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International Money Transfers

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.

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.

What does it cost?
Please note all sums quoted are for GBP sterling equivalent amounts. Transfer cost: £15.00

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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