International payments
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Fees can vary depending on the amount you are sending. For smaller payments, usually under £2,000, $2,000, €2,000 or the equivalent, a small transfer fee may apply. These charges are typically much lower than the fees added by traditional banks.

For larger payments, many FX brokers do not charge a transfer fee at all. There can occasionally be costs from intermediary or receiving banks, although FX brokers are often able to absorb these. They usually earn through the exchange rate margin, which means they can still offer strong value on an international money transfer while covering their own costs.

No, we do not currently provide travel cash or foreign currency cash services. The Money Cloud is focused on helping people and businesses compare trusted providers for overseas payments and currency exchange.

The safety of customer funds is paramount to the FX partners we work with. They follow the relevant regulations in the countries where they operate and keep client money separate from business funds where required.

UK-based providers are authorised and regulated by the Financial Conduct Authority, known as the FCA. They must also meet capital requirements that help protect customers and support the stability of their business. For non-UK providers, we check that they are registered with the relevant authority in their own country.

Banks often add a larger margin to the exchange rate they offer, as well as charging payment fees. The rates available through The Money Cloud are typically more competitive than those offered by high street banks.

Typical savings can range from 0.25% to 4% of the amount being sent. Our comparison tables demonstrate this through the “You save” feature, so you can see the potential difference before choosing a provider for your international money transfer.

The exchange rate shown on many online currency converters is usually the interbank rate. This is the rate used when banks trade very large amounts of currency with each other, and it is not normally the rate offered to customers.

FX providers make money through the margin between the rate they receive and the rate they offer you. Because they buy currency in larger volumes, they can often offer better rates than banks while still making a fair margin. The Money Cloud may receive a share of this margin when we introduce you to one of our partners.

Yes, you can agree on an exchange rate now for a payment you plan to make in the future. This is known as a forward contract and can be arranged up to three years ahead.

You may need to pay a deposit when the contract is agreed, with the remaining balance due when payment is completed. If exchange rates move against you, you may be asked to add to the deposit. Your dealer will explain how this works before anything is finalised.

If your concern relates to a transaction or the service provided by one of our partners, please contact us as soon as possible. We will look into the matter and help you work towards a resolution.You can contact us at: general@themoneycloud.com