Step
by step process of money transfer
On completion of the international money [transfer
request form] an operator will contact you,
by email. Completion of this form places you under no
obligation to use our service. It enables us to review
your details and identify any queries we may have. If
you would like us to call you to discuss any aspect of
money transfers, please use the “Call me”
facility in the method of payment field on the form. We
will then follow the step-by-step process listed below.. |
Step
1
On receipt of your transfer request form, we will
check the details and email back a completed official
form for you to review. This will confirm indicative
rate for the currency you have requested. It
also gives you a chance to check the details you
have sent us are correct. This requires a signature
and can be faxed back to us on 0207 224 5723 (INT
code 00 44) if you are in agreement for the money
transfer to take place. You will then need to transfer
to our bank the money you wish to transfer. The
form we send you contains our bank account details.
Payment to our account can be by: Online banking
transfer, BACS or Chaps. |
Step
2
Upon receipt of the cleared funds to our account,
we will confirm the rate with you and process the
International Money Transfer. |
Step
3
The money transfer will be actioned and once the
funds have left the country, a confirmation sent
to you. This contains a unique reference number
for your transfer. Please keep this for your records. |
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General information
Online FX IMT's are a highly convenient, secure and cost
effective way to transfer money to bank accounts in over
70 countries worldwide. Owing to the current political
situation in many countries, we have had to restrict the
number of countries available.
Please
call us on 0870 999 0059 for
further information or Money Transfer Rates.
Because of money laundering compliance regulations we may
require additional information in order to transfer
large amounts.
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What does it cost?
Please note all sums quoted are for GBP sterling equivalent
amounts.
Compare that with up to £30 for each transfer charged
by high street banks. Under certain
circumstances we can arrange a same day transfer to Europe
and the U.S. The cost of this service is between £5
and £10 extra. |
Please Be Aware
some banks use an intermediary bank to process transfers
on their behalf. These banks may make an administration
charge.
All
receiving banks make an administration charge for receiving
transfers. We are unable to advise on these charges as
they vary from bank to bank and country to country. It
can also depend on the arrangement the recipient has with
the bank. These are not Online FX charges and we are unable
to accept responsibility for any amount deducted. Please
check with the recipient, especially if the amount to
be placed is critical, e.g. payment of bills, property
purchase.
If
you have any queries, please do not hesitate to contact
us on 0870 999 0059. |
Restrictions
We are unable to carry out same currency transfers. E.g. Sterling
transfers, Dollar account to Dollar account etc.
Transfer
Amount
Our minimum transfer value is now £50.
With our IMTs you can transfer any amount from £50
or equivalent in foreign currency. Just make cleared funds available
to us and we will take care of the rest.
Faster
than bank transfers
Our IMT's take just two working days to reach countries in Western
Europe and North America, and four working days for the rest
of the world. In comparison, bank transfers can take up to 14
days.
If
you need more information send us an email info@onlinefx.co.uk
or if you would like to initiate an international money transfer
then please Register Online
Indicative
rate
Currency values are constantly fluctuating and the currency
rate quoted is known as the indicative rate. This currency
rate represents the value and amount if we were making
the transfer at the time of enquiry. top |
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