Moneycorp Technologies Ltd FAQ's

Moneycorp Technologies Ltd FAQ's

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Moneycorp Technologies Ltd (abbreviated as MTL) has been set up in Ireland to transact with EU clients under the authority of the Central Bank of Ireland.

Moneycorp Technologies Ltd has successfully applied for and received a European Money Licence (EMI) for non-regulated FX and payments and a MiFID Licence for regulated products such as in-scope forwards and options.

Below are some FAQs to guide you through the preparations and procedures we have implemented as part of our move to Moneycorp Technologies Ltd. If the information below doesn't answer your question, please get in touch.

 

What will change for me?

-       The counterparty with whom you contract with will now be Moneycorp Technologies Ltd instead of TTT Moneycorp Ltd

-       You will have a new client ID

-       You will have a new CK reference for all payments to your account

-       You will have new bank accounts

-       Your existing beneficiaries will move to Moneycorp Technologies Ltd 

-       Your open FX contracts will move to Moneycorp Technologies Ltd 

-       Your fund balances on account will move to Moneycorp Technologies Ltd 

-       Your pending payments will move to Moneycorp Technologies Ltd 

-       Your moneycorp online log-in credentials remain the same

-       The way in which you do business with us remains the same

Do I need to open any new account(s) with moneycorp?

You will not need to apply or open a new account, on the noted migration date your account will be moved automatically.

Will I have the same account manager?

Yes, your account manager will remain the same. Clients that currently liaise with the Dublin, Madrid or Romania offices will continue to be serviced by the same people. European customers serviced from moneycorp UK will be serviced by the Moneycorp Technologies Ltd  team out of Dublin, or Madrid/Romania where appropriate.

Will the moneycorp bank account I send money to change?

Yes, Moneycorp Technologies Ltd will have its own set of bank accounts.

Will I settle into the same bank accounts?

No, Moneycorp Technologies Ltd will have its own set of bank accounts. You will need to deactivate the previous account details on your banking system and add the new Moneycorp Technologies Ltd bank account details which will be available from your moneycorp online account, once your account has been moved to Moneycorp Technologies Ltd.

Will I need to provide documentation for this process?

Assuming there is no change to your information, you will not be required to provide any KYC (Know Your Customer) documentation for this process and you will automatically move across as part of our migration unless you request not to. Additional or refreshed documentation may be requested in accordance with existing regulatory requirements, but we will let you know. 

Will I still be able to send all currencies in the same manner post-Brexit?

Yes, although it is worth noting that some exotic currencies will no longer be available. Your main contact will be in touch to let you know if these changes affect you. However, 99% of the currencies traded will remain under Moneycorp Technologies Ltd.

Will the process for payments remain the same?

Yes, although the bank account details to pay Moneycorp Technologies Ltd will be different.

Will my money still be protected?

Moneycorp Technologies Ltd will provide the same protections to clients as those enjoyed under previous arrangements.

What regulations are in place to protect my details and me?

Moneycorp Technologies Ltd and the moneycorp group will continue to protect data in the same way as we do now under the General Data Protection Regulation and any additional local regulations.

Will there be any impact to where I can send money to?

As always,  your relationship team will work closely with you to ensure your money gets to where it needs to be.

Will we still use the same phone number & email address?

Yes - Business clients who work with moneycorp in Romania will still telephone us on +4031 630 51 11 or by email on romania@moneycorp.com

What do I need to do now?

Nothing however once you are transferred to Moneycorp Technologies Ltd , you will need to use the new MTL bank account details and your new unique payment reference when sending funds to us to avoid delays.

How can I be sure these new bank account details are genuine?

We understand clients can naturally feel concerned when presented with a different set of account details. Feel free to call us so we can provide verbal confirmation.