANI bank account is to put our login into the transfer’s title (if we identify ourselves with a login and a password) or our MAC address (if we use that method). Due to the fact that we don’t make withdrawals onto bank accounts owned by anyone other than our clients, the accounts using MAC address are a very safe and convenient way of transferring money.

How much does it cost

From every withdrawal made to any bank account in the word, we take a provision of 9 EUR (or its equivalent) regardless of the amount transferred. We don’t take provisions for currency exchanges and we don’t have a spread for these. As far as provisions for deposits or withdrawals realized by our intermediaries go, they are usually free, because we’re the ones paying the intermediary for them.

How does this relate to the financial instruments offered previously by CSANI

Despite the introduction of the “CSANI money transfers” service, we try to keep investing in financial instruments as easy as it was before. With each current account used to realize transfers there’s connected a CSANI money account used for assisting transactions on derivative instruments, ready to open.
Starting any of the investment platforms used for transactions in the derivative instruments market of the currency market, a money account tied to operating these instruments is opened automatically. This account downloads the whole available sum from the current account used for making money transfers, in the currency, that was used for the last operation on the current CSANI account used for transfers. If the current account hasn’t been used to make any transactions yet, then the base sum in the started investment platform is in the currency local to the language version of the platform, or the country of the IP address used for logging in. Thanks to this lack of spread and provisions in any currency exchanges, this way of using the current account is very convenient for the clients, as they don’t have to worry about costs related to currency exchange, or think about setting a base currency for the investment platform.
If the user orders a withdrawal from the „CSANI money transfers”, the money will be exchanged back into the currency it was in during deposits into the “CSANI money transfers”. If the loss during investments in financial instruments exceeded the account balance in the currency used for investments, then the money needed for covering the balance is used in the same order known from the method used for covering withdrawals in “CSANI money transfers” that we described above.

... We welcome you to use „CSANI money transfers” ...