Moneycorp – International Money Transfer Review
Important: Moneycorp charges both a spread and a separate transfer fee – unlike most specialist brokers on this page who charge a spread only. The standard online fee is £5. Express transfers cost £9. Phone-booked transfers cost £15. Always book online using the standard option to keep costs to a minimum. The £15 phone fee is entirely avoidable and significantly increases effective cost.
Moneycorp is one of the UK's oldest and largest currency businesses, founded in 1962 and operating in FX since 1979. On a £10,000 GBP to EUR online transfer, Moneycorp typically delivers approximately €11,505 after the spread and standard £5 fee. Moneycorp's strongest credentials are institutional: £79 billion in annual volume, 190+ country coverage, FX option contracts, and a banking licence in Gibraltar.
| Pair | Interbank rate | Moneycorp effective rate | Effective spread | Settlement | Compare |
|---|---|---|---|---|---|
| GBP/EUR | 1.1559 | 1.1462 | ~80–105 bps | 1–2 days | Compare → |
| EUR/GBP | 0.8652 | 0.8578 | ~80–105 bps | 1–2 days | Compare → |
| GBP/USD | 1.27 | 1.2593 | ~80–105 bps | 1–2 days | Compare → |
| EUR/USD | 1.0988 | 1.0895 | ~80–105 bps | 1–2 days | Data → |
| GBP/AUD | 2.02 | 2.0033 | ~80–105 bps | 1–2 days | Compare → |
| GBP/AUD | 2.02 | 2.0033 | ~80–105 bps | 1–2 days | Compare → |
Effective rates are illustrative, calculated at the provider's typical spread on a £10,000 / €10,000 send. Rates indicative – confirm with Moneycorp before transacting.
For GBP/EUR on a £10,000 online standard transfer, Moneycorp typically delivers approximately €11,505. Moneycorp uses a two-component pricing model: an exchange rate spread (typically 80–100 bps at retail volumes) plus a separate transfer fee. The standard online fee is £5; express delivery costs £9; phone-booked transfers cost £15. Always book online and use standard settlement to avoid the avoidable fees.
An important distinction: Moneycorp is one of the few providers on this page that charges both a spread and a separate visible fee. On a £1,000 transfer, the £5 fee alone represents 50 extra basis points. At £10,000 it adds approximately 5 basis points.
GBP to EUR transfers with Moneycorp settle within 1–2 business days. Moneycorp's Gibraltar banking licence and Federal Reserve FBICS programme membership provide institutional-grade settlement infrastructure.
Moneycorp becomes more competitive at higher transfer amounts. Spreads improve from ~100 bps below £10,000 to ~60 bps at the £250k+ tier.
For GBP/EUR transfers at the £10,000 level, Moneycorp delivers €11,505 – behind TorFX (€11,512), Halo (€11,508), and Horizon Currency (€11,524). The £5 online fee is the key differentiator: other specialist brokers charge a spread-only model with no separate visible fee.
Moneycorp is best suited to business and institutional clients where its volume, coverage, and product range justify the higher all-in cost. For personal senders, specialist brokers deliver more. Use our comparison table →
Against UK high-street banks, Moneycorp is more competitive despite its fee. Banks apply 275–460 bps on GBP to EUR vs Moneycorp's effective ~54 bps on a £10,000 online transfer. On a £10,000 transfer, Moneycorp delivers approximately €358 more than Lloyds Bank and over €450 more than NatWest.
| Amount | FX rate | Variable fee | Fixed fee | Delivered (GBP/EUR) | Effective spread |
|---|---|---|---|---|---|
| £500 | Interbank | ~100 bps | £5 | ~€519 | warn |
| £1,000 | Interbank | ~100 bps | £5 | ~€1,040 | warn |
| £2,500 | Interbank | ~100 bps | £5 | ~€2,778 | warn |
| £5,000 (online) ★ | Interbank | ~80 bps | £5 | ~€5,682 | warn |
| £10,000 | Interbank | ~80 bps | £5 | ~€11,505 | warn |
| £25,000 | Interbank | ~70 bps | £5 | ~€28,721 | warn |
| £50,000+ | Interbank | Negotiated | £5 | Negotiated |
Standard online fee £5. Express fee £9. Phone booking fee £15 – always avoidable by booking online. Spreads improve at higher amounts. Confirm all fees with Moneycorp before transacting.
TTT Moneycorp Limited was founded in 1962, with foreign exchange services commencing in 1979. The company is headquartered in London and holds an FCA Payment Institution authorisation (FRN: 308919). Moneycorp also holds a banking licence in Gibraltar and is a Federal Reserve-registered Foreign Bank and Financial Institution (FBICS).
Moneycorp processed £79 billion in annual volume in 2024, generating revenue of £231.3m. The company serves 11,000+ B2B clients across 190+ countries, with a primary focus on corporate and institutional clients.