Legal

Legal

Legal

Bound Pricing Standards

Bound Pricing Standards

Bound Pricing Standards

Bound Rates Limited (hereafter “Bound”) is committed to delivering good customer outcomes and a key driver of risk in this area is unfair pricing. We have set out below our view on fair pricing versus unfair pricing and aim to adhere to these expectations at all times.
We will monitor pricing considerations throughout your relationship with us and will take action where we have concerns. You must provide us with a profile of your expected usage at the on-boarding stage for review and upon approval we will provide your pricing for services with Bound. We will continue to monitor your transactions and pricing throughout your time working with us.
The Pricing Standards below describe Bound’s expectations for the customer’s pricing of its products.

Standard 1: Transparent pricing

We aim to always have a transparent pricing model and to always disclose a price for the products or services before the customer is bound by the agreement. The pricing information must be communicated to the customer in a clear and non-misleading way and to properly disclose all fees that will be charged. 
We will also retain records that demonstrate that the customer agreed to the products and services terms and conditions, including the pricing.

Standard 2: Fair value

We price our products and services fairly and avoid price discrimination, i.e. charging different prices to different consumers that have the same costs to serve, but different willingness to pay. This does not mean that all customers must receive the same price - the price might differ if the cost to serve the customer is different or the quality of the product is different.
Bound strives to ensure that existing customers are not getting worse pricing than new customers (so called “loyalty penalty”) and also that they do not exploit any information or knowledge imbalance in their pricing.
Bound does not charge its customers fees besides a spread on FX in relation to products provided by Bound, and where applicable, relevant payment fees. We expect that the spread applied reflects the level of service provided and does not feature considerations which would constitute harmful price discrimination. We expect to be able to explain in detail any differences in the spreads charged and to retain records that demonstrate the objective criteria considered when setting the spread.
If through our on-going monitoring we see indications of unfair pricing contravening the above, we will review and contact you to provide us with any information that we need to support a more detailed review, and in certain cases we may provide redress to customers for past unfair pricing practices.
Bound also does not charge exit fees. An exception to this would be where the Bound suffers a direct loss as a result of the customer leaving, for example due to closing of a forward trade. In that situation, Bound may claim compensation for the loss from the customer.

Standard 3: Vulnerable customers considerations

We look after the interests of all customers and to treat them fairly, and this includes considering vulnerability characteristics in their pricing to ensure that vulnerable customers do not receive a less favourable pricing. 

Standard 4: Periodic review

We review customer pricing models on a periodic basis, at least annually. This applies to review of pricing for any new or prospective customers, but also for existing customers.
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  • Create a free demo account to see the product and try all features

  • Or book some time with us if you prefer a guided tour

see how it works
  • Create a free demo account to see the product and try all features

  • Or book some time with us if you prefer a guided tour

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Copyright @ 2024 Bound


All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.


Bound (Bound Rates Limited) is a limited company registered in England & Wales under number 13036275 with registered offices at 16 Great Chapel Street, London W1F 8FL


Bound Rates Limited (FRN 966723) is authorised and regulated by the Financial Conduct Authority to act as an Investment Firm.​


For clients based in the European Economic Area, payment services are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).


For clients based in the United States, payment services for are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011.


For clients based in the United Kingdom and rest of the world, payment services (Non MIFID related products) are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Currency hedging technology with unrivalled speed and flexibility

Don't miss the latest

Copyright @ 2024 Bound


All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.


Bound (Bound Rates Limited) is a limited company registered in England & Wales under number 13036275 with registered offices at 16 Great Chapel Street, London W1F 8FL


Bound Rates Limited (FRN 966723) is authorised and regulated by the Financial Conduct Authority to act as an Investment Firm.​


For clients based in the European Economic Area, payment services are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).


For clients based in the United States, payment services for are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011.


For clients based in the United Kingdom and rest of the world, payment services (Non MIFID related products) are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Currency hedging technology with unrivalled speed and flexibility

Don't miss the latest

Copyright @ 2024 Bound


All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.


Bound (Bound Rates Limited) is a limited company registered in England & Wales under number 13036275 with registered offices at 16 Great Chapel Street, London W1F 8FL


Bound Rates Limited (FRN 966723) is authorised and regulated by the Financial Conduct Authority to act as an Investment Firm.​


For clients based in the European Economic Area, payment services are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).


For clients based in the United States, payment services for are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011.


For clients based in the United Kingdom and rest of the world, payment services (Non MIFID related products) are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).