Foreign Currency Exchange Overview
The Trading Process
1) Initial phone call
Trading with us is very straightforward and usually begins with a phone call to establish your needs and answer any questions that you may have.
2) Open a Trading Facility
In order to trade, you need to open a Trading Facility by completing brief registration form and providing us with copies of two forms of identification. Once we have received your completed paperwork, your Trading Facility is opened the same working day.
For urgent transfers, we can accept faxed copies of application forms and can usually open your Trading Facility within an hour. However it is always best to open an account in plenty of time to allow yourself the best possible opportunity to secure an attractive exchange rate.
Opening a Trading Facility is completely free and without obligation.
3) Verbally agree a trade
Once your Trading Facility is open you can book a contract with your dealer verbally on the telephone.
You will then receive confirmation in the form of a Contract Note. This will be sent by fax, email or letter, depending on your preference. The Contract Note will contain instructions to facilitate the transfer of funds.
4) Send funds to Moneycorp by the agreed ‘value date’ (the date that the currency is required)
There are several options to do this, which will be explained in your Contract Note. All client funds are held in separate designated client accounts with one of our bankers (HSBC, Barclays or NatWest). This ensures the security of your money.
Upon receipt of your cleared funds, Moneycorp will send your foreign currency to the account that you have specified, on the agreed value date.
Should you require confirmation of your transfer, this will be sent to you by fax or email, as you prefer.
Why Moneycorp?
Security and savings for all our clients
An Efficient Service
Opening a trading facility with Moneycorp is a straightforward process and should take no more than a few minutes of your time.
A Proactive Service
Your Account Manager will monitor the currency markets on your behalf and update you accordingly, providing information on the best time to buy and sell.
A Comprehensive Risk Management Service
We help protect you from adverse currency movements.
A Fast Service
Transactions are processed more swiftly than within the UK banking system, with instant telephone trading and efficient worldwide transfers.
Extended Trading Hours
We offer 24-hour trading using market orders, allowing you to benefit from exchange rate movements outside normal banking hours. Our office opening hours are 7:30am to 10:30pm Monday to Friday and 10:00am to 4:00pm on Saturdays.
Competitive Rates
We will secure excellent exchange rates for you, whenever you trade.
Market Updates
Should you wish it, we will send you daily and/or weekly market updates, keeping you in touch with the latest information on market movements.
An Established Service
Established for over 29 years, we handle transactions exceeding £10 billion per annum on behalf of clients. Moneycorp offers you the peace of mind that results from dealing with a reputable and secure business partner. The company has top ratings from leading credit rating agencies and has been certified to the ISO 9000 Quality Assurance since 1996.
Customer Service
Moneycorp is dedicated to anticipating and meeting its customers’ needs. It is our priority to get you the most competitive exchange rates available and to give you an unrivalled level of customer service. It pays to use the experts.