Moneycorp account FAQs

How do I get a user ID and password for an online account?

Once your account is approved, you will receive an email from your dedicated account manager with your Customer ID #, Username and Password for online access. Then you can login and make international payments and use risk management tools right away.

Are there costs or fees to open an account or maintain an account?

It’s free to open an account with us. All currency market information and guidance from our foreign exchange dealers is provided free of charge. Transaction fees may apply as set forth on your payment receipts.

Are there any costs to using the online system?

No. By opening an account with moneycorp, you’ll gain access to our online payments platform designed to help you manage all of your foreign exchange needs. However, there may be a transaction fee applied to transactions entered online in the same manner as if the transaction was entered offline.

How do I know how much money I need to send?

Whether through your account manager or online, you will receive a receipt clearly outlining the amount of foreign currency bought/sold and the cost in your home currency. Or you can opt for pre-authorized debit and we will seamlessly debit your account the owed amount on the receipt.

What information do I need to send a payment abroad?

The following information is required by most countries for receiving international payments:

Full name and address of the Beneficiary/Receiver

Full name and address of the Remitter/Sender

Bank Name, Branch Address, SWIFT code, local bank code (Transit in Canada, SORT in England, BSB in Australia, IFSC in India).

Reference/Purpose of Payment

Additional information required by some countries are TAX ID numbers, phone numbers, and contact name for corporations.

How does my payment recipient know to expect the payment?

Once your payments are booked and sent, your payee will receive an email with the amount and currency sent, as well as any pertinent reference information.

How long does it take for my payment to reach its destination?

Though there may be a delay due to factors outside of our control, most international payments are generally credited to the foreign currency account in 24-48 hours. Country regulations and correspondent banks may delay this process.

Are there maximum/minimum numbers of payments or volume requirements?

No, we are a full-service partner. We can help you manage all your international payment and receivable needs. Depending on your volume, we can work with you to ensure your business runs smoothly by integrating your systems with ours, or customizing our online user interface to your needs.

What transaction documents will I receive from moneycorp?

Please find a summary guide for all moneycorp transaction documents here.

What do I need to know about the new requirement to provide beneficiary addresses?

Action Required: Effective March 25th, 2021, completed beneficiary addresses are mandatory when making payments. 

All existing and new beneficiaries must include a valid address for all payment types. Payments that fail to include all required information will result in delayed or rejected payments.  

A complete, valid address include the following fields: 

  • Beneficiary Address (required)
  • Beneficiary City (required)
  • Beneficiary Country (required)
  • Beneficiary Province/State (If applicable)
  • Beneficiary Postal Code (If applicable)

Please note: In order to add or modify an address on your existing beneficiaries please email your account 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 at 800-239-2389 (U.S.) or 888-822-8131 (Canada).

Monday through Friday, 8 a.m. to 5 p.m., ET.