UK Post Office Review 77

Score
77
Currencies
20+
Speed
1-2 Days

Overview

There are several travel money options available at the UK Post Office, including the following: New Travel Money Card, Foreign Currency, Click & Collect Express. With the UK Post Office, Travel Money is a convenient way to convert up to 80 currencies, including exotic options like the Vietnamese dong, to mainstream currencies like the Australian dollar.

When you send money overseas through the UK Post Office, you are privy to competitively priced Forex rates, provided you send at least £50. It is also possible to fix the exchange rate through the UK Post Office for up to 12 months into the future. This is a safeguard against currency depreciation, notably Brexit-related concerns. The UK Post Office provides a wide range of money transfer services, tools and resources. These include Travelers Checks, Competitively Priced Exchange Rates, an FAQ Section on Travel Money, Travel Money Cards, and more. The currency converter at works with up to 70 different currencies for mobile devices – Android and iOS smartphones and tablets. Additionally, the UK Post Office money transfer/remittances program has been voted the Winner of Best Foreign Exchange/Travel Money at the British Travel Awards for 2017.

How Post Office Works

The UK Post Office provides many ways for customers to send money. For starters, it is quick and easy to purchase travel money over the Internet. Once you have completed the online purchase, you can click & collect the funds from a post office branch near you on the next day. UK travel money is available at 11,500 post office locations across the United Kingdom. The hours of operation are from 7:30 AM through 10:30 PM Monday through Friday. Plus, there are some 3,000+ branches that are operational 7 days a week. Travel Money services through the UK Post Office are competitively priced. There are no commissions and next day delivery. The rates you can receive with the UK post office depend on how much you are spending in GBP. The higher your expenditure, the better the conversion. Typical currency options available are United Arab Emirates Dirham, the Swiss franc, the US dollar, the Australian dollar, and the EUR.

When you’re sending money, you can use your Travel Money Card everywhere MasterCard is accepted. The minimum purchase amount is £50 and the maximum is £5,000. This service is available through the branch, online, or through your smartphone. When you purchase foreign currency, you have 80 FX pairs to choose from. When you order before 3 PM on a workday, the Forex will be available the next business day. The minimum purchase amount online is £400 and the maximum is £2500, but there are no minimum purchase amounts at a UK Post Office. Another useful option available to clients is the Click & Collect Express option. This option is available for purchases of £400-£2500 online, or at a branch.

International payments through the UK Post Office are fee free, fast, and ironclad. The UK Post Office offers competitively priced exchange rates and promises to beat the bank rates. Post Office Money® international payments are easy to get set up. You can transfer money abroad at the click of a few buttons, for remittance purposes for friends and family. Whether you need to pay an overseas supplier, pay for your mortgage back home, or send funds to friends and loved ones, you can transfer GBP into virtually any currency around the world. The steps needed for this international money transfer service are as follows: use the currency converter to choose your currency and the amount you have available for transfer. Next, you will be required to select the receiver’s currency. There are multiple options available. As soon as you input the currency pairs, you will see the exact exchange rate provided by the UK Post Office international payment system.

There are a wide number of payment options available to you when you use the UK Postal Services. All international money transfers can be conducted by PC, Mac, Android or iOS device. If you wish to transfer £20,000 +, it’s best to speak to customer service representatives at the UK post office to see if they can get you a better rate. All payments can be made via bank transfers, credit cards, or debit cards (they must be licensed in the UK). As mentioned earlier, one of the biggest benefits of sending money through the UK Post Office is that you can lock in exchange rates for a period of 12 months. This saves you money, especially in the highly volatile world of Forex transfers. The money transfer services provided by the UK post office are made courtesy of Moneycorp. This FCA (Financial Conduct Authority) licensed money transfer company operates under FRN 308919 and encryption is provided by Symantec SSL security to ensure the integrity of all international money transfers.

