Review: Sending money with Moneycorp

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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 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.

GBP 50

Min. Transfer Amount

No limit

Max. Transfer Amount

1 - 2 days

Transfer Speed

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Details

Product NameMoneycorp International Money Transfers
Min. Transfer AmountGBP 50
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Email, Branch
Available CurrenciesAED, 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
Exchange Rate UpdatesReal time
Online Transfer FeeGBP 5
Phone Transfer FeeGBP 15

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

In addition to the above currencies, you can also make an international payment in these exotic currencies.

INR (Indian Rupee)BHD (Bahrain Dinar)MXN (Mexican Peso)
ILS (Israeli Shekels)BRL (Brazilian Real)OMR (Omani Rial)
MAD (Moroccan Dirham)EGP (Egyptian Pound)TTD (Trinidad & Tobago Dollar)
JOD (Jordanian Dinar)KES (Kenyan Shilling)KWD (Kuwaiti Dinar)
QAR (Qatari Riyal)TND (Tunisian Dinar)RON (Romanian Lei)

Unavailable countries

You’re unable to send a payment to some of Australia's closest neighbours. You may want to consider an alternate money transfer service if you want to send money from Australia 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 charges a flat fee for regular and express transfers. You’ll pay £5 for regular payments (about $8.50 AUD) and £9 for express payments (about $15 AUD). If you’re using Moneycorp to make recurring payments, the charges are a little different. Regular payments cost £4 for each transaction (about $7 AUD) and express recurring payments cost £8 each payment (roughly $13.50 AUD).

Minimum transfer amount

Moneycorp lets you exchange Australian dollars to up to 33 different international currencies. You can send as little as £50 (about $85.50 AUD) for one off payments and £250 (about $427 AUD) 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 let 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 two 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 three 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 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.

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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 Australian 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 three 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.

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What’s the good and bad of using Moneycorp?

The good

  • It offers bank-beating rates. Moneycorp offers a bank-beating exchange rate. It also offers personal and business transfer to suit your needs.
  • It's 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 online is available 24 hours a day with the most competitive rates.

The bad

  • Indicative rates. The exchange rates quoted by the Moneycorp exchange rate calculator 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 – it applies 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 Australia, and you're charged for it. Converting a currency twice doesn’t make much sense when there’s a host of locally-based money transfer companies.

What other products and services does Moneycorp offer?

Moneycorp provides more than online foreign exchange services. Moneycorp issues foreign cash (airport pickup locations as well as delivery by Royal Mail) and a travel money card, but 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 issues 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?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.769 USD
7,694
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries. Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.772 USD
7,715
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.773 USD
7,725
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.772 USD
7,716
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.772 USD
7,718
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 1 1 day AUD 52.00 0.771 USD
7,670
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.766 USD
7,661
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.
Go to site Show details
AUD 1 Same day AUD 0.00 0.771 USD
7,710
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.774 USD
7,701
New customers sending over AUD 500 to Australia use code FINDER50 to get AUD 50 off. Valid till 31st May 2021. T&Cs apply. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.767 USD
7,669
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.766 USD
7,653
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.775 USD
7,714
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. 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.

Want to compare Moneycorp with other services side-by-side?

FAQs for Moneycorp


You may want to have a look at local international payment companies if you want to send money overseas. We compare a number of competitive international money transfer companies based in Australia. Let us know if you need help with your comparison.

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Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for Send International Money Transfers
Send International Money Transfers

Send 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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2 Comments

    Default Gravatar
    Joseph
    October 27, 2016

    How can I do a money transfer

      Avatarfinder Customer Care
      Harold
      October 27, 2016

      Hello Joseph,

      Thanks for your question.

      Once you’ve registered and verified your account, you can transfer money online or over the phone. But please note it’s more expensive to request a transfer over the phone. Moneycorp are a UK company. There may be issues for Australian 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. Also, 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.

      I hope that helps.

      Cheers,
      Harold

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