Online Platform FAQs
Some of the most common questions we receive are highlighted below.
How do I set up a Moneycorp account, and how long will it take?
We like to save you time as well as money, and that’s why opening an account takes just a few moments. You can sign-up online or call a member of our team +353 (1) 901 5252. There is no obligation to trade with us if you open an account, but doing so now means you won't have to wait at all when the time to trade arrives.
How do you determine what rate to charge?
Our rates are based on a combination of factors:
- The current exchange rate
- The amount transacted
- The currency purchased
You receive the same rate whether you pay by debit card or pre-fund your account by bank transfer.
Foreign exchange markets do not operate between the hours of 10pm on Friday and 8pm on Sunday (both times are GMT). Therefore, the exchange rate you receive via moneycorp Online during this period will not increase or decrease. At all other times, the rate you receive will track live exchange rates.
How much do payments cost?
Choose to send your currency overseas using our £5 Standard (2 - 4 days) or £9 Express (0 - 2 days) service. Deals booked over the telephone are subject to a transfer fee of £15 and are sent express.
How much money can I transfer?
You can trade from £50 or its equivalent in any of 33 currencies using moneycorp Online. The minimum amount that you can send using our Regular Payment Plan is £250.
How long do international payments take?
moneycorp offers two transfer options: Standard and Express. The Standard option is more cost-effective, and the Express option is quicker. You can choose whichever suits your needs.
Standard: 2-4 days
Express: 0-2 days
*Delivery times are measured in working days and may vary depending on the currency, destination and banks. Moroccan Dirham takes 3 days and Indian Rupee takes 2 days for express delivery.
What do I need to know about the new requirement to provide recipient addresses?
Address changes in April 2021:
From April 19th 2021 completed recipient addresses will be compulsory when sending an international payment.
A complete, valid address include the following fields:
- Beneficiary Address (required)
- Beneficiary City (required)
- Beneficiary Country (required)
- Beneficiary State (If applicable)
- Beneficiary Postal Code (If applicable)
In order to add or modify an address on your existing recipients please email your Relationship Manager to make the update for you. If this is not done in advance you will need to provide the address data at the time of entering the payment.
If you have any questions or need further assistance, please get in touch with moneycorp.