XE Money Transfer
- Send money to 130+ countries
- Competitive exchange rates that are often better than banks'
- XE doesn’t charge any transaction fees, commissions or ongoing fees
An international money transfer provider is a fast and good-value option if you need to send money abroad from the UK. But how can you check that you’ve chosen a safe money transfer company?
As well as reading our in-depth international money transfer reviews, you should check the provider’s FCA status.
FCA stands for the Financial Conduct Authority, which is the regulator for financial services companies and financial markets in the UK. All UK-based companies dealing with international money transfers need to be either authorised or registered by the FCA.
This gives your money a degree of protection, but this varies depending on whether the company is FCA authorised or registered.
Though it may not be obvious, there is a clear difference between being FCA authorised and FCA registered.
In other words, to ensure a safe money transfer from the UK, it’s always best to go for a company that is FCA authorised and not just FCA registered.
The FCA keeps a list of all the registered and authorised firms in the UK on its Financial Services Register.
If the company you’re looking for isn’t on the register, that doesn’t necessarily mean it’s operating illegally – it may just be based elsewhere. Look at its papers or for any information on its website to find out where it’s based. Or you can call the FCA’s consumer helpline on 0300 500 0597 from the UK or +4420 7066 1000 from abroad.
If a company isn’t registered with the FCA or an EU regulator, avoid it. It may be operating illegally and your money will not be protected.
As well as FCA approval, British law now requires money transfer services and banks to disclose information both before and after a transfer. Before a transfer, you have the right to know:
You also have the right to know:
These rules apply to all international transfers of £50 or more.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
To send a safe money transfer abroad from the UK, always make sure the provider you choose is at least FCA registered, and ideally FCA authorised. If you’re at all concerned, look at other options using our in-depth international money transfer provider reviews as a guide.
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