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FAQs
In order to get set up for this service, contact your Advisor. We’ll send you the required documentation and you will then receive a user ID and password to access the online service. Once you’re set up, you can login to https://cfxserviceapp.com/cornerstone. It is a secure platform that will require your username and password.
It will take two business days for the account to be set up once all the required paperwork is completed and submitted.
The different transaction types are explained as follows:
- Spot transactions – a means to exchange one currency for another. Settlement is the same day for all spot transactions.
- Forward Contracts – provides protection against future fluctuations in exchange rates by locking in the exchange rate today, and settling funds in the future.
There is no cut-off for booking transactions from Monday to Thursday. Because currency markets close from 5pm EST on Friday to 5pm EST on Sunday, trading is not available during those hours.
For spot transactions, an email notification is generated when the transaction is accepted. Both you and Cornerstone will receive copies of the email and staff at Cornerstone will settle the contract through your account. Transactions booked before 4:00pm will be processed the same day and transactions booked later than 4:00pm will be processed on the next business day. For forward agreements, the funds will transfer at the date specified in the contract (unless alternative arrangements to early settle are made).
The minimum transaction limit is $5,000 per transaction. The maximum limit is based on your individual authorized transaction limit - aggregate trades are allowed up to a maximum of your transaction limit. Your Financial Advisor will provide you with your approved transaction limit.
Please contact your Financial Advisor to request this change.
Unfortunately, because this is a live system, the transaction is booked the second it is accepted. If a transaction has been accepted in error, you can either accept the completed transaction or book an opposing transaction – you will be subject to any foreign exchange gain or loss that occurs. We strongly recommend that a maximum warning limit be set because if too many zeros are entered or accidentally you click to accept, it is a live system, so you will be required to honor any transactions that are booked (even if booked in error).
You can contact your Financial Advisor directly, or by emailing fx@cornerstonecu.com. You can also contact our Contact Centre at 1-855-875-2255.
Please call 1.855.875.2255 or email fx@cornerstonecu.com. Support is available weekdays from 8:30 a.m. to 5:00 p.m.
Ways to Bank
Digital Banking
Digital Banking
Our Digital Banking provides you with 24/7 online access to your accounts, allowing you to take care of your financial transactions - both personal and business - at your convenience.
Mobile App
Mobile App
Our mobile app is available on iPhone and Android™ devices. With tons of convenient features, it's a fast and secure way to handle your everyday banking wherever and whenever works for you.
Contact Centre
Contact Centre
Enjoy the convenience of telephone banking with our friendly and knowledgeable staff, always ready to help on the other end of the line.
Branches & ATM
Branches & ATM
We love to see you walk through our doors. Stop by and let us help you! Or visit one of our ATMs for quick access to your funds anytime of the day or night.
