In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
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You could save money using the services of Moneycorp’s exchange experts

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Moneycorp

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Minimum Transfer Amount
$1
Maximum Transfer Amount
No limit
Fastest Transfer Speed
24 hours
Receiving Options
Bank account
Available Currencies
AED, AUD, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, INR, JOD, JPY, KES, MAD, MXN, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, THB, TND, TRY, USD, ZAR

Our verdict

Moneycorp can give you a bank-beating rate so you can save on foreign exchange to over 30 different currencies.

Moneycorp gives you a bank beating exchange rate and a flat fee for regular and express overseas money transfers. It offers travel money services too; however, foreign cash and the prepaid travel money card are available to residents in the UK only.

Moneycorp’s real downfall is its double charge when converting currencies – your dollar payment must first be converted into GBP and then into your desired currency. In addition, MoneyCorp isn’t the fastest, standard deliveries take 2-4 business days and you’ll need to pay for the express option to get your money in less than two business days.

That said, there’s no transfer limit when dealing with Moneycorp on the phone and you can make one-off payments, recurring payments, forward contracts and market orders. Sign up is also easy and can be completed within minutes.

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews

Moneycorp is a United Kingdom based foreign exchange company providing one off, recurring and market order international payments. And they’ve been doing this since 1979.

Details

Product details

Product Name Moneycorp
Pay By Bank transfer
Receiving Options Bank account
Customer Service Phone, Email, In person
Available Currencies AED, AUD, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, INR, JOD, JPY, KES, MAD, MXN, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, THB, TND, TRY, USD, ZAR

What currencies does Moneycorp offer

Moneycorp allows you to transfer all the major currencies, including the following:

  • EUR (Euro)
  • GBP (Pound Sterling)
  • AUD (Australian Dollar)
  • USD (United States Dollar)
  • CZK (Czech Koruna)
  • DKK (Danish Krone)
  • HKD (Hong Kong Dollar)
  • HUF (Hungarian Forint)
  • JPY (Japanese Yen)
  • NZD (New Zealand Dollar)
  • NOK (Norwegian Krone)
  • PLN (Polish Zloty)
  • SEK (Swedish Krona)
  • SGD (Singapore Dollar)
  • ZAR (South African Rand)
  • CHF (Swiss Franc)
  • THB (Thai Baht)
  • AED (UAE Dirham)

Other exotic currencies

As well as the above currencies, you can also make an international payment in these exotic currencies.

BHD (Bahrain Dinar)MXN (Mexican Peso)TND (Tunisian Dinar)
ILS (Israeli Shekels)OMR (Omani Rial)TRY (Turkish Lira)
JOD (Jordanian Dinar)QAR (Qatari Riyal)ZAR (South African rand)
KWD (Kuwaiti Dinar)RON (Romanian Lei)
MAD (Moroccan Dirham)SAR (Saudi riyal)

Unavailable countries

You’re unable to send a payment to some countries in Australasia. You may want to consider an alternate money transfer service if you want to send money from Canada to the following countries.

  • Fiji
  • Papua New Guinea
  • Philippines
  • Indonesia
  • Vietnam
  • South Korea
  • Vanuatu
  • Kuwait
  • Lebanon
  • Solomon Islands

How much does it cost to transfer money with Moneycorp?

For personal payments made online, Moneycorp charge a flat fee for regular and express transfers. You’ll pay £5 for regular payments (about $8.50 CAD) and £9 for express payments (about $15 CAD). If you’re using Moneycorp to make recurring payments, the charges are a little different. Regular payments cost £4 for each transaction (about $6.70 CAD) and express recurring payments cost £8 each payment (roughly $13.50 CAD).

Minimum transfer amount

Moneycorp lets you exchange Canadian dollars to up to 33 different international currencies. You can send as little as £50 (about $84.20 CAD) for one off payments and £250 (about $421 CAD) for recurring payments.

Banned countries

As these countries have international sanctions in place, you can’t send money to the following countries at all.

