Money Transfer FAQs

Frequently asked money transfer and CurrencyTransfer.com product questions. No spin. No Jargon

Our Product

	What is CurrencyTransfer.com?
	How is CurrencyTransfer different to other money transfer companies?
	How do your FCA regulated money transfer companies contribute rates to CurrencyTransfer?
	Who can use the CurrencyTransfer.com marketplace?
	How much can I save on the CurrencyTransfer money transfer comparison platform?
	How much does it cost to use CurrencyTransfer?
	Why should I use CurrencyTransfer instead of going to a bank or broker?
	Is there a minimum or maximum transfer amount?
	Can I choose which currency specialist I open an account with?
	Why have you chosen not to be whole of market comparison?
	How do you guarantee the best currency transfer rates?
	How do banks make money on international money transfers?
	How is CurrencyTransfer different to Transferwise?
	If CurrencyTransfer was an airline, which one would you be?

Booking Trades

	How do I make international business payments with CurrencyTransfer.com?
	How do I make an international money transfer with your panel of currency brokers?
	Can I make transfers from a joint bank account?
	What documents may I need when making a large money transfer?
	What hours are the marketplace open?
	Are there any transfer fees?
	Can I send foreign currency to more than one recipient?
	Do you accept credit card or debit card settlement?
	Do you support Bitcoin transfers on CurrencyTransfer.com?

Customer support

	How does the registration and on-boarding work?
	How do I setup a new currency transfer?
	What bank account details do I need to make an international money transfer?
	Why do I need to do compliance checks when making a money transfer?
	When will my international payment go out to my recipient?
	Can I speak to someone at CurrencyTransfer if I need to?
	Does your comparison platform support individual money transfers?
	When is your online money transfer marketplace open?
	What’s the difference between a personal and business money transfer?

Traded Currencies

	What are the ISO Currency Codes for Currencies of Different Countries?
	Which countries can I pay into as a local bank transfer?
	Is it possible to draw down a forward contract on the marketplace?
	How do I make a complaint?
	How long does it take to make an international money transfer?
	Why don’t I need an IBAN or SWIFT for money transfers to the UK?
	Can I track the status of my international money transfer?
	How do I set up live trading to make international transfers and what’s the timeframe?
	How do I allocate where I want to send funds to?
	Can I contact someone regarding my transfer?
	What delivery date should I select?
	Can I make a bank transfer from an account that is not in my name?

Verification

	How does business verification work?
	Can you electronically verify my business?
	What verification requirements do I need to provide to open my business account?
	Why do Marketplace Payment Partners need to verify my ID?
	What ID verification do I need to provide?
	What Proof of Address verification do I need to provide and what is acceptable?
	Why do I need to provide payment reason verification?
	Am I able to cancel or get a refund on my transfer?
	How can I protect myself against adverse currency fluctuations?
	Do you guarantee an exchange rate when I book an international transfer?

Regulation

	How safe is CurrencyTransfer.com?
	Can I trust your FCA regulated payment partners?
	Do your panel of currency brokers hold funds in segregated client accounts?
	What does FCA Authorised Payment Institution mean?
	Do you accept small payment institutions on the marketplace?
	How reliable and vetted are the money transfer companies on your marketplace?

Jargon Busters

	What is an IBAN number?
	What is SWIFT?
	How do I make SEPA Transfers?
	How do I make a US Dollar money transfer?
	How do I make a Euro international transfer?
	What is a spot contract?
	What is a forward contract?
	What is a beneficiary / recipient?
	What does sell currency mean?
	What does buy currency mean?
	What is a BIC code?
	What is an ABA number?
	What is faster payments?
	What is the FCA?
	What does 0% commission money transfers mean?
	What is a honeymoon rate?
	What factors affect exchange rate movements?

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Money Transfer FAQs

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