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Moneycorp offers 24/7 service and flat fees for international money transfers

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

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Moneycorp Limited, a business registered in the UK, began operations in 1962. The company started providing foreign exchange and currency in 1979. From its beginnings in a small office in central London, Moneycorp has become a business worth more than GBPÂŁ11 billion (NZD$21.6 billion) and in 2017 it handled more than 80 currencies. In addition to its network in central London, Moneycorp has offices in the US, France, Spain, Romania, Australia and Ireland.

While Moneycorp specialises in providing personal and business international money exchange services, it also offers wholesale and travel money services.

In 2017, Moneycorp carried more than 7 million customer transactions and exchanged in excess of GBP24.6 billion. Its business is regulated by the Financial Conduct Authority.

Residents of New Zealand can register with Moneycorp by visiting its website. Read on to find out if Moneycorp is the business to help you send money overseas.

Compare Moneycorp to other money transfer services

Use the currency transfer calculator tool below by entering the amount you want to send and choose the currency you are sending to.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,500 Same day NZD 0.00 0.697 USD
6,971
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
NZD 250 1 day NZD 0.00 0.697 USD
6,971
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
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NZD 0 Same day NZD 0.00 0.696 USD
6,964
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
NZD 2,000 2 days NZD 0.00 0.697 USD
6,971
Exclusive offer: $0 transfer fee and discounted exchange rates for all Finder customers.
A higher exchange rate applies to non-finder customers. Send money in more than 60 currencies.
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NZD 250 1 day NZD 0.00 0.697 USD
6,971
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply. Go to site Show details
NZD 1 Within an hour NZD 3.99 0.696 USD
6,957
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details
AUD 250 1 - 2 days NZD 15.00 0.697 USD
6,960
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. Go to site Show details
NZD 1 1 - 2 days NZD 80.00 0.7 USD
6,943
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
NZD 5 1 - 2 days EUR 3.00 0.694 USD
6,944
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
NZD 10,000 1 - 2 days NZD 0.00 0.694 USD
6,943
Shop around for the best exchange rate on CurrencyTransfer's online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Let’s take a look at Moneycorp’s exchange rates

The Moneycorp website lets you find out existing indicative exchange rates, based on interbank rates. You can use a currency converter or view results in the form of a table or chart.

The currency converter requires you to enter the currency you want to exchange and the currency you wish to receive, along with the amount. The result gives you an indication of how much money the recipient stands to receive. The chart allows you to view how any two currencies compare against each other over hours, days, weeks or months.

If you wish to view existing exchange rates, refer to the exchange rate table. It gives you the rates under the dedicated sections of majors, EU, Americas, Asia and Africa/Middle East. An example of the table appears below.

Buy currency Currencies Direct Rate Amount you get for NZD$1,000 Interbank rate
AUD (Australian Dollars) 0.8895 889.52 0.8932
CAD (Canadian Dollars) 0.8815 881.54 0.8835
EUR (Euros) 0.6019 601.87 0.6029
GBP (Pounds Sterling) 0.4683 468.32 0.4694
USD (United States Dollar) 0.6784 678.38 0.6794
AED (UAE Dirham) 2.4937 2493.7 2.4978
CHF (Swiss Franc) 0.6551 655.05 0.6591
CZK (Czech Koruna) 16.2489 16248.9 16.3272
DKK (Danish Kroner) 4.4863 4486.29 4.4965
HUF (Hungarian Forint) 184.9150 184915 187.1091
ILS (Israeli New Shekel) 2.6155 2615.47 2.6280
JPY (Japanese Yen) 75.4610 75461 75.7903
NOK (Norway Kroner) 5.6665 5666.45 5.7075
PLN (Polish Zloty) 2.5622 2562.2 2.5724
RUB (Russian Rouble) 45.4880 45488 46.4645
SEK (Swedish Krona) 5.5748 5574.85 5.5984
TRY (Turkish Lira) 1.9439 1943.86 1.9510
ZAR (South African Rand) 10.3297 10329.67 10.4001

The rates listed in the table are up to date as of 6 January 2018

How much will it cost you to transfer money with Moneycorp?

The fee you pay to send money through Moneycorp depends on the method of delivery, as well as the delivery time you choose. If you initiate a transfer online and opt for standard delivery (2-4 days) you will pay a fee of GBP5. Online transfers, with express delivery (1-2 days) cost GBP9. If you wish to transfer money over the phone, a GBP15 fee applies.

