Custody Service of Banco Finantia
Because the safekeeping of your securities requires total trust between parties.
We register and custody national and foreign financial instruments through a custody account at Banco Finantia. Most financial instruments are book-entry (they exist only in computer records) and need to be registered with an entity eligible for this purpose. This service makes possible carrying out transactions on securities inside and outside organized markets (Exchanges).
Banco Finantia's team of qualified professionals ensures the registration in the custody account of your financial instrument.
You can contact us by email, contact our Lisbon or Porto branches or use the following telephone number, available on weekdays from 9:00 am to 6:30 pm.
This service is available for Banco Finantia customers in Portugal and also for Banco Finantia Sucursal en España in Spain.
Banco Finantia's registration number at the CMVM - Portuguese Securities Market Commission: 109
Frequent Asked Questions
What is a securities account?
It is the account through which the financial intermediary will receive orders on financial instruments (purchase, sale, subscription, redemption) from investors. It is in the securities account that their book-entry financial securities (bonds, investment fund participation units, shares, among others) will be registered, that is, the securities represented by computerised account records (and not by paper documents).
What is a financial intermediation contract?
The opening of a securities account requires the celebration of a financial intermediation contract, which, legally, must be in written form. The financial intermediation contract must contain, among other elements, a description of the services to be provided (as well as an identification of the financial instruments that are the object), an indication of the rights and duties of the parties and of how to raise complaints.
Note: This information can be found on the CMVM (Portuguese Securities Market Commission) website, with financial additional information.
How does asset-custodianship work?
Asset-custodianship works through the custodian, who acts as a “central depository” for the securities held by the investor. For shares to be traded between two investors, they must be deposited in the clearing system. The custodian sends all the information on the investor, to give more transparency to the asset negotiation process.
Who are the intervening parties in asset-custodianship?
They are the depositary institution, the custodian and the investor.
What is the Investor Compensation Scheme (ICS)?
The ICS was created to protect investors if a participating entity does not have the financial capacity to repay or refund the money or financial instruments that belong to them.
It guarantees the amounts due to investors by a financial intermediary (bank, brokerage company, asset management company, investment fund management company) that is a participant in the ICS and that lacks financial capacity to repay or refund:
- Financial instruments (shares, bonds, investment fund units, among others) deposited by or managed on behalf of clients;
- The money deposited by clients, expressly intended to be invested in financial instruments (including credits arising from investment transactions whose contractual conditions establish a money-back guarantee).
The maximum indemnity limit is € 25,000 per person (applicable to the sum of the investor's shares in the various accounts in which he is the holder), regardless of the number of accounts in which the investor is the holder and the number of holders of those accounts.
The amount of compensation is calculated based on the value of the assets (cash and financial instruments) at the date of activation. The ICS does not compensate losses deriving from investments in financial instruments.
Who can benefit from the ICS protection?
The purpose of the ICS is to protect small investors, excluding "institutional" investors, namely credit institutions, financial companies, financial institutions, insurance companies, pension fund management companies and entities in the public administration sector, among others.
The investor can benefit from ICS coverage if the following assumptions are made cumulatively:
- a) The defaulting financial intermediary is an entity participating in the ICS;
- b) The investor is eligible for coverage purposes;
- c) The investor's credit is eligible for coverage purposes, that is, it refers to covered financial instruments or cash transferred to the financial intermediary (FI) with the express intent of investment in covered financial instruments.
Will my securities portfolio (bonds, investment funds, shares) be protected?
Financial intermediaries must safeguard clients' assets, so they must be properly segregated from the assets belonging to the financial intermediary in the accounting and operations records.
If the FI does not return the securities to the client, these amounts are covered by the ICS, up to a maximum amount of € 25,000 per investor, as indicated.
The ICS does not cover stock market devaluations, that is, losses resulting from the normal functioning of the capital market. Nor does it cover the risks arising from the investment of the Investment Funds, nor the failure of the depositary of the Funds to fulfill its obligations.
There are limitations on protection for a particular type of customer.