MoneyCorp reviewIf you are looking for the best payment system, conduct a fact-finding mission, to gain access to unrivaled analysis of such services as MoneyCorp International money transfer. A careful soul-searching is needed so that you separate the rogue companies from the legitimate service providers. Then decide whether to use MoneyCorp or Travelex.

Company Overview

This is one of the many services where you could send money to your loved ones wherever they are. Do you want to send fees to your son at an abroad university? Or do you want to remit money for upkeep to your family back home? If you are an expatriate, you could take advantage of the convenience from MoneyCorp online services.
The company was started in 1962, easily making it one of the world’s oldest international money payment systems. It has headquarters in Knightsbridge, London, United Kingdom and has offices in Spain, USA, and Ireland. Bridgepoint is the only institutional investor in the company. Its annual report of the year 2012 shows a turnover of 8.5 million GBP, which represents a 60,100 GBP gross profit.

How does it work?

Once you register and open a MoneyCorp account, and obtain a MoneyCorp explorer card, you can make one off payments or regular payments. In addition, make MoneyCorp online money transfers to virtually any destination around the world. Send a minimum of 50GBP and a maximum of 30,000 GBP using the online money transfer option. While the minimum amount of regular payments is 250 GBP, the website provides inconsistent maximum values.
The standard fee for online transfers is 5 GBP while an express online payment attracts a 9GBP charge. While Regular standard charge is 4 GBP, the express regular charge is 8 GBP. At the same time, make an express telephone booking for 15 GBP.

MoneyCorp safe review

Like many customers, you could be hesitant putting large sums of money into an online payment. However, when you become a regular customer, you will be more at ease. Since 1987, PwC has been auditing the company’s accounts annually.
MoneyCorp obtains authorization from the Financial Conduct Authority to provide payment solutions. Since 1979, it has recorded an average growth rate of 20% per annum. It has won so many hearts that it witnessed 6.4 million customers in 2013 alone. During the period, it recorded 10billion GBP traded in currencies. So you can rest assured that your money will arrive safely.

Advantages

Advantages and disadvantagesIf you like having many options at your disposal, then you will fall in love with MoneyCorp. You can send money using a MoneyCorp Debit Card, Bank Transfer, and MoneyCorp prepaid card or funds on account. Additionally, money will be delivered in a few days. If it is an express payment, expect the process to complete within 0-2 days. Otherwise, a standard transfer takes 2-4 days. This service supports more than 30 different currencies.

Disadvantages

I dislike the fact that the guys do not offer sufficient information on how a recipient gets the money via online money transfers. Similarly, the exchange rates displayed on all MoneyCorp Review sites are based on a person’s location, amount, and current market exchange rate. These shifting factors create fertile grounds for the service to impose hidden fees.
MoneyCorp exchange rate of USD to EUR is 0.7983, but it is 0.798360 at Xe.com. In addition, the MoneyCorp exchange rate of EUR to GBP is 0.7988 but is 0.799392 at Xe.com. Evidently, there is a MoneyCorp vs. Xe clash. Another deterrent is the absence of information on a fixed fee for a small transfer.

Customer opinion

Customer feedbackThis company seems to get favorable ratings than most others in its category. It scores an impressive 7.4 rating at Trustpilot and 9.7 in Feefo.

  • “Used MoneyCorp to buy euro for our holiday. Arrived as expected on the next day! No problems, no delays, good value, easy to use website”.
  • “Jon was very helpful indeed in talking me through the whole process. My thanks to him for a job well done!”

MoneyCorp Complaints

“Setting up the account turned into a bit of a mission. It came close to me looking for an alternative. Web page did not function as it should and email address input error by MoneyCorp caused problems.”

Conclusion

ConclusionThere is no single money transfer service without glitches and delays, and MoneyCorp is one of them. I can recommend it to anyone. However, the hidden MoneyCorp fees are a major deterrent. If only the express charges were lessened, it would be the best company by far! Refer a friend and earn MoneyCorp commission when your friend makes at least 2500 GBP worth of foreign exchange transactions.

Categories: Reviews

One Response so far.

  1. Oliver says:

    I used their express feature and was not satisfied at all! I mean, 8 GBP and the money still takes about 36 hours to get to my wife! If I am paying that much money for an EXPRESS service, the money should get there in less than 10 hours! That’s why it’s express!

    I’ve also used other services and had good experiences with all of them. MoneyCorp was probably the worst of them all. They just ask for too much money for a service they do not provide.

Leave a Reply



seven × 8 =