Moneycorp always lists delivery times in working days, which can vary depending on factors such as the currency and the destination bank. For example, express delivery with Indian rupees takes a minimum of two days.

What are the minimum transfer amounts and available countries you can send money to?

The minimum you can send through Moneycorp is GBP50 or its equivalent in another available currency, which includes New Zealand dollars. If you wish to send money using a regular payment plan, a minimum limit of GBP250 applies. The maximum you can transfer in a single transaction is GBP100,000.

The currencies you can send through Moneycorp include:

UAE dirham AED
Australian dollar AUD
Bahrain dinar BHD
Canadian dollar CAD
Swiss franc CHF
Czech koruna CZK
Danish krone DKK
Euro EUR
Pound sterling GBP
Hong Kong dollar HKD
Croatian kuna HRK
Hungarian forint HUF
Israeli shekel ILS
Jordanian dinar JOD
Japanese yen JPY
Kenyan Shilling KES
Kuwaiti dinar KWD
Mexican peso MXN
Norwegian krone NOK
New Zealand dollar NZD
Omani rial OMR
Polish zloty PLN
Qatari riyal QAR
Saudi riyal SAR
Swedish krona SEK
Singapore dollar SGD
Thai baht THB
Tunisian dinar TND
Turkish lira TRY
US dollar USD
South African rand ZAR
Romanian Lei RON

Types of transfers you can carry out with Moneycorp

You can turn to Moneycorp to send money overseas in three different ways.

  • One-off payments. Making one-off payments is easy. All you need to do is register for an account, speak to an account manager, agree to the exchange rate and initiate the transfer.
  • Target a rate. If you wish to make the most of fluctuations in foreign exchange rates, you can use Moneycorp for forward contracts and market orders. With forward contracts, you can lock in exchange rates for up to two years. Market orders allow you to target rates not currently available. The exchange is made when it reaches your desired rate.
  • Regular payments. You can use Moneycorp to make automated, scheduled payments. These can go out weekly, monthly or quarterly, as per your requirements.

How to make the registration and transfer process easier

If you wish to use Moneycorp to send money overseas, you have to register as a user first. You can do this easily by visiting the Moneycorp website. To complete the registration process, you will need to provide the following information:

  • Your name, phone number, email address and home address
  • Your date of birth
  • Currency to be exchanged
  • Currency to be exchanged to
  • Amount you will typically send
  • Destination country
  • Reason for transfer
  • A username and password

Once you are registered as a user, you can log in to the secure Moneycorp platform to send money overseas any time, 24/7. You also have the option of speaking to a Moneycorp representative over the phone to initiate a transfer. However, in this case you would have to call an Australian or UK-based number.

How long your transfer takes depends on the option you choose. With the express option, the money should reach the recipient within 1-2 days, and the standard option takes around 2-4 days. In some cases, turnaround time might be longer for the express option.

Moneycorp: the pros and cons

Pros

  • Transfer at any time. With access to the secure Moneycorp online platform, you can initiate a currency transfer at any time of the day or night, from anywhere. All you need is access to an Internet-enabled computer.
  • Flat fee. You don’t have to worry about paying a fluctuating fee, as per the amount of currency you wish to send. Instead, you simply pay a flat fee based on the transfer time you select.

Cons

  • No local support. You can get online support or speak to a Moneycorp representative over the phone by calling an Australian- or UK-based phone number. However, Moneycorp does not have offices in New Zealand and does not provide local phone support.

What other products and services does Moneycorp offer?

Moneycorp provides an array of corporate and travel money solutions.

  • Corporate. Businesses that deal in foreign exchange can benefit by working with Moneycorp. As a business account holder, you can hold balances in up to 32 different currencies. The services on offer for business clients include spot contracts, forward contracts and market orders. Through its wholesale currency offer, you can benefit from industry-specialised services, bulk currency delivery and bespoke banking.
  • Travel money. If you wish to purchase travel money while in New Zealand you can collect it at a Moneycorp centre or receive it via a multi-currency prepaid Explorer card. You can reserve your travel money online, without having to pay for it upfront and collect it from your specified branch. They also offer a “buyback guarantee”, so if you find you have unspent money, Moneycorp will buy it back so you don’t lose out.

Need some extra support using Moneycorp?


Using Moneycorp to send money overseas may work in your favour, especially with a competitive exchange rate. However, since there are numerous money transfer companies to choose from, make sure you compare a few before committing your money.

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