WHAT IS THE COST, ARE THERE ANY HIDDEN FEES?

Setting up an account costs nothing and there is no obligation to use it. The pricing is clear, the rate you deal at is not adjusted in any way and there are no hidden fees or monthly subscription costs.

IS DEALING WITH MONEYDERO GOING TO BE A HASSLE?

No, you can exchange currency online and send it to the destination account in less than a minute. Contact us and we can walk you through a demo.

WHEN WILL THE MONEY BE RECEIVED AT THE OTHER END?

Transfers to Western Europe and the US can be made the same day if you select same day settlement when you trade and send funds in before the cut off time. Funds travelling East may arrive the 'next day' for the beneficiary because of the time difference. Our customer service team can advise you of the likely delivery date for other currencies.

DOES MONEYDERO SAVE ME MONEY?

You deal gross at market rates on major currency pairs. An easy to use system with competitive rates, fast delivery and secure service saves you time and money.

is MY MONEY safe with MONEYDERO?

We are registered with HMRC as a money service provider and Currencycloud is our payment and foreign exchange services provider. Funds are safeguarded by our FCA-regulated e-money partners at a credit institution.

How do I pay for (settle) my trade?

By online or bank transfer. We do not accept cash or cheque for settlement. Detailed payment information is included in your trade confirmation.

What currencies can I exchange?

We offer all major currency pairs. The full list of currencies we offer are listed in our currency guide.

How do I open an account with you? How long will it take to open an account?

There is no charge to open an account and you can sign up online here. After we verify your details your account will be set up and ready to transact.

I HAVE RESET MY PASSWORD BUT I STILL CANNOT LOG ON. what is going on?

If you have not used your account for an extended period of time your account may have been marked as dormant as a security measure. It has not been deleted. Contact your relationship manager to arrange for it to be re-activated.

What aRE SPOT and FORWARD Contracts?

Currency trades are normally settled two days after the agreement is made, which may also be referred to as a spot trade. A currency bought for immediate, i.e. same day delivery, is a short dated contract. A currency bought for delivery at a later date (i.e. more than two days away) is a forward contract. Forward contracts can be used to lock in an exchange rate today for delivery at a future date that could be days, weeks, months or even up to one year away.

WhEN ARE THE FOREIGN EXCHANGE MARKETS OPEN?

Foreign exchange markets are open 24 hours a day during weekdays but are closed over the weekend. This means they close when New York closes on Friday at 9pm GMT and reopen when Tokyo opens at Sunday 9pm GMT.

Are you regulated?

Payment services for Moneydero are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Be sure to read our blog where we cover specific issues in more depth.