Moneycorp (Foreign Exchange)
Moneycorp can save you money by offering the most competitive exchange rates available on all your international payments. Moneycorp provide foreign exchange and international payment services for both businesses and individuals.They try to make these as easy as possible every time you make a currency transfer. Moneycorp offer free information and guidance on the markets, helping you decide on the best time to buy your currency. Fill out the application form and a broker will contact you to explain the money transfer process.
Credit Rating: AA
Location: South Africa, UK, USA, Australia, Spain, Portugal, Dubai, Turkey and Cyprus
Languages: English
1. Their market expertise will get you the best exchange rate available, saving you money.
2. They can fix an exchange rate that will be valid up to two years, so you will know exactly how much foreign currency you will receive
3. Extended trading hours: 7:30am to 10:30pm Monday to Friday and 10:00am to 4:00pm on Saturdays.
4. You will have no commission charges or receiving bank fees to pay
5. Moneycorp has been trading currencies since 1979, has been certified to ISO 9000 Quality Assurance since 1996 and last year traded over £11 billion in currencies.
6. The security of having The Royal Bank of Scotland (RBS) as a significant shareholder in the Company.
7. Moneycorp is a member of SWIFT (Society for World-wide Interbank Financial Telecommunications), the global platform for instant wiring of domestic and international money transfers. This provides you with increased speed and efficiency as well as more control over your transfers.
8. There is no cost and no obligation in opening a Trading Facility.
9. They offer a Regular Payment Plan (RPP) service to manage your regular overseas transfers, the minimum monthly amount that you can send is $250.
10. Moneycorp's flexibility means they can tailor their services to meet any foreign exchange requirement.
1. Minimum volume is R31,700 on one off transfers
1. Regular Payments.
2. Forward Contacts.
3. Spot Contracts.
4. Stop Loss Orders.
5. Limit Orders.
6. Hedging strategies.
7. Currency Options.

Established: 1979 FCA 308919
Spread/Margin: 0.25-1%
Costs/Fees: R0 above R31,700
Rate Improved With Volume: Yes
Transfer Methods: International Transfers
Transfer Speed: Usually, transfers to Western Europe and the US are made the same day. Funds travelling further east take 2 days.
Transfer Minimum: R31,500
Trust Accounts: WESTPAC Trust Accounts

Online Trading Platform: No
Currency Converter: Click Here >>

Forward Contracts From Moneycorp A forward contract allows you to fix an exchange rate at which you buy or sell currency for delivery at a later date (up to two years).
Forward contracts protect against adverse currency movements and can be used to lock into favourable exchange rates. Forward contracts will usually require a deposit of 10%, with the remainder payable on the contract maturity date.
Hedging Service From Moneycorp
Foreign exchange options
A foreign exchange option provides the right – but not the obligation – to enter into a foreign exchange contract at a known exchange rate on a known future date.
In many ways, an option is like an insurance policy*, where you pay a premium to protect against a ‘worst case’ rate (the strike rate of the option) – but there is still the potential to benefit if market rates move in your favour. Options provide a guaranteed future rate of exchange. Unlike a forward contract however, your business is not obliged to deal at that rate. If the market rate is in your favour when an option matures, you can let it lapse and choose to deal in the ‘spot market’ at the more favourable rate.
Options could be suitable if you:
• need to protect yourself from adverse currency movements;
• are not in a position to place the deposit required for a forward contract; or
• want to fix a known ‘worst case rate’ with the opportunity to book a spot contract, if the market moves in your favour.
Why buy options from Moneycorp?
Options are one of the many types of contract we offer to help our clients manage their foreign exchange exposure. Options are a type of derivative and before you can deal in them, we will make an assessment as to whether they are appropriate given your circumstances. Whilst most banks will only provide these products to larger companies, Moneycorp offers options – at competitive prices – to a variety of clients, including private individuals and SMEs.
For over 30 years, Moneycorp has been delivering innovative, industry-leading financial solutions. As the marketplace becomes increasingly sophisticated, we continue to focus on developing long-term relationships with our clients and on employing the right expertise to meet and exceed their expectations.
* Foreign exchange options are not pure protection insurance policies or general insurance policies as defined by the Financial Services Authority. This financial promotion is issued by TTT Moneycorp Limited (Moneycorp). Foreign exchange options can carry a high level of risk to your capital and are not suitable for everyone. You should seek independent advice if necessary. TTT Moneycorp Limited is authorised and regulated by the Financial Services Authority for the conduct of designated investment business and for the provision of payment services. TTT Moneycorp Limited is a company registered in England under registration number 738837. Its registered office address is 2 Sloane Street, London, SW1X 9LA.
Regular Payments:
Regular Payments From Moneycorp
The Regular Payment Plan from Moneycorp is a leading service for the secure and efficient processing of regular overseas money transfers.
The service is specifically tailored for:
1. Overseas mortgage payments
2. Property maintenance
3. Cost of living expenses
The service is fully automated and takes the hassle out of regular overseas transfers. Moneycorp collect your Sterling by Direct Debit and automatically send the foreign currency overseas.
The service consists of the following features:
1. Three contract options for total flexibility
2. Flexible plan frequency to meet any client needs
3. A dedicated team to help clients set up their plans
4. A simple and efficient set-up process.
5. Automated Direct Debit to collect payments
6. Multiple delivery options for settlement of client funds overseas
7. Automated exception processing for maximum efficiency
8. High quality management information for personal finance reconciliation
Benefits to you include:
1. Highly competitive exchange rate, making your money go further
2. No commission or receiving bank charges
3. Ability to fix exchange rates for a set time period, helping you to protect against adverse movements in the currency markets
4. Choice of three plan options to suit your requirements
5. Flexible frequencies (ranging from weekly to annual)
6. Premium service option for same-day or next-day transfer
Security Statement:
When clients transfer money abroad through Moneycorp, their funds go straight into a designated Client Account held with one of our partner banks. These accounts are completely separate from the Group’s bank accounts and at no time is this money used by the Group or considered part of the Group’s assets. The Royal Bank of Scotland (RBS) is also a significant shareholder in the Group.
Terms and Conditions:
Transactions can only be booked verbally where the exchange rate is agreed. Once a deal is booked, a client will be sent a contract note by email, fax or post as confirmation.

