International money transfers made easy.

Transcription

1 International money transfers made easy.

2 A bit about Moneycorp Foreign exchange explained Any reason, any currency We ve been in business since And our clients have always been at the heart of what we do; in 2011, we traded 11.1 billion in currencies on their behalf. We provide tailored services to help people save money on their overseas currency transfers. We ll help you trade at the right time, in the right way, when rates are in your favour which means your funds will go a lot further. We also offer a range of travel money services all at great prices. You can have currency delivered direct to your door, or you can collect it from us. You ll find Moneycorp branches dotted around Central London, as well as Gatwick, Stansted, Southend and Southampton airports. Friendly, expert guidance Latest technology and payment systems Direct access to experienced Dealers I have found dealing with Moneycorp a stress-free, simple experience and would like to thank you personally for that. I would be happy to recommend you at any time and have, in fact, done just that. As you can imagine, not much else in this whole life change has been quite that simple so it was like a breath of fresh air!! FIONA The foreign exchange (FX) market is the global market where currencies are bought and sold (or traded ). It is the largest market in the world in terms of the daily value of transactions undertaken. Participants range from professional trading organisations and multinational corporations seeking speculative gain, to individuals making or receiving international money transfers. Markets on the move Exchange rates fluctuate constantly and it is of course better to buy or sell currencies when rates are in your favour. In volatile markets fluctuations of up to 5% can happen quickly, which can result in you obtaining significantly less currency for your money. In a nutshell, timing is crucial when making foreign exchange transactions. And that s where we come in. We ll monitor the markets on your behalf and help you make your transactions at the right time, at a highly competitive exchange rate. We re not just here to help with large-scale purchases or investments. You can benefit from our services if you need to make smaller payments too like pension transfers or tuition fees for a child studying overseas. Large transfers, such as moving money when you emigrate Small payments, such as topping up an overseas bank account Any currency, from the euro to the Croatian kuna Any direction, either from the UK or from overseas back to the UK Our services are simple to use and you can arrange transfers over the phone in a matter of minutes. We re here to help +44 (0) Our history 1962: TTT Moneycorp Limited (Moneycorp) is incorporated 1979: Moneycorp opens its first bureau on Oxford Street 1993: Bureaux opened at Gatwick Airport 1997: Retail presence in London grows to 10 branches 2000: Moneycorp starts trading in commercial foreign exchange 2004: Moneycorp acquires bureaux at Stansted Airport 2007: Royal Bank of Scotland Special Opportunities Fund becomes a significant minority shareholder 2009: Bureau and ATM concession at Southampton Airport is acquired by Moneycorp 2011: New online travel money service is launched 2011: The world s first 14-currency prepaid card is launched 2011: Royal Bank of Scotland Special Opportunities Fund becomes the sole institutional investor in the Group, with a total shareholding of 96% Seems like I bought just at the right time looking at the rate this morning!! Thank you for all your help and for saving us so much money compared to if we had just used our bank. I look forward to dealing with you again next year. Jacqui 02 International money transfers made easy 03

3 Benefits of using Moneycorp Our products There are a number of potential pitfalls and extra costs associated with making and receiving international payments. But we can help you avoid them... We offer free, expert guidance on the currency markets and help customers make transactions at the right time, offering highly competitive exchange rates. Our transfer fees are typically a lot lower (customers making regular payments through their bank could be saving up to 500 a year on fees alone with Moneycorp). We are on hand at all times to ensure that payment instructions are accurate and complete, making sure your payments arrive on time, every time. 96% of our customers say that Moneycorp saves them money* *results from customer responses to quarterly customer satisfaction surveys I have to say that your customer service was absolutely faultless. You were 100% honest and up front about absolutely everything to do with the trade, including what fees would be charged. It was great to be able to speak to you pretty much whenever I wanted to, and to be called back whenever I requested a call back. It is refreshing to experience such unbelievable service. Patrick Spot contract A Moneycorp spot contract allows you to fix an exchange rate and apply it to a money transfer that you want to make within ten working days. There is no need for a deposit, but you need to pay us before the currency is due to be paid out to your recipient. Spot contracts are suitable for people who need to make a payment quickly and are looking for the most competitive rate available. Forward contract This type of contract allows you to fix an exchange rate and apply it to a money transfer which you are planning to make in the future (up to two years ahead). You can do this even if you don t have all of the funds available at the time you book the trade. Forward contracts are suitable for people looking to protect themselves against adverse rate movements, as well as those who want to fix a rate that they see as particularly favourable. Limit order This allows you to set a target exchange rate at which, if achieved, you will buy (or sell) your currency. Limit orders are useful if you have upcoming payments but are not restricted by tight deadlines and therefore have time to try and achieve a better exchange rate. Stop loss order This allows you to set a minimum exchange rate at which, if achieved, you will buy (or sell) your currency. Stop loss and limit orders are often run together. This allows you to aim for a favourable exchange rate, whilst ensuring that, should the markets turn against you, you don t lose out. The levels at which limit and stop loss orders are set can be adjusted within a moving market to make them more effective. Options Provided by Moneycorp Financial Risk Management Ltd (Moneycorp FRM) part of the Moneycorp Group Typically an option is a contract that gives you the right but not the obligation to exchange money at a pre-agreed exchange rate on a future date (both specified by you). You are not obliged to deal at the pre-specified rate and can choose to deal in the spot market if the spot rate in the future is more favourable. However, for the extra flexibility that foreign exchange options can provide, there is a cost to purchase these contracts in the form of an up-front premium. This premium is non-recoverable. In many ways, simple ( vanilla ) options act like an insurance policy* you pay a premium to provide a worst case rate (the strike rate of the option) but you have unlimited upside if exchange rates move in your favour. Foreign exchange options can be taken out on any major currency for a period of anywhere between one week and two years. Foreign exchange options and other derivative products are not suitable for everyone and you should ensure you fully understand the risks involved before purchasing these products. Moneycorp Financial Risk Management Ltd is authorised and regulated by the Financial Services Authority for the conduct of designated investment business. For more information on options please contact us. * Foreign exchange options are not pure protection insurance policies or general insurance policies as defined by the Financial Services Authority. We employ Dealers who are Members of the Society of Technical Analysts (MSTAs) and experienced traders. 04 International money transfers made easy 05

