FAQS

Below you'll find answers to the questions we get asked the most.

Payments

There are several ways for you to send us money. Whichever method you prefer, we will notify you once we have received your payment. Unfortunately, we cannot accept cash.

Online banking or telephone banking: Your money will usually arrive within 2 hours if your bank is on the Faster Payments Service. This is the quickest and easiest way to send a GBP payment. UK banks do not usually levy a charge for sending money in this way. There is usually a daily transaction limit, which can be found here
BACS: As above but can take up to 3 days to clear
CHAPS: Guaranteed same day payment as long as the funds are sent before 14:00 on a working day. There is no limit to the amount of money you can send. Your bank may charge a fee for sending money through CHAPS.

Can Currency Global accept payment from an account that is not in my name?

When do I pay Currency Global?

Once you have booked a transaction, your relationship manager will let you know when your funds are due. You will also receive a confirmation email containing details about your transaction, how to pay us and when.

We can only make a payment once your funds have cleared so please ensure you send your funds in time. If you require same day settlement, your relationship manager will be able to advise you on our cut-off times.

When will my beneficiary be paid?

What happens if my beneficiary does not receive payment?

How do I add a beneficiary?

A beneficiary may be added at any time after registration by speaking to your account manager. You will need to provide the beneficiary’s name and bank details.

The bank account details required will vary depending on the country of the beneficiary’s account. Please see below for more info:

UK – SWIFT and IBAN, or account number and sort code
Europe – SWIFT and IBAN
Canada – SWIFT and Transit code/Routing code
Australia – SWIFT or BSB code
New Zealand – SWIFT and 6 digit bank code
USA – SWIFT or ABA routing number
India – SWIFT and IFSC number
China – SWIFT
Mexico – SWIFT and CLABE number

Currency Global will automatically validate that the SWIFT and IBAN formats provided are correct.

Fees & charges

Are there any charges?

Currency Global does not charge you any onward remittance costs. However, please be aware that your bank may charge you a fee for sending payment to us and your beneficiary’s bank may also charge a receiving fee. Unfortunately these costs are beyond our control, but we will advise accordingly where possible. There should be no deductions when trading Euros, Sterling or other EEA state currencies within the the European Economic Area.

How does Currency Global make money?

Banks trade with each other at the interbank rate. The rate they pass on to their customers is the interbank rate plus a spread. This spread is the bank’s profit. The larger or more influential the customer is, the smaller their spread is and hence the better their rate is.

As a Foreign Exchange specialist, we trade in huge currency volumes so we have access to these better rates. This coupled with our significantly lower overheads means we can take a smaller spread and pass on highly competitive rates to all our customers.

General

How do I open an account?

Click on the Sign Up button and complete the simple, quick and secure registration form. Alternatively, you can call one of our account managers and we can help you complete the registration process or send a hardcopy form in the post. Registration should take no more than a few minutes. We will use the details you have provided to perform Know Your Customer and Anti Money Laundering checks. Once passed, we will send you a welcome email and your relationship manager will contact you to understand your requirements and ensure the rates and service you receive are first class.

Which currencies can I exchange?

Can I fix a rate today for the future?