moneycorp 2018-01-21T02:48:40+00:00

moneycorp

moneycorp-review

moneycorp is a renowned name in the foreign exchange industry and ranked second largest in the UK with their presence in 7 countries. They have been part of the industry since 1979. Bridgepoint, a private equity firm, is the sole owner of moneycorp. moneycorp serves both the corporates as well as private individuals. They also provide easy currency exchange while you are travelling with a buyback guarantee without any commission. Simply book your travel money online and pick it up from the bureaux de change located at 5 major airports in the UK or 3 branches located in central London. You could also load up their pre-paid explorer multi-currency MasterCard to make your travel hassle free.

moneycorp has an average rating of 4.6/5 on Feefo by over 4,800 customers. The minimum transaction value is only £50, which makes it an ideal firm to connect with to transfer small amounts as well. Unfortunately, they do charge a transfer fee depending on the transaction speed, channel and frequency, ranging from £5 to £15, which is a lot as compared to other market players. They deal with only 33 currencies, which is also quite a restriction. But being an old-timer in the industry they do have a lot of experience and knowledge to make sure their customers are always benefited.

Visit moneycorp
www.moneycorp.com
Founded: 1962
Headquarters: London, UK
Offices: UK, Spain, USA, France, Romania, Australia, Ireland
Regulated by: FCA, ASIC
Trading channels: website, mobile app

reviews on feefo

feefo-5

4.7/5 Excellent

moneycorp Key Features

Pay-in Options bank transfer, debit card, credit card
Recipient’s Options bank account only
Min Transfer Amount £50
Max Transfer Amount £300,000 via bank transfer
Speed most transfers are completed in 1-4 days
Transfer Fees no fees on all transfers
Exchange Rate HiFX claims a bank-beating exchange rate
Currencies Available 142 currencies

moneycorp Review

Transfer Fees

HiFX claims they charge no transfer fees on all transfers.

However, you still have to be aware some other fees which HiFX are not liable for when sending money to them.  HiFX encourages you to pay by bank transfer or debit card. But before you start to fund HiFX, you need to check with your sending bank and the receiving bank, as they may charge some fees. Credit card transactions will cost you an additional fee of 1.6% of total amount.

Exchange Rate

HiFX offers bank beating exchange rate which is very competitive. This rate varies by type of currency. Therefore, the markup from NZD to USD, for instance, is 1% more than mid-market rate. The average markup on exchange rate tends to be 1.5%.

Speed

HiFX advises you 1-4 working days for the money to be delivered to recipient’s account. The method you use to pay HiFX will affect the whole processing time. Funding via credit or debit card results your money to reach HiFX immediately. Bank transfer usually takes up to 3 days for them to receive your money.

User Experience

HiFX’s customer service is 24/7 either by phone or email. Customers can complete their transfers on website or over phone. However, lack of mobile app makes HiFX far behind most competitors.

It is also un-convenient for clients when it comes to comparing transfer costs. You’re allowed to check exchange rate only after you logged into their website. That means you have to sign up for a free account first before you can compare and transfer. From our experience, it only takes a couple of minutes to finish register. But you’ll need to upload the following documents to be approved,

1 x Proof of Identity: passport, national ID card, or driver license.

1 x Proof of Address: recent utility bill or bank statement.

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moneycorp Pros and Cons

  • zero transfer fees on all transfers

  • 142 currencies and 170+ countries available

  • small limitation of £50 minimum transfer amount

  • 24/7 friendly UK based telephone support

  • website only, without mobile app

  • only registered clients are able to compare exchange rate

  • money account only for recipient, without cash pick-up

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