4 Face to face, over the phone or at the touch of a button Whether you like to do things online or you prefer the reassurance of speaking to a member of our team, we ll do our best to create the right experience for you. You can even visit our trading floor if you want to get a better idea of how things work. Online Quick. Easy. And cost-effective. Moneycorp Online allows you to make international transfers at competitive rates and manage your recipient details all at the touch of a button. You can choose to send your currency by using our Standard Service, or you can pay a little bit extra for Express Delivery. Over the phone It s good to talk. So if you decide to give us a call, you ll get through to a friendly, intelligent professional. Our staff have years of experience dealing in foreign exchange and will always be on hand to help. +44 (0) Moneycorp were absolutely cracking to deal with, they were very helpful and polite, they made the whole transaction a pleasure. Linda and Paul Regular money transfers Fully automated and hassle free, our Regular Payment Plan (RPP) is tailored for transactions like overseas mortgage payments and pension transfers. We collect your sterling by Direct Debit and automatically send the foreign currency abroad. We don t charge commission and our transfer fees are some of the lowest around plus, our exchange rates are highly competitive. With the RPP, transfer schedules are flexible, ranging from weekly to annual and there s even the option to fix your exchange rate for a set period of time... Option 1 FIX THE STERLING AMOUNT You ll know how much sterling will be debited from your account for each transfer. The amount of foreign currency you receive will vary according to the exchange rate at the time of transfer. Option 2 FIX THE FOREIGN CURRENCY AMOUNT You ll know how much foreign currency will arrive in your overseas account every time. The amount of sterling debited from your UK account will vary according to the exchange rate at the time of transfer. Option 3 FIX BOTH You ll know exactly how much sterling will leave your UK account and how much foreign currency will arrive in your overseas account. This option is available for a period of between 6 and 24 months. 99% of our customers would recommend us* *results from customer responses to quarterly customer satisfaction surveys Our partners Forming partnerships with organisations that can benefit from our services, help grow our business and improve the customer experience is key to our success. We re proud to have more than 2,500 partners, ranging from SMEs to big industry players. Some of our more recent high profile partners include The Telegraph Our partnership started in 2009 and we are now the provider of the Telegraph money transfer service. We work together to provide ongoing print and online advertising to promote this service, as well as our other travel money products. Daily Mail Following the success of our partnership with The Telegraph, we approached the Daily Mail in Our partnership with the Daily Mail is very similar, providing a unique money transfer service for their readers. Virgin Atlantic We formed our relationship in Since then, a number of joint marketing initiatives have taken place, including online referral schemes, /sms campaigns and even branch point-of-sale campaigns at Gatwick Airport. Number One Traveller Lounge We started a new partnership in 2010, offering our customers discounted access to Number One s airport lounges. Since then, we have developed a special service allowing lounge customers to order currency and have it delivered to them on the spot so they don t even have to leave their seat! BAA We work closely with BAA at UK airports, providing currency exchange services to over one and a half million passengers annually. We also have partnerships with the likes of Arcadia, Coutts, GE Money, BNP Paribas, Royal Bank of Canada, Select Money and more We specialise in worldwide payments and understand the vagaries of different countries so we can help you avoid delays and unnecessary costs. 06 International money transfers made easy 07

