FAQs

Below are some frequently asked questions, but should you require further assistance please do not hesitate in contacting us on +44 (0)20 7589 3000.

How can I benefit as a member?
How much does it all cost?

How much can I save?
When will my funds be debited?
What frequencies are available?
How long do transfers take?
What do I do now?

How can I benefit as a member?
FPS has chosen Moneycorp because of their unrivalled service offering, including ‘best in class’ customer service. The Regular Payment Plan is the industry leading service for the payment of pensions overseas and can save members over £180 per annum. The availability of individual transfers and the very exciting privilege card means that whatever your requirement for foreign currency, Moneycorp has the ideal solution to save you time and more importantly money.
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How much does it all cost?
Moneycorp does not charge commission on regular transfers or individual transfers. Standard transfer fees for RPP customers are also free of charge (premium delivery is only £5).
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How much can I save?
It depends on the markets, but a better rate of exchange will always save you money. The larger your transactions, the more you will save – and timing is crucial. Exchange rates can fluctuate by as much as 10% in a relatively short space of time. With the Regular Payment Plan, you can fix the rate for up to 24 months, protecting you from adverse fluctuations, meaning you know exactly how much pension you will receive for up to 2 years!
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When will my funds be debited?
The fully automated system means Moneycorp can Direct Debit on any day you choose. Once agreed, they will continue to use your preferred date until you say otherwise. Normally, Moneycorp collects your money by Direct Debit three working days before sending the money to your overseas account. Depending on the delivery option you choose, the funds can be in your account the following day.
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What frequencies are available?
The RPP is flexible enough to accommodate your chosen payment schedule, with frequencies ranging from weekly to annual (includes any variance of the above). You can also run separate plans, so if you need a different frequency for your UK state pension, your Armed Forces pension and your private pension, this can be arranged at no extra cost.
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How long do transfers take?
With the standard service (£free) it typically takes 3-5 working days for the currency to arrive.

With the premium service (£5 per transfer) your currency will be received abroad on the same day or the day after it leaves Moneycorp.
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What do I do now?
In order to take advantage of these special services and rates, you need to be member of the Forces Pensions Society.

You will also need a Moneycorp Account. If you already have one, give us a call on +44 (0)20 7589 3000. We’ll run through the options and set everything up over the phone. (You will need your UK account and overseas account details to hand for RPP.)  Don’t forget to inform Moneycorp that you’re an FPS member, quoting your membership number, to take advantage of the special services available through the FPS!
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If you would like to find out more information, you can call us on +44 (0)20 7589 3000, or send us an email.