Why should I choose Moneycorp instead of my bank?
We can save you money by using our experience, market knowledge, technology and focus to get you the most competitive exchange rates.
We also take the time to understand your requirements, which helps us suggest the best solutions to maximise the value of your currency transfer. Foreign exchange can be complicated, and our experts are on hand to guide you every step of the way.
How do I know my money is safe with Moneycorp?
We’ve been in business for over 30 years and help clients make about 7 million transactions each year. This says a lot about our reputation and reliability.
As an authorised Payment Institution, Moneycorp is legally required to safeguard client funds in respect of a payment. We are a licensed Money Service Business. Moneycorp FRM is authorised and regulated by the Financial Conduct Authority for the conduct of designated investment business.
You can find out more about how we perform by taking a look at our annual report.
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 complete an Account Agreement online or request a copy from a member of our team by calling +44 (0)20 7589 3000. 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 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 money transfers 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. MAD and INR take 3 days and min 2 days, respectively, for Express delivery.
How much do transfers cost?
From 20th June to 31st July 2016 moneycorp are offering free transfer fees on all transfers. From 1st August 2016, for transactions using Moneycorp Online the charges are £5 for a standard payment, taking 2–4 working days, and £9 for an express payment, taking 0-2 working days. For transfers carried out as part of a Regular Payment Plan the charges are £4 for a standard payment and £8 for an express payment. Deals booked over the telephone are subject to a transfer fee of £15 and are sent express.
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 do I make a complaint?
Keeping our customers happy is important to us. If you have a problem we’ll do everything we can to put matters right as quickly as possible through our official complaints procedure.
To view our complaints handling procedure click here.