5 Making a transfer the basics Open a free, no-obligation Account with us by registering your details online, or by calling the team on +44 (0) FAQs How does Moneycorp save me money? Firstly, our rates of exchange are highly competitive and are likely to be better than the rates offered by your bank. Secondly, by ensuring that you actually trade at the most favourable time. Thirdly, we don t charge commission and our transfer fees are some of the lowest around so you ll save that bit more. Is dealing with Moneycorp going to be time consuming? No. Opening an Account only takes a few minutes and can be completed online or over the phone. Everything else can also be dealt with online or over the phone or you can pop in to see us. How much money can I transfer? Any amount. Although the minimum amount that you can send using our Regular Payment Plan is 250. How long do transfers take? This depends on where in the world you are sending your funds. Usually, transfers to Europe and North America are same-day. Further east takes two days. Your Moneycorp Account Manager will advise you. What happens once I ve opened my Account? Your Moneycorp Account Manager will talk you through all of the choices available and discuss the best way for you to transfer your money. How do I know that my money will be safe? TTT Moneycorp Ltd is authorised and regulated by the Financial Services Authority (FSA) as an Authorised Payment Institution and is legally required to safeguard client funds held in respect of a payment service. Client funds are held in segregated accounts separate from the Firm s own money and we also have special agreements in place with banks like HSBC which held to protect people s money. Any client funds held with Moneycorp Financial Risk Management Ltd (authorised and regulated by the FSA for the conduct of designated investment business) are subject to FSA client money protection. We are very well capitalised and in most cases are not exposed to major credit risk. Further information can be found on our website, including the latest annual report and accounts (which have been audited by PriceWaterhouseCoopers every year since 1987). It s also reassuring to know that Moneycorp has been in business for more than 30 years and has excellent ratings from Dun & Bradstreet, Graydon and other credit agencies. If you have any other questions, please feel free to get in touch. Discuss your requirements with your personal Account Manager. They will be able to provide latest exchange rates and talk you through the options available. If you are happy with the exchange rate and type of contract offered, you can agree and book your transfer verbally. You will receive confirmation of your trade (a Contract Summary) and you will need to provide details of who will be receiving the foreign currency (remember you can transfer currency to one of your own bank accounts overseas). Send your funds to the Moneycorp client account, so that they arrive on or before the agreed date when the currency is due to be paid out. Once your funds have cleared, we will send the foreign currency (on the agreed date) to your specified account. Call us to find out more about opening an Account: +44 (0) Or visit I have never transferred money before. You were very helpful and made it easy for me. Thank you very much. Pamela We invest in the most up-to-date systems, payment platforms and technologies help us deliver highly competitive exchange rates and market guidance. 08 International money transfers made easy 09

6 Other services Currency on the go We sell travel money over the counter at our bureaux de change, which are located across Central London as well as Gatwick, Stansted, Southend and Southampton airports. We also operate a network of ATMs at these sites and offer other travel-related products (including travellers cheques). Multi-currency prepaid card You can have up to 14 different currencies on our secure, PIN-protected Explorer card and that s a world first. (You won t get a prepaid card anywhere else that lets you load and manage this many currencies.) You can use it wherever Visa is accepted including 31 million merchant outlets worldwide and more than 1.4 million ATMs and you can lock exchange rates to protect against negative currency movements. Online travel money Buying your travel money online with us is easy. It should only take a few minutes and we ll deliver your currency straight to your door, via Royal Mail Special Delivery. You can choose from over 60 currencies (as well as travellers cheques) and we offer free next-day delivery on orders of 500 or more. Guaranteed pre-9am and Saturday delivery options are also available. Foreign exchange services for business clients We provide tailored services to help companies manage their international payments and to make the most of their funds. We offer everything from spot trading services to risk management advice. And if an organisation needs to buy currency notes in bulk, our specialist Wholesale Division can meet requirements like this. We supply businesses ranging from cruise ships and travel companies to private banks and other FX brokers. For more information on any of these services, visit our website: KEY FACTS Moneycorp Trading name of TTT Moneycorp Limited 1962 Company incorporated 1979 Started dealing in foreign exchange 2.5m Customer transactions in bn Traded in currencies in Dedicated employees Providing comprehensive foreign exchange and money services: The Royal Bank of Scotland (RBS) Special Opportunities Fund is the sole institutional investor in the Group, with a total shareholding of 96%. Offices in the UK, Spain and the USA. Substantial client list including many blue-chip companies and organisations. Annual accounts have been audited by PwC since Excellent rating by D&B, Equifax, Graydon and other credit agencies. Authorised and regulated by the Financial Services Authority for the provision of payment services. Licensed Money Service Business. Private company with an established reputation, focused on long-term customer satisfaction rather than short-term gains. Clients are welcome to visit our FX trading floor or Head Office, both in Knightsbridge, London. 10 International money transfers made easy 11

7 DES0204 Moneycorp Head Office 2 Sloane Street Knightsbridge London SW1X 9LA T +44 (0) TTT Moneycorp Limited is authorised and regulated by the Financial Services Authority for the provision of payment services. Moneycorp is a trading name of TTT Moneycorp Limited. Registered office: 2 Sloane Street, Knightsbridge, London SW1X 9LA. Registered in England: No Incorporated Worldwide copyright TTT Moneycorp Limited 2012.