  • Afghanistan
  • Central African Republic
  • Crimea & Sevastopol
  • North Korea
  • Democratic Republic of Congo
  • Iran
  • Iraq
  • Libya
  • Burma
  • Somalia
  • Sudan
  • Syria
  • Sierra Leone

What types of transfers can you carry out with Moneycorp?

Moneycorp lets you transfer money in the following ways:

  • One off payments. Also called a spot transfer, make a one off online payment of £50 or more. A flat transfer fee applies based on how quickly you want the funds delivered. Choose from regular or express delivery.
  • Regular payments. Make regular payments every week, month or quarter. Lock in a rate or choose to get the rate at the time of the transfer. Transfer £250 or more each time you make a recurring payment.
  • Forwards contracts. Lock in an exchange rate for up to 2 years in advance.
  • Market orders. Target a rate in the future and execute the trade when you get your desired rate.

The registration and transfer process

You will need to register for a free account before you can send money overseas with Moneycorp. You can create an account in 3 easy steps.

  • Step 1: Enter your personal information, your contact details, the currency you have, the currency you want and the reason for your money transfer.
  • Step 2: Provide your date of birth and address.
  • Step 3: Create your login details. Pick a username and a password and check your email for your account activation code.

You’re then required to verify your identity and address by providing Moneycorp with a copy of your passport or driver’s licence and utility bill. Note: online statements and mobile phone bills will not be accepted. You can use your driver’s licence to verify your identity as well as your address.

How do I initiate a transfer?

Once you’ve registered and verified your account, you can transfer money online or over the phone. It’s more expensive to request a transfer over the phone.

Moneycorp is a UK company. There may be issues for Canadian users sending money to the UK, namely the time it takes to send funds to Moneycorp and an additional currency conversion fee. You will need to send funds to Moneycorp via a SWIFT payment, which can take up to 3 business days to clear.

You’ll need to provide the Bank Identifier Code (BIC) and the SWIFT code for the recipient’s bank account. You’ll also need to provide the International Bank Account Number (IBAN) for payments to the European Union.

What’s the good and bad of using Moneycorp?

The good

  • It offers bank-beating rates. Moneycorp offer a bank beating exchange rate. It also offers personal and business transfers to suit your needs.
  • Its earned a 5 Star feefo rating. Moneycorp has a feefo 5 star rating. 80% of reviewers rate Moneycorp as excellent.
  • You can transfer money anytime, anywhere. Moneycorp is available online 24 hours.

The bad

  • Indicative rates. The exchange rates quoted by the Moneycorp exchange rate calculator on its website are indicative rates only. These rates are based on the interbank rate and are not the deal you’ll get when you send money overseas using Moneycorp — they apply a small margin to the interbank rate.
  • Double currency conversion. Funds will need to be converted to pounds when a payment is made to Moneycorp from Canada, and you’re charged for it. Converting a currency twice doesn’t make much sense when there’s a host of local based money transfer companies.

What other products and services does Moneycorp offer?

Moneycorp provides more than online foreign exchange services. Moneycorp issue foreign cash (airport pickup locations as well as delivery by Royal Mail) and a travel money card; however, these products are available to residents of the UK only.

  • Foreign cash. Order foreign cash online and collect the money from London & airport collections, or have the money sent an address in the UK.
  • Travel card. Moneycorp also issue the prepaid multi-currency Explorer Card, which can be loaded with foreign currency and used like a normal debit card outside the U.K.

How does Moneycorp compare to other providers?

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 8 of 8
Name Product _compare_ Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
24 hours
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Instarem
Within minutes
From $0
Use code HELLO to get $20 off on first two transfers on a min transfer of $250. Valid until November 30, 2023.
Instarem offers zero transfer fees on all transfers.
Africhange
Within minutes
From $0
Send money in CAD to Africa on this blockchain and P2P powered provider.
Remitly
Finder Award
Remitly
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within minutes
From $0
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
MoneyGram
Finder Award
MoneyGram
Within minutes
From $4.99
For a limited time, get $0 fees on your first money transfer from Canada. Conditions apply.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX
Finder Award
OFX
24 hours
$0
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
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