Franx is not a bank, but rather a financial services provider subject to regulatory supervision by the Netherlands Authority for the Financial Markets and DNB (Dutch Central Bank). As a financial services provider, we hold a payment service licence issued by DNB, as well as the AFM permit for investment companies. Needless to say, the relevant legislators or industry regulators (DNB/AFM) have also issued a declaration of no-objection.
Franx B.V. transfers any funds you keep in your account with Franx B.V. for payments or as a margin for derivative transactions to the Franx Payment Services Escrow Provider or the Franx Collateral Escrow Provider respectively. The escrow accounts managed by these Escrow Providers are held with ABN AMRO Bank N.V.
Given the fact that the escrow accounts are held with ABN AMRO Bank N.V., you are exposed to the risk of ABN AMRO Bank N.V. being unable to meet its payment obligation to the Escrow Providers. This is what is often referred to as credit risk. You are exposed to a credit risk on ABN AMRO Bank N.V. as the party where the Escrow Providers have their escrow accounts. For up-to-date information on ABN AMRO Bank N.V.’s credit rating, visit www.abnamro.com and check the Credit Ratings section under Investor Relations.
2. Check your currency account regularly. You will quickly notice any strange or unjust withdrawals.
3. Make sure the computer you do your banking on is secure. Update your virus scanner and your software regularly.
4. Do not click on a link that is sent to you in an email. By doing this, you’ll know for sure that you're on the right website. Type the adress of the website yourself: 'https://www.franx.com’.
5. Make sure the address of the Franx website is spelled correctly. Criminals can create misleading websites with a slightly different name, such as farnx.com instead of franx.com. Make sure the internet address starts with https://. The 's' stands for 'secure'. If the address starts with 'http' (without the 's'), the internet connection is not secure. Stop whatever you're doing on the Franx platform and contact us.
6. Do you use a computer that is also used by others? On the login screen, do not check the box 'Remember login details’.
7. Some browsers ask you if you want to remember your password. Never store your identification code in this way.
8. Check that the details are correct when you transfer money or pay an invoice. Is the account number, the amount and the date you pay? Then send your order.
9. Log out when you have finished your activitites.
10. Only install or update software via an official or reliable publisher. Do not use download sites.
Postal address: Autoriteit Financiële Markten, PO Box 11723, 1001 GS Amsterdam Physical address: Vijzelgracht 50, 1017 HS Amsterdam
Postal address: De Nederlandsche Bank, PO Box 98, 1000 AB Amsterdam Physical address: Westeinde 1, 1017 ZN Amsterdam