Moneycorp
Moneycorp
Moneycorp is a market-leading foreign exchange and international payment specialist, with over 30 years’ industry experience. Whether you need to make a one-off payment or regular transfers, their experts will save you time and money. Committed to providing a fast, efficient service to businesses and individuals, and has been dealing in foreign exchange since 1979 and serves more than 2.8 million customers a year.
Moneycorp can help you to buy the currency that you need and to make overseas transfers on your behalf. Regardless of the size of the payment or payments that you have to send, we will ensure that the process is fast, highly cost-effective and hassle-free.
Moneycorp has direct access to the currency markets, which means we can offer highly competitive exchange rates on all major currencies, often beating the banks by over 3%.
How do I start?
The service is free to set up, there is no monthly or annual subscription charge and there is no obligation to use the service. Our quick and simple online registration process means you can transfer your money within minutes.
Moneycorp Benefits
- Better exchange rates than your bank - saving you money
- No transfer fees on all your transactions
- Expert guidance helping you to transfer at the right time
- Over 30 years of trading currencies
- FCA authorised & 4A 1 Dun & Bradstreet rating – giving you peace of mind
So why use Moneycorp instead of your bank?
Because making transfers with Moneycorp is faster, more convenient and more cost-effective. Whether you’re making regular transfers, or need to make a one-off payment, they don’t charge commission and guarantee no receiving bank charges. They also offer free information and guidance on the currency markets, helping you decide on the best time to buy.
Highlights
- Same-day transfers to Europe and the US
- Highly competitive exchange rates
- No commission or receiving bank charges
- Expert guidance from a personal Account Manager
- Free use of their secure credit/debit card payment gateway to pay property deposits
- Ability to fix exchange rates for a set time period, protecting from adverse currency movements
- No cost and no obligation in opening a Trading Facility
- Extended opening hours: 7:30am – 10:30pm Monday to Friday (and 10am – 4pm on Saturday for personal clients)
Moneycorp
| Margin | 0.6% |
| Margin explanation | Margin changes depending on the amount of currency you transfer. |
| Financial Conduct Authority Regulated | YES |
| HM revenue & Customs Regulated | YES |
| Fee | £0 |
| Minimum transaction | Based on circumstances, usually £1,000 |
| Trust account | Barclays |
| Transfer options | Bank to Bank transfer, Spot Contract, Forward Contract,Limit Order, Stop loss Order |
| Currencies | 76 currencies |
| More: | Improved FX Rate with Larger Volume; Online Registration |
Regular international payments
The Regular Payment Plan (RPP) from Moneycorp is the service for you. It is specifically tailored for:
- Mortgage payments
- Pension transfers
- Salary transfers
- Property maintenance payments
The Moneycorp Regular Payment Plan is fully automated and takes the hassle out of regular overseas transfers. Your sterling is collected by Direct Debit and the foreign currency automatically sent abroad.
Foreign Currency Account opening procedures for Non-UK Nationals and Overseas Clients
Non-UK residents can easily register with Moneycorp. They are simply required to provide:
- 1 form of photographic identification (copy of a passport, driving licence or national identity card) and;
- 1 proof of living address (a recent bank statement, utility bill or tenancy agreement).
On receipt of these documents, Moneycorp will open the trading facility. Clients can then start to benefit from Moneycorp’s services. Once registered, there is no cost or obligation to use Moneycorp.
Forward contracts
A forward contract allows you to book to buy/sell currency in the future, at a rate you fix today. Forward contracts can help protect against adverse currency movements and can be used to lock into favourable exchange rates.
Using Moneycorp, you will be assigned a dedicated Account Manager, who will explain the currency markets to you in , to help you make the decision at the right time, when the rates are in your favour.
Security of Client Funds
Although the company is not obliged to do so, Moneycorp segregates client monies, in order to provide additional security. All client funds are held at Barclays in segregated client accounts. Segregation of these funds means that they are not used for any purpose other than client transactions and, in particular, are not available for set-off or other purposes in respect of any monies that may now, or in the future, be owed by Moneycorp to the Bank.