Making large money transfers online
Our rates are quoted on a sliding scale, so the larger the amount you transfer, the better the rate we can offer. The same principle applies to us when we purchase our currency and we make sure we pass a portion of our saving onto you.
Here’s how transfers over £10,000 work:
- You request your transfer and provide the necessary supporting documents (see below).
- When we receive your funds, we contact you and quote an exchange rate. Please note: Your exchange rate is automatically secured when you use a GBP denominated debit card.
- Once you’ve confirmed the rate, we purchase the currency and process your transfer free of charge.
Secure a rate in advance
When transferring a large mount, you can secure a rate in advance. To do this, all you have to do is pay us a 10% deposit. Securing a rate is useful if you are concerned about exchange rate movements and have, for example, a daily transfer limit on your bank account.
As soon as we receive your deposit, we will lock your rate and no matter what happens, the rest of your transfer will be processed at the quoted rate.
If this is an option you would like to consider, please contact us for more information.
Requirements for sending larger amounts
Individual transfers equal to or greater than £10,000 (or the equivalent in another currency) need to be accompanied by a document or two outlining the source of the funds i.e. sale agreement, loan agreement or pay slip. We’ll let you know what we need when you submit your transfer request online.
If you would like to discuss the documentation in advance, please don’t hesitate to contact us and we will gladly advise you.