CAF Investment Account

AUTHORISING TRANSACTIONS

We've answered some commonly-asked questions about authorising transactions through the CAF Investment Account.

The value of investments may fall as well as rise. You may not get back the full amount that you originally invested. Past performance is not a guide to future performance. There is no guarantee about the level of capital or income returns that will be generated.

  • What does dual authorisation mean?

    It means that two people from your charity with Authoriser status must authorise a trade before it can be placed.

    We are currently developing the functionality to introduce the same online authorisation for cash withdrawals.

  • Do we have to use dual authorisation?

    Yes. Dual authorisation is mandatory and so you will need to nominate at least two Authorisers. 

  • How do I Authorise a transaction?

    You will see which transactions need authorising from the ‘Pending orders’ tab. Clicking on the thumbs up icon in the furthest left  column of the tab will give you access to the details of the deal.

    If you are the first Authoriser you will be asked to authorise the transaction.

    If you are the second Authoriser then one of two things will happen, either;

    • Fund transaction: You will be asked to confirm you have read the fund information and then to authorise the trade. Once you have done this the deal status will change to Authorised and the fund will be traded at the next trading point.
    • Stock-market transactions: You will be asked to authorise the trade. Once you have authorised the trade you will be given an indicative price and 15 seconds to accept this. If you accept, the system will place the deal. If you do not accept the price, the trade will show as Authorised, but will not be placed until a new price is generated and accepted. You can do this by selecting the bell icon in the left-most column.

    Please note; if you Authorise and place a deal outside market hours then it will be traded as when the relevant market re-opens. Significant swings in the price of the asset can be seen during this period and any price movement will affect the amount you pay or receive for the asset. Where possible, we always suggest that you place trades when the market you are dealing through is open.

  • Can I place deals over the telephone?

    No, The CAF Investment Account is an online service only. You can instruct and authorise trades online through the Trading centre.

    In the exceptional circumstance that your Account is not available online, we may be able to place deals for you over the telephone. Please see our separate FAQ ‘How do I make a trade if my CAF Investment Account is unavailable?’

  • How do I buy a new holding?

    You can purchase a new holding through the Trading Centre.

    Start typing the name of the holding in the Asset Search box and the tradable stocks will appear ina list below. The more of the name you type, the more the search will refine the list.

    Once you have found the holding you want, click on ‘Buy Asset’ and follow the steps through. Once you have completed the journey, the trade will drop into the Dual Authorisation queue for approval.

  • How do I sell an existing holding or buy additional units / shares in something I already own?

    You can sell all or part of a holding, or add to an existing holding, through the Portfolio link on the left hand side of the CAF Investment Account screen.

    Access the portfolio that contains the stock, then click on the security name. This will show details of the current holding and give you the option to sell all or part of it, or buy further units / shares should you wish.

    For sales you can enter the number of units / shares you want to sell, or click the Max button to enter the entire holding.

    For buys you can specify the amount of cash you wish to invest. 

    The trade will then enter the Dual Authorisation queue and await approval from a second Authoriser, or both the first and second Authorisers if you are a Deal Administrator.

  • How will I know the status of my deal?

    The ‘Pending orders’ tab shows which items are awaiting authorisation and whether the Authoriser is providing the first or second authorisation. It is the second Authoriser that actually places the trade.

    There is also an audit function in this tab confirming the status and the users involved in that trade. 

  • How will the Authorisers know they need to approve a pending transaction?

    The deal creator will need to personally notify the Authorisers that they have to log in to authorise the trade, either as first or second approver, as we cannot automatically notify them at present.

    Otherwise, all deals awaiting authorisation will be visible the next time a user logs in to the Account under the ‘Pending orders’ tab in the Trading centre.

  • Can the first Authoriser notify the second Authoriser to approve transactions?

    Not through the CAF Investment Account, but it may be sensible to let Authorisers know once you've placed a trade. You’ll be able to see any transactions awaiting authorisation when you log in to your CAF Investment Account.

