Meet the company: moneycorp
There are many currency transfer services available, but moneycorp offers more than many – Transferring your funds from overseas sales back to the UK is just the start, moneycorp provide IBAN or ABA bank routing numbers to speed fund transfer, the ability to hedge funds so that you know exactly what you’ll receive in pounds sterling when your funds arrive and even a pre-paid card so that you can spend your funds abroad in the currency you received them in. As this is all backed up by moneycorp bank, there’s even protection for your funds until you withdraw them into your own bank account.
With so many unique features on offer, and with Brexit potentially on the horizon meaning you’ll want to ensure you can access your funds and that they’re protected, we spoke to moneycorp’s Trevor Charnley to find out more:
Who is moneycorp?
We are a global company that has been operating since 1979; moneycorp supports global businesses, importers and exporters, online sellers and personal clients with great value currency services.
Headquartered in London, moneycorp also has offices in Ireland, France, Spain, Romania, UAE, Hong Kong, Australia, USA and Brazil. This helps us to deliver a global service with the local expertise that our team provide.
From access to wholesale banknotes through to offering the sophisticated structured products and multi-currency accounts that corporate treasurers demand, we exist to provide a better alternative to banks for currency and foreign exchange services.
What services does moneycorp offer?
We offer a broad range of currency services; from travel money and clients transferring money to buy properties and book weddings abroad to wholesale bank notes and corporate services for businesses of all sizes. This means we have extensive expertise which has allowed us to develop services designed to address the unique requirements of online sellers.
Our transparent pricing structure and dedicated service allows online sellers to exchange currency, repatriate funds or pay international suppliers from anywhere in the world. Each client is allocated a dedicated account manager and has access to specialist currency tools which help business owners improve their bottom line and save administration time.
Which marketplaces do you support?
The moneycorp online seller account provides support for a number of marketplaces; as well as major online channels Amazon, Rakuten, eBay, Etsy and Cdiscount, the list also includes Fnac.com, Abebooks, Galeries Lafayette, Allegro, Groupon SARL, Priceminister, CreateSpace, Rue Du Commerce and Zalando.
Our team keep a close eye on the trends so we can add more to the list as the opportunity continues to grow for online sellers. Our support allows online sellers to use a dedicated EUR IBAN or USD ABA Routing Number which speeds up the payment process and get better value from international transactions.
How does it work?
The online seller account is powered by moneycorp bank. Once a seller is signed up, they have access to the full range of account tools and specialist services. The major benefit is the unique virtual IBAN account because the EUR IBAN and USD ABA Routing Number support sellers with professional services and great value.
The account operates with multiple currencies, allowing online sellers to leverage the opportunity to grow their markets across the world without foreign exchange costs eroding profits. The account offers great exchange rates, doesn’t charge transfer fees and a convenient online account with secure 24/7 access to support the online global market.
Tell us about hedging and other tools you offer to give retailers control
In addition to the specialist tools and global payment solutions, we provide expert guidance on the foreign exchange market. Currency values fluctuate and the pound has been particularly volatile due to the uncertainty of Brexit.
There are a range of tools which allow online sellers to track, target and even fix exchange rates. This can help with budgeting and also mitigate some of the risk of a fluctuating exchange rate. Depending on business requirements, our team can provide details in how these tools work, discuss whether they might be appropriate in particular circumstances and provide support throughout the process.
Do you support payments in other currencies?
The online seller international payments account means access to the full range of moneycorp services, which includes access to 30+ currencies online and 120+ currencies available over the phone. Although we know that the primary costs and revenue through most marketplaces is EUR or USD, we appreciate that often markets can expand and goods can be sourced from all over the world.
An online seller international payments account means a great value, secure and professional online platform for paying suppliers and receiving revenue in multiple currencies and managing all your costs. The account also allows sellers to track all payments with real-time reporting.
What makes you different from your competitors?
The major benefit is undoubtedly the EUR IBAN and USD ABA Routing Number but the whole service has been designed with online sellers in mind to make international payments hassle-free. Opening accounts gives you access to a dedicated account manager who will provide bespoke guidance and information on the tools available to address the key challenges and opportunities that business owners face.
The service is run from moneycorp Bank, which means that it is registered with the FSC and eligible for the Gibraltar Deposit Guarantee Scheme for additional protection on your revenue. Online sellers also have access to the explorer pre-paid currency card, saving money and time when travelling abroad for business trips and holidays.
How do I get started and open an account?
If you’re a sole trader, you can be up and running with your dedicated moneycorp online seller account within minutes. If you have a limited company, your online facility should be available within 24 hours.
To sign up you can either give us a call or fill in a quick form and we’ll be in touch. Once your account is set up, you’ll be able to sell on European and US marketplaces and get paid into your new EUR and USD account. From there you can transfer your funds back to an account of your choice.
Exclusive to Tamebay customers, we are offering an exceptionally low FX margin from 0.40% to 0.10%, dependent on the annual transfer amount. View our transparent pricing structure and trade on your terms by visiting our website today.