About the Author

Founder & author

Gavan started iCompareFX in 2014 after discovering the easiest way to wire money internationally was through a specialist provider and not the big banks. Working with global clients, he has become an expert in comparing money remittance companies. An ex-financial/IT nut turned entrepreneur, he reviews the best and cheapest providers available on the market.

Spot transfers

Forward contracts

Market orders

 

 

Payment options

Bank transfer

Direct debit

Debit card

Moneycorp balance
 

Payout options

Bank transfer
 

Transfer options

Online

Phone
 

Regular transfers

Available

 

Send money to

AED, AUD, BHD, CAD, CHF, CZK, DKK, EUR, HKD, HRD, HUF, ILS, INR, JOD, JPY, KWD, LTL, LVL, MAD, MXN, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, SGD, THB, TNB, TRY, USD, ZAR

Email - enquiries@moneycorp.com


Personal Features

75

Individuals may turn to Moneycorp in different scenarios such as:

  • Sending money to family and friends
  • Buying property overseas
  • Emigrating
  • Making mortgage payments
  • Receiving pension payments
  • Planning an overseas wedding
  • Sending money back home to the UK
  • Getting cash in foreign currency for overseas travel
  • Getting a multi-currency card

Business Benefits

78

Moneycorp provides a range of services using which businesses can make international payments and manage their foreign exchange risk. The company’s specialized sector knowledge covers these industries:

  • Asset managers
  • Banks
  • Consumer finance
  • Fund managers
  • Global insurance and reinsurance
  • Hospitality and leisure
  • Private equity houses
  • Wealth managers

Fees & Exchange Rates

29

Moneycorp does not charge any fees for transfers you initiate online using its UK-based website. Making scheduled transfers does not attract additional fees. If you book a transfer over the phone, you will need to pay a transfer fee of £15, and all such transfers are sent express.
 

Moneycorp fees

Transfer fees may vary depending on where you live and the Moneycorp website you use, as indicated in the corresponding table.

COUNTRYONLINEOVER THE PHONE
AustraliaFreeFree
RomaniaFreeFree
Spain

Standard: GBP 5

Express: GBP 9

GBP 15
Ireland

Standard: GBP 5

Express: GBP 9

GBP 15
France

Standard: GBP 5

Express: GBP 9

GBP 15

 

Moneycorp exchange rates

Different factors affect the transfer rate you get when carrying out a Moneycorp money transfer. These include the amount you wish to transfer, the currencies involved, and prevailing market rates. The company lets you target exchange rates through forward contracts and market orders. The exchange rate you get remains the same for payments made via debit cards and bank transfers. Moneycorp currency charts let you track exchange rate fluctuations with ease.


Ease of Use

68

Payment options. You may pay for your Moneycorp fund transfer using an electronic bank transfer, a debit card, or the balance in your online Moneycorp account. For automated payments, you can pay via direct debits.

Scheduled transfers. Moneycorp gives you easy means to set up scheduled payments. You can send your payments every week, once a month, or quarterly. A minimum transfer amount limit of £250 applies. You have the option of fixing the exchange rate for up to 24 months.

Spot transfers. If you want the company to process you transfer on the same day, you can carry out a spot transfer. You get to choose from two delivery speeds.

Forward contracts. With a Moneycorp forward contract, you get to lock in an exchange rate for up to two years. You can access the fixed rate at any time during the contract’s duration.

Market orders. Market orders give you the ability to target rates that are not available on the market. When the exchange rate reaches a predetermined level, Moneycorp processes your transfer.

Contract options. Through contract options, business clients may limit their forex risk and still enjoy market opportunities. The contract options Moneycorp offers include Vanilla, Participating Forward, Forward Extra, and Range Forward.


Support & Countries

81

Moneycorp lets individuals from most countries register as customers. You may check if it supports the country of your residence before registering as a new customer.

The currencies Moneycorp supports include, but do not limit to, the following.

CURRENCY CODECURRENCY
AEDUnited Arab Emirates dirham
AUDAustralian dollar
BHDBahraini dinar
CADCanadian dollar
CHFSwiss franc
CZKCzech Republic koruna
DKKDanish krone
EUREuro
HKDHong Kong dollar
HRDCroatian kuna
HUFHungarian forint
ILSIsraeli new shekel
INRIndian rupee
JODJordanian dinar
JPYJapanese dinar
KWDKuwaiti dinar
LTLLithuanian litas
LVLLatvian lats
MADMoroccan dirham
MXNMexican peso
NOKNorwegian krone
NZDNew Zealand dollar
OMROmani rial
PLNPolish zloty
QARQatari rial
RONRomanian leu
SARSaudi riyal
SEKSwedish krona
SGDSingapore dollar
THBThai baht
TNBTunisian dinar
TRYTurkish lira
USDU.S. dollar
ZARSouth African rand

Trust & Transparency

56

The UK Financial Conduct Authority (FCA) has authorized and regulates operations of Moneycorp.

The company lets you subscribe for daily or weekly market updates without registering as a customer.

You can get travel money in a range of currencies. You may collect cash from a branch or get the multi-currency MasterCard instead.

Moneycorp customer service levels seem to have remained consistent over time. In the last year, 113 out of 144 customers gave the company five out of five stars on Feefo. Overall, it averages at 4.7 out of 5. On Trustpilot, it averages at 8.1 out of 10. However, the company has received some negative reviews on Twitter for its travel money services.

FAQs

Summary

73

Moneycorp has its headquarters in the UK, with offices also in the U.S., Spain, France, Ireland, Romania, Hong Kong, Australia, and the United Arab Emirates (UAE). Both, individuals and businesses, may carry out spot transfers or wait to target better exchange rates.

International money remittance services offered by this company receive largely favorable feedback across different platforms. The clients it serves include many blue-chip companies and organizations.

Moneycorp operates retail bureaux de change at Bristol, Gatwick, Southampton, Southend, and Stansted airports, as well as across Central London.

Pros

    Cons