  • How long does the second Authoriser have to approve the transaction, after it's been approved by the first Authoriser?

    The transaction will stay in the pending queue until it is either Authorised or rejected by the second authoriser.

  • Can the second Authoriser amend the transaction details after the first Authoriser has authorised them?

    There’s no amend option, but they can cancel the transaction which removes it from the list. A new order will have to be placed and be subject to dual authorisation again.

  • How does the first Authoriser know that the second Authoriser has approved the transaction?

    In the Authorisation queue under ‘Awaiting authorisation’ there’s an icon to indicate how many Authorisers have authorised the transactions (0/2 or 1/2). You can also drill down to see an audit trail of who authorised a transaction, and when.

  • How quickly will trades be placed after Authorisation?

    The trade will be placed as soon as possible after the second Authorisation is completed.

    • Fund transaction: The fund will be traded at the next trading point offered by the fund manager.
    • Stock-market transactions: Once you have authorised the trade you will be given an indicative price and 15 seconds to accept this. If you accept then the system will place the deal. If you do not accept the price then the trade will show as Authorised, but will not be placed until a new price is generated and accepted. You can do this by selecting the bell icon in the left-most column.

    Please note; if you Authorise and place a deal outside market hours then it will be traded when the relevant market re-opens. Significant swings in the price of the asset can be seen during this period and any price movement will affect the amount you pay or receive for the asset. Where possible, we always suggest that you place trades when the market you are dealing through is open.

  • How do I cancel a trade?

    If the trade hasn’t already been completed and hasn’t been approved by two Authorisers, anyone with Authoriser authority can cancel it via the ’Pending orders’ tab using the ‘Reject’ option.

  • Can I place trades when markets are closed?

    Yes. If you Authorise and place a deal outside market hours then it will be traded when the relevant market re-opens.

    Significant swings in the price of the asset can be seen during this period and any price movement will affect the amount you pay or receive for the asset. Where possible, we always suggest that you place trades when the market you are dealing through is open.

  • Can I place a limit order?

    At this time we are unable to accept limit orders. If you want to achieve a certain price you can create a trade and provide the first and second authorisations. Your second Authoriser can then choose not to accept the initial quote provided and go back into the Account whenever they like to generate a new quote. Once that quote is acceptable the trade can be placed without the need to go through the authorisation process again.

  • How quickly will the proceeds of a sale reach my Deposit account?

    Proceeds of sales will normally be credited to your Deposit account on the settlement date of the trade. This date will be shown on the Contract Note that will appear in the Documents section of your account.

    Please be aware that we cannot guarantee this, as there may occasionally be circumstances that cause a delay in settlement, for example if there is any dispute over the amount of stock sold.

    If you have any questions over the settlement of a trade, then please contact us on 03000 123 333.

  • Can I buy assets even if there’s not enough money in my Deposit account?

    No. You need to have enough cash available to cover the cost of the asset plus any relevant dealing charges before you trade.

  • If I want to sell one holding in order to reinvest in another, can I provide both instructions at the same time?

    No. Unfortunately, you can only purchase assets from the funds that are already held in your Deposit account.

    You will need to log into your CAF Investment Account after you have received the proceeds of the sale(s) you have made in order to buy new holdings. The date on which the sale funds will be paid to your account will be shown on the Contract note you receive.

  • What happens if a trade is rejected after it has been authorised?

    We take all reasonable steps to ensure that trades are not rejected, for example ensuring that you have sufficient cash available for purchases or cannot sell more units / shares than you own.

    However, if a trade is rejected then this will be shown in the Historic tab of the Pending Trades screen. Please be aware that you will not be sent a separate notification of the rejection.

  • What happens if I sell or purchase more shares than I intended to?

    Dual Authorisation minimises the opportunity to make a trading mistake. However once a trade has been placed by the second Authoriser it cannot be amended.