Ways of Receiving Money With Post Office

The UK Post Office Works with MoneyGram to facilitate rapid money transfers internationally. Clients can enjoy competitive exchange rates and low fees, and there’s also a MoneyGram Plus Card that is exclusively provided for post office customers. It is possible to transfer money and receive money in 200+ countries around the world at 11,500 post office branches. There are 350,000+ locations outside of the UK which allow you to receive your money. Better yet, the money is available within minutes, and it can be transferred direct to a receiver’s bank account in specific countries. The steps required to register for MoneyGram at a local post office include frequenting a branch of your choice with a government-issued ID, complete a money transfer form, make your payment with debit cards, or UK approved credit cards, get in touch with the recipient of the funds and give them the reference number. Receiving money is easy. The 3-step process requires you to have your reference number, government-issued ID such as a national ID card, passport, driver’s license, or voter registration card, and then you simply collect your funds. If the amount of money that you are receiving is greater than £800, MoneyGram requires you to upload an image of your ID document. This is a one-time requirement.

Why Use the UK Post Office

The UK Post Office is one of the most trusted ways to send and receive money internationally. Not only do they work with reputable international money transfer partners such as MoneyGram and Moneycorp, these companies are also FCA regulated. The exchange rates, fees and commissions are better than the rates offered through banks and financial institutions, and you can lock in an exchange rate for up to 12 months to guard against currency market volatility. The UK Post Office is a veritable UK institution. It is trusted by millions of Britons and people outside of the UK as a delivery-oriented institution. Customer service at the UK Post Office is second to none, and this Wales & England regulated company complies with all rules and regulations, and offers unbeatable rates on money transfers.

How Much Does it Cost to Use UK Post Office

According to the UK Post Office website, international transfers from your online account on mobile, PC, desktop or Mac are fee free. International remittances can be transmitted online over the telephone. You can use a you UK registered debit card or credit card for transfers up to £70,000, but you will need a CHAPS or BACS for any amount greater than that. Remittances for regular payments, account transfers, monthly rent payments and other options can be made via direct debit.

Transfer Speed

For travel money, you can expect next day delivery. For foreign currency, if you order before 3 PM on a workday, you’ll receive the money the next working day to your home or a UK post office branch near you. Click & collect express services for buying foreign currency allows you to collect within 2 hours from a local post office. It is best to contact customer support for the delivery times for the specific international money transfer service you are requesting.

Is UK Post Office safe and Reliable

Yes. All international remittances and online money transfer/land-based money transfers internationally are 100% safe and secure at the UK Post Office. The money transfer companies are all FCA regulated (Financial Conduct Authority), and protected against fraud, and third-party interception of your data.

UK Post Office Apps

The UK Post Office provides apps for all online international money transfer services. You can download the apps at the Google Play Store, or the App Store at your leisure.

UK Post Office Customer Support

The UK Post Office offers high-quality customer support to clients. You can contact the customer support team between Monday and Friday from 8 AM through 10 PM, or from 8 AM through 6 PM on Saturdays. Sunday and bank holidays offer support between 10 AM and 5 PM. The telephone number is 0345-266-8977. For account-security-related questions, you can access the customer support toll-free number 24 hours a day at 0800-169-2646. Additional customer support options are available through Facebook, YouTube and Twitter, and the post office FAQ section.

Bottom Line

The UK Postal Services offers a wide range of money transfer options, banking options and the like. Whether you are sending GBP domestically, or internationally to be collected by friends, family, business partners, acquaintances, or other people, the international money transfer services provided by the UK Post Office are second to none.

 

 

Pros

  • Bank Beating international exchange rates
  • No Fees on Transfers
  • Multiple options for transferring money (debit card, credit card, post office account, or bank transfer)
  • Great security protocols
  • £20 Post Office Gift Card for international payments friend referrals

 

Cons

  • Not always the best rates compared to other money transfer companies
  • The FAQ section does not provide specific information for online money transfers