Future Transfers is one of Covercy's features, enabling you to create a transaction with an execution date at some point in the future.
i.e. Your supplier wants to get paid on the 25th of Jan, but today is the 1st of Jan. You can create a transaction on the 1st of Jan but with the execution date being the 25th of Jan.
- Better planning - No need to wait for the last minute
- Easier tracking - All your scheduled transfers in one place
- Less work - We will remind you when a transfer is due
The final rate of your transaction:
This is how we determine the rate for your Future Transfers. We will set the final committing rate 2 business days prior to your actual transfer at exactly 08:00 AM UTC time. You will then receive a notification email with instructions on where to send your funds to, so that we can complete your transaction (just as if you had created this as a standard immediate transfer at that time).
i.e. With regard to the example above, if the execution date is the 25th Of Jan. You will receive an email on the 23rd of Jan.
Feel free to change your plans at any time. You may cancel your Future Transfer at any point in time prior to when we set your final committing rate indicated above. That leaves you with plenty of time to re-think your next transfers.
i.e. With regard to the example above, you can cancel your transaction at any time from the moment you have created the transaction, 1st of Jan, until the 22nd of Jan, before the final rate has been submitted to you via email.