Number Of Currencies: 76
Currencies Available:
1. Australia AUD Australian Dollar
2. Bahamas BSD Bahamas Dollar
3. Bahrain BHD Bahrain Dinar
4. Barbados BBD Barbados Dollar
5. Belize BZD Belize Dollar
6. Bermuda BMD Bermudian Dollar
7. Botswana BWP Botswana Pula
8. Brazil BRL Brazilian Real
9. Brunei BND Brunei Dollar
10. Canada CAD Canadian Dollar
11. Cayman Islands KYD Cayman Dollar
12. Croatia HRk Croatian Kuna
13. Cyprus CYP Cyprus Pounds
14. Czech Republic CZK Czech Republic Koruna
15. Denmark DKK Danish Kroner
16. East Caribbean XCD East Caribbean Dollar
17. Estonia EEK Estonia Kroon
18. Eurozone Countries EUR Euro
19. Fiji FJD Fiji Dollar
20. Guyana GYD Guyana Dollar
21. Hone Kong HKD Hong Kong Dollar
22. Hungary HUF Hungarian Forint
23. Iceland ISK Icelandic Krona
24. Israel ILS Israeli Shekel
25. Jamaica JMD Jamaican Dollar
26. Japan JPY Japanese Yen
27. Jordan JOD Jordanian Dinar
28. Kenya KES Kenyan Shilling
29. Kuwaiti KWD Kuwaiti Dinar
30. Latvia LVL Latvian Lats
31. Lithuania LTL Lithuanian Litas
32. Maltese MTL Maltese Lira
33. Mauritius MUR Mauritius Rupee
34. Mexico MXN Mexican Peso
35. Morocco MAD Moroccan Dirham
36. Namibia NAD Namibia Dollar
37. Netherlands ANG Nethln Antil Guilders
38. New Zealand NZD New Zealand Dollar
39. Norway NNOK Norwegian Kroner
40. Oman OMR Omani Rial
41. Peru PEN Peruvian Nuevo Sol
42. Poland PLN Polish Zloty
43. Qatar QAR Qatar Riyal
44. Romania RON Romanian Lei
45. Saudi Arabia SAR Saudi Arabian Riyal
46. Singapore SGD Singapore Dollar
47. Slovakia SKK Slovakia Koruna
48. South Africa ZAR South African Rand
49. Sweden SEK Swedish Krona
50. Switzerland CHF Swiss Franc
51. Thailand THB Thai Baht
52. Trinidad TTD Trinidad & Tobago Dollar
53. Tunisia TND Tunisian Dinar
54. Turkey TRY Turkish Lira
55. United Arab Emirates AED UAE Dirham
56. United States USD Us Dollar
57. Uruguay UYP Uruguay Peso Currencies Moneycorp Only Sell
58. Algeria DZD Algerian Dinar
59. Egypt EGP Egyptian Pound
60. Ghana GHC Ghana Cedi
61. India INR Indian Rupee
62. Indonesia IDR Indonesian Rupiah
63. Kazakhstan KZT Kazakhstan Tenge
64. Malawi MWK Malawi Kwacha
65. Mazau PatacaMOP Macau Pataca
66. Nepalese NPR Nepalese Rupee
67. Nigeria NGN Nigerian Naira
68. Papua New Guinea PGK Papua New Guinea Kinar
69. Parkistan PKR Pakistani Rupee
70. Philippine Peso PHP Philippine Peso
71. Russia RUB Russian Ruble
72. Seychelles SCR Seychelles Rupee
73. Sri Lanka LKR Sri Lankan Rupee
74. Tanzania TZS Tanzanian Shilling
75. Uganda UGX Ugandan Shilling
76. Zambia ZMK Zambian Kwacha
Moneycorp (Which Way To Pay - 13/1/2014)
Moneycorp is ranked 4 out of 5. Based on 1 review.

4 Star Rating

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