FAQ

• As a matter of policy, Clearshift segregates all customer funds into specially designated bank accounts.  In other words, your money never enters our own pocket.  The purpose is to insulate your money from any risks associated with our business.
• To insulate customer funds from external risks, Clearshift maintains an absolute policy against releasing proceeds of an exchange transaction to a customer until the customer has sufficient coverage for the exchange transaction in their Clearshift account.  While this may lengthen the transaction cycle, the overall safety and integrity considerations of the settlement system prevent us from taking delivery risks with ANY customer.
• Clearshift is independently audited for compliance with international data protection and privacy regulations.

In the United States, Clearshift is registered with the Department of Treasury as a Money Service Business and is licensed as a Money Transmitter by the New Jersey Department of Banking & Insurance.

In Israel, Clearshift (Israel) Ltd is licensed by the Israeli Ministry of Finance - Capital Markets, Insurance and Savings Authority as a Provider of Regulated Financial Services.

In 2020, Clearshift obtained an E-Money Institution (EMI) license from the Bank of Lithuania. Pursuant to the European Union’s PSD2 regulation. Thanks to the passporting regime, Clearshift’s license gives it the ability to serve customers throughout the EU.

You can contact support via email at:

support@clearshiftinc.com
or via phone: +97239155726

Our support hours:
Sundays: 09:00-16:00
Monday-Thursday: 09:00-18:00
Friday: email support till 10:00 am.
All hours are GMT+2 or GMT+3 during daylight-saving time.

To file an official complaint with Clearshift, please go to the "contact us" page and fill out your contact info and complaint.
Where an official complaint is received in relation to a transaction, we will record the nature of the complaint and issue an acknowledgment email to the complaining party by the end of the 3rd business day. The acknowledgment will provide the complaining party with the contact name of the person who is responsible for dealing with the complaint.
We will investigate the complaint as swiftly as possible and, where applicable, the complaining party will receive a regular written update on the progress of the investigation at intervals of not more than 15 business days.
We will try to resolve Your complaint within 30 business days of having received the complaint. If Your complaint cannot be resolved within 30 business days, We will notify the complaining party of the anticipated timeframe for the conclusion of the investigation.

Within 5 business days of the conclusion of the investigation of the complaint, we will issue a resolution letter detailing the outcome of the investigation. This letter will include, if applicable, an explanation of the terms of any offer that we are prepared to make in settlement of the complaint.

If at any time the complaining party is unsatisfied with the handling of the complaint or we cannot resolve the complaint within the 30 business days timeframe, the complaining party will be notified of his/her right to refer the matter to the appropriate regulatory authority which varies based on the jurisdiction involved.

After hours, you are welcome to leave a voice message, a callback number or send us an email to support@clearshiftinc.com

Sundays: 09:00-16:00 (Isreal time)

Monday-Thursday: 09:00-18:00 (Isreal time)

Friday: email support only till 10:00 am (Isreal time)

A real-time rate is a real-time interdealer mid-rate offered to customers who have an existing exchange order and do not want to wait for the BOI/Siren to publish the next exchange rate.

Any exchange order with the following currency pairs:
ILS- USD
ILS-EUR
EUR-USD  

Please note there is a limit of up to 100K USD and additional conditions apply.

No, Clearshift reserves the right to disable the real-time rate option, though once a real-time rate is applied to an order, it will be honored and executed accordingly.

At this stage, real-time rates are available for existing orders only. This can be done on the orders page on our customer portal.

Yes. 0.1% + VAT for business customers and 0.1% including VAT for individuals in addition to the existing fee.

You can check your order status on the customer portal. Also, please take a look at the confirmations we send to you via email.

Not necessarily. There may be a delay in the sending of confirmations due to technical issues. Feel free to check your order status on the customer portal if you have any concerns.

Throughout the process, you will receive 4 email confirmations:

• Confirmation of Exchange order – this confirmation displays the details of your order.
• Confirmation of funds received – this confirmation confirms that Clearshift has received your funds and that your Clearshift balance has been credited.
• Confirmation of funds sent – this confirmation confirms that we have sent out your converted funds to the destination bank account.
• Currency exchange transaction confirmation – this confirmation contains a summary of the transaction and includes an invoice for the commission charged.

You can check your order status on the customer portal. Also, please take a look at the confirmations we send to you via email.

There are various reasons for delay of funds:

• Holidays in Israel or abroad.
• Days when there are no exchange rates published.
• Weekends.
• Your order may need approval.
• Compliance issues.

The funds usually appear the next banking day after we deliver them.

You will receive a confirmation when we deliver the funds. Please note the funds usually appear in the destination bank account the following banking day.

Once the funds have been exchanged, it takes up to 2 banking days till the funds are delivered.

An order can be modified till 13:30 (Israel time) on the exchange day.

