moneycorp Review 92

Score
92
Currencies
20+
Speed
1-2 Days

Company Information

Moneycorp is regarded as one of the leading providers of Forex services in the United Kingdom. It has been operational for 35 years + and is dedicated to service delivery for personal and business money transfers. The company’s brand values are vested in their vision of becoming the #1 selection for international money transfers and Forex services. Further, Moneycorp espouses the highest levels of integrity, trust and transparency with its clientele. In 2016, Moneycorp conducted 7 million customer transactions, with payments provided to 175 countries. Moneycorp is fully licensed and regulated by the Financial Conduct Authority (FCA), via requirements set out by the Payment Services Regulations.

 

Client funds are maintained in segregated accounts, to protect against liquidation, or claims against the company. The company that runs Moneycorp, TTT Moneycorp Limited is fully licensed and regulated by the FCA to provide payment-related services. Further, Moneycorp FRM is authorised to provide investment business courtesy of the FCA. Moneycorp is rated 5A1* by Dun & Bradstreet, and the maximum credit rating for this company by D & B is £23,333,500. The annual report of the company for 2016 indicated that the Forex flow amounted to £24.6 billion, with a gross operating profit of £139 million. Personal and business services are protected against loss, owing to SSL security, encryption protocols, and a high degree of credibility in the financial markets for this company.

How Moneycorp Works

MoneyCorp Registration

Personal and business clients can conduct personal transfers as a one-off payment, make regular payments, or simply transfer money online at will. There also corporate solutions for trading purposes. Moneycorp offers global payment solutions, Forex solutions, business partnerships, and wholesale currency services. To get started, simply complete a quick and easy registration. 

For info on personal transfers, simply contact the customer support representatives between 7:30 AM and 9 PM Monday through Friday, and from 9 AM through 1 PM on Saturdays at the following number: 020-7589-3000. For corporate solutions, clients are required to contact the customer support team between 7:30 AM and 6 PM Monday through Fridays at the following number: 020-7823-7400.

The registration process for personal and corporate account clients requires simply entering personal information such as your email address, first name and last name. Next, you will be required to enter information about yourself, including your username/password combination, security questions, and your country of residence.

You will be asked to input your currency requirements – the currency you need and how much you will typically transfer in a calendar year. You must agree to the T & C of Moneycorp, and whether you would like to receive additional information on market news, reviews and tips, or whether you would like your contact information to be shared with third parties. Once you have verified your data, you’ll be able to deposit and transfer money as a personal, or corporate account holder.

Some Background

Moneycorp are regarded as one of the UK’s premier international money transfer companies. They provide a host of services for individuals and corporations. Based on independent customer feedback from 4987 reviews, Moneycorp has a 97% rating. As at December 31, 2016, the company’s net currencies traded amounted to €26.6 billion. The company was founded in 1962, and by 1979 received a license to operate a foreign exchange Bureau in central London, courtesy of the Bank of England. It is highly regarded as a wholesale Forex service, a retail bureaux de change for multiple locations across the UK, and a commercial hub of Forex trading activity for private and corporate clients. After 2005, the company opened an office in Florida, USA, and currently has operations in France, Ireland, and Spain. Last year, the company conducted 7.2 million transactions in 90 currencies, worth an estimated $32.9 billion.

Is Moneycorp Safe and Reliable

Safety and security are paramount for corporate and personal clients at Moneycorp. Whether you’re transferring small amounts or large amounts, you are always protected with the highest encryption protocols and security systems. For starters, Moneycorp boasts the following credentials:

  • Comodo Secure Operations
  • 97% Feefo Customer Service Rating
  • TTT Moneycorp Ltd is registered in England under the following registration #738837 with VAT registration #897-3934-54
  • In the United States it is registered under FinCEN registration #310-0008-204-1830
  • FCA licensing and regulation for TTT Moneycorp Ltd
  • Segregated accounts for Moneycorp and personal/corporate clients

Transfer Speed

International currency transfers with Moneycorp are possible with 2 options. These include the standard option, and express option. The cost-effective option is a standard option however, the express option is a quicker choice. The delivery time for standard money transfers ranges between 2-4 days. The delivery time for the express option is 0-2 days.

Why Use Moneycorp

  • 100% safe and secure to transfer FX abroad
  • Full FCA licensing and regulation for money transfer services for personal and corporate clients
  • Safe, convenient, and user-friendly online services for currency transfers
  • Established reputation and a wide range of internationally successful partners including The Telegraph, Virgin Atlantic, the Daily Mail.
  • Over 30 years of money transfer services experience, with millions of transactions conducted annually.
  • Transfers can be completed via the express option (0-2 days), with a standard option (2-4 days).
  • Ideal for personal, or business money transfer services.

Services Available

  • International money transfers and payments
  • Competitive Forex rates, and rapid transfers
  • Quick payments via the spot contracts option
  • Automated international payments for added convenience
  • Personal advisors for all aspects of Forex trading/transfer activity
  • Expert advice on Forex services with personal account managers
  • Personal money transfer services and corporate money transfer services

Money Transfer at Your Fingertips

Moneycorp is the quick, easy, safe & secure way to transfer money seamlessly. The 24/7 fixed-fee global money transfers can be concluded in just 3 minutes or less. All that’s needed is the completion of an online form. A maximum of 4 days is required for the standard transfer, while a maximum of 2 days is applicable to express options. It’s easy to get started by simply contacting an advisor online, or via email or telephone.

Moneycorp Customer Support

Clients can contact customer support in multiple ways. Physical locations are available in several countries, including the US, the UK, France and Ireland. There are also email options, and telephone (toll-free included) numbers to speak to customer service representatives. The telephone number is: 020-7589-3000, and from outside the United States, the number is +1-407-352-5890. The toll-free telephone number is 877-252-8232. You can contact customer support any time from Monday through Friday between the hours of 8 AM and 5 PM.

Bottom Line

Moneycorp is a fully licensed, regulated and authorized provider of personal and company FX services. It has FinCen approval and FCA approval to provide Forex services. The company boasts an impressive €26.6 billion in currencies traded in 2017, with some 7.2 million customer transactions. The company now has 760 employees globally and deals in 90+ currencies around the world.

Pros

  • Full FCA licensing and regulation
  • Well-established company (Incorporated in 1962)
  • User-friendly platform for PC, Mac, Android and iOS
  • Regular financial market updates with daily analysis, expert panels, and a blog

 

Cons

  • The minimum amount you can transfer must be at least £50
  • Exchange rates are not always the best in the market