Frequently Asked Questions

Do our partners charge fees for payments or money transfers?

It depends on the amount of money you are sending overseas. For smaller amounts, below £/$/EUR 2000 or equivalent there will be a fee, but in comparison to banks these fees are very low, particularly with the online money transfer companies. Over this amount, with FX brokers, you will not be charged a fee at all. Sometimes the banks in the middle and at the end will charge a fee, but 9/10 times FX brokers are able to absorb these additional costs, as they make their money from the difference in the exchange rate they give you and the rate they can command by buying foreign currency in bulk amounts, which is considerably better than those you would get from a bank.

How do I open an account and how long will it take to complete with companies listed on the site?

If you want to open an account firstly you have to perform a search using our comparison tool and selecting the company that fits your needs. Once you have chosen, you can fill in your details and you will be taken to their site where you can complete the application online or a member of their customer services team will be in touch either by email or phone to finalise your details. Opening an account online should only take a few minutes and they can usually get you up and running within an hour. Over the phone shouldn't take longer than 10 minutes. You will need to verify that you are who you say you are, by providing ID and proof of address as this is required to comply with international Government’s regulations. Business clients and online sellers can open an account online too, but again due to regulations, further documentation may be required, but rest assured our partners will get you set up as fast as they can.

How much can I transact with providers in the comparison results?

You can transact any amount, but the best deals are provided by FX brokers for amounts over £1,000 (or equivalent in other currencies).

Can I compare travel money or cash with you?

Yes you can, we also work with a number of partners in this sector that provide travel/holiday money. You can compare by clicking here.

Is my money safe with you? Are you regulated?

Ensuring the safety and security of your money is central to all of our partners. They all comply fully with all relevant regulations and ensure your funds are appropriately segregated from business funds in line with requirements. UK based companies are authorised and regulated by the FCA (Financial Conduct Authority – formerly FSA), and they are required to hold sufficient capital to protect their business and further safeguard their customers and are willing to provide a bank reference for further reassurance. For non-UK based companies, we make sure that they comply and are registered with the relevant Government authority in the countries they operate.

How do you save me money compared to a bank?

The exchange rates quoted on our site are nearly always a lot better rate than your bank and if you're quoted a better rate, they will match it but without the cumbersome bank fees – so it is still saving you money! Savings are usually from 0.25% up to 4% of the amount being transferred which is reflected in our ‘You save’ feature in our comparison tables.

So how do you and your FX partners make money?

The exchange rate you usually see on online currency converters is the Interbank Rate (Read here). This is the exchange rate that banks to trade with each other, in the billions and is not the same as the rate you get. They quote you a much lower rate and that's where they make their money. This is known as the spread, or the margin. Our FX partners don’t trade currencies at the same volumes as the banks, but still source enough currency to get such good rates that they are able to pass on savings to you by offering margins higher than they bought it for but still considerably lower than banks. The Money Cloud, by introducing you to our partners receives a percentage of this profit made.

Can I fix an exchange rate for a future date?

Yes, you can lock in a rate now for a date up to 3 years in the future. This is often called a forward contract. You might need to pay an initial deposit and then the balance will be due at the end of the contract. If the rates move against you may need to top up the deposit. Your dealer will explain and discuss this with you before you book your forward. This can be ideal if you want to know exactly how much you'll get when you come to make your transfer.

What if I am unhappy with the service I receive from you or your partners?

If it is to do with a specific transaction or complaint about the service provided by our partners, firstly contact your account manager or login to your online account and file a complaint. If you are not happy with the response, you can let us know and we will chase it up and help to make sure the situation is resolved. If your complaints is with us, we are very happy to deal with it if you contact a member of our team at or +44 (0) 207 100 5655. Please also feel free to leave a review of our service on TrustPilot by clicking here

Comparison tool

Nicola O'shea

Was going to use our local Post Office until I realised by using your comparison chart how they're loading the exchange rate. You've given me an extra $50 AUD by using Xendpay

Fiona Aitkin

I've found your comparisons really useful and frequently refresh the page as we're about to pay a deposit on a house in Turkey. Pretty good.
Portugal property


When purchasing property in Portugal, we explain all the steps involved in the purchase. We can demonstrate how to make the most of your money when making the international payments to cover the purchase price and associated costs and how to avoid exchange rate risks.

Paying overseas suppliers in their own foreign currency


When paying overseas suppliers on a regular basis, currency conversion costs as well as fees when using your bank all add up. The Money Cloud saves you money by introducing you to specialist foreign exchange companies when conducting overseas business purchases and expenses.

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