An order can be canceled till 13:30 (Israel time) on the exchange day. After that, we have already exchanged your funds and your order cannot be cancelled.

This depends on the transfer method the sender chose. The sender can get this information from the sending bank. Once we receive and identify the funds, you will receive an email confirmation.

Any funds left from the transaction will appear in your balance with Clearshift which can be viewed on the portal.

If you have a standing instruction, we will convert the full amount we receive and deliver it after fee deduction to the destination bank account.

If you need an exact amount in the destination bank account, we advise you to add 2% to that exact amount and then multiply that amount by the current Benchmark interbank mid-rate.  This should assure you will have sufficient funds to cover the requested order amount as well as our fee. Any excess funds left over from the transaction will appear in your balance with Clearshift and may be refunded.

If you set up a  standing instruction, the funds will be handled according to your standing instruction - converted and delivered to your bank account without any need for further action on your part.

If you have already submitted a conversion and/ or payment order on the customer portal, the funds received will be applied to your order, if the currency and originating bank account match the order.

Otherwise, the funds will go directly to your account balance with Clearshift and no action will be taken until you submit an order. Please note, we may restrict the availability of funds received from a third-party bank account if no order is associated with the funds.

Funds received to your unique virtual bank account are automatically associated with and credited to your Clearshift account.

When sending funds to one of Clearshift’s general collection accounts, we will identify the funds by matching the sending bank account details against the bank accounts you have pre-registered to your account.

It is your unique bank account number that we may issue in the name of your Clearshift account for a given currency and/or country. 

We accept bank transfers from pre-approved bank accounts.

• In the U.S. and Europe we will provide you with your own virtual bank account to direct fund transfers to your Clearshift account via domestic bank transfers.
• For other types of transfers, we will provide you with deposit instructions for deposit to a general Clearshift collection bank account.

We commit to keeping you updated throughout the process. We will notify you by email when:

• We have received funds and credited your Clearshift account.
• A new order was initiated in your account.
• We have sent out the converted funds to the destination bank account.

You will also receive a summary of the transaction with an invoice for the fee attached.

On the customer portal you can:

• Place conversion and payment orders;
• Verify orders;
• Update personal information;
• Set up new bank accounts connected to your Clearshift account;
• View your balances;
• View and download your transaction history;
• View your fee invoices;
• Check the status of orders.

We will provide you with access information once your account is open and approved and if your activity requires use of the customer portal.

A standing instruction allows automatic conversion of any funds received and delivery of the proceeds to your bank account, without the need for entering an order each time funds are received. You can revoke your standing instruction at any time.

Some customers need most of their money right away, and don’t want delivery to be delayed because the rate is not yet published. In those cases, Clearshift offers a
"Split Standing Instruction"- the option of advancing 95% of the estimated amount and receiving your ILS one day early.
Conditions:

• This service is not offered on Sundays (or on any other day that the Bank of Israel does not publish an exchange rate on) , so if funds arrive on Friday after 10:00 AM, the first part of the payment (95%) will only be processed on Monday and will reflect in your bank account on Tuesday.
• This service is only eligible for payments with a value of $10,000 or more and limited to up to $250,000.

You can place an order on our customer portal. The beneficiary and their bank details need to be registered before a payment to them is made.  You will be asked to verify your order through one of our secure verification methods.

We currently support:

• USD
• EUR
• ILS
• GBP
• AUD
• CAD
• CHF
• PLN
• JPY
• CNY
• SEK
• BGN
• RON
• NZD
• HUF
• ZAR

If you have enquiries on other currencies – please contact our Customer Service.

You must first register the new bank account under your account with Clearshift - this can be done on the customer portal or by contacting Customer Service.

Please write to Customer Service to update the  bank account(s) linked to your account. To approve a new bank account, you may be requested to provide us a bank-issued document.

Please contact our Customer Service to update personal information. We may ask you to verify your identity and provide documents supporting the updated information.

This information is available on the customer portal Transaction menu under reports.  You can download your account statements in Excel format.

This information appears on the customer portal, showing your balance in each currency along with the total value of all your currency balances.

This information appears on the customer portal under transactions-> reports.
We also proactively send you the information at the beginning of every year.

No. We only charge our low, verifiable fee per transaction.

Of course. Your invoice for the fee will be attached to your transaction confirmation.

We charge 0.5% of the transaction amount. Please note there is a minimum fee. If your business reaches a 400K$ annual volume - we will offer you a discount and the fee will be 0.25%+VAT.
For more information regarding our fee structure, click here. 

We use the Siren Benchmark. The next rate to be published is yours. Period. No spread.

With a real estate account, your investors can exchange and transfer the investment amount to the project's bank account.  In addition, investors can receive their distributions from the project.

You can accept payments from clients, pay your vendors and exchange and transfer funds between your company's bank accounts.