    You can correct any errors by placing a new trade.

  • What happens if I place a trade in an illiquid holding or want to trade a holding outside normal market size?

    If you place a trade that cannot be fulfilled through the electronic trading system at Winterflood Business Services (WBS), it will be referred to their dealing team.

    The WBS dealers will attempt to execute the order as soon as possible in accordance with their Execution Policy, which can be found at the bottom of each screen on the CAF Investment Account under Policies.

    If the dealers need to contact you about the trade, they will provide the details to the CAF Financial Services team who will make contact with you as soon as possible.

  • How do I make a trade if my CAF Investment Account is unavailable?

    In the unlikely event that online trading functionality offered via your CAF Investment Account is unavailable, the CFSL team may be able to place deals on your behalf directly with the dealing team at Winterflood Business Services (WBS).

    This option is only available during CFSL’s normal working hours of 9.00 – 5.00 Monday to Friday (excluding English Bank Holidays) and if your CAF Investment Account trading centre functionality is unavailable. If during the process of providing your instructions the online trading functionality becomes available you will be asked to revert to using that method.

    For practical purposes, the CFSL team will accept telephone deals from a single Authoriser. As this is a lower level of security than is provided for by the Dual Authorisation online system we will not be able to take cash withdrawal instructions in this way.

    We will be unable to provide a trade price quotation or accept limit orders. All trades will be accepted on a ‘good until cancelled’ basis, meaning that the dealers will keep trying to place the trade until they are successful – the instruction will not have a defined lifespan.

    If you would like to make a trade on this basis;

    • call the CFSL team on 03000 123 333 the caller must have Authoriser status on your account to provide any instruction
    • you will be taken through our security checks to confirm your identity and then asked for details of the trade
    • you must be able to provide us with the ISIN code for the stock in question and have your account number (16 digits starting with a C) and portfolio number (15 digits starting PF) to hand. Both these numbers can be found on your Statement and valuation
    • after the call, you will need to confirm the trade details in an e-mail sent from the e-mail account held for you on our records to investments@cafonline.org
    • once we have matching instructions we will then pass them onto the Winterflood WBS dealing team
    • as volumes are likely to be high, deals will be executed on a best endeavours basis. All confirmed instructions will be batched and sent to WBS regularly, at least once each half hour
    • as soon as they are available Contract notes for deals will be posted to the Documents area of your CAF Investment Account.

    Due to the need to prioritise the acceptance of instructions from all CAF Investment Account holders, we will be unable to provide individual call back confirmations that a deal has been transacted.

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OUR TEAM

Our expert team is here to help with any questions you have about investing through the CAF Investment Account.

Phone
03000 123 444
(Monday to Friday, 9am-5pm, except bank holidays)

TECHNICAL SUPPORT

Once you’re up and running, we can help with any technical questions you have. Please call 03000 123 444 Monday to Friday, 9am - 5pm (excluding English bank holidays).

The CAF Investment Account is an unadvised investment product. This means that CAF and Winterflood Business Services can’t offer any advice, so it’s important to get guidance from an independent financial adviser. To find one in your area, visit www.vouchedfor.co.uk.


The CAF Investment Account is provided to you by CAF Financial Solutions Limited (CFSL) and is operated and supplied by Winterflood Business Services. Winterflood Business Services is a registered trading name of Winterflood Securities Limited, registered in England No. 02242204. Registered Office: The Atrium Building, Cannon Bridge House, 25 Dowgate Hill, London EC4R 2GA. Member of the London Stock Exchange and NEX Exchange. Authorised and regulated by the Financial Conduct Authority (FCA register number 141455).

CAF Financial Solutions Limited (CFSL) is authorised and regulated by the Financial Conduct Authority. Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4TA. CFSL is a subsidiary of Charities Aid Foundation (registered charity number 268369).

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25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4TA Telephone: 03000 123 000
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