FAQs
Frequently asked questions
Everything you need to know about currency transfers with FXRates.uk.
Is FXRates.uk safe and regulated?
Yes. FXRates.uk is authorised and regulated by the Financial Conduct Authority (FCA). All client funds are held in segregated accounts in accordance with FCA client money rules, meaning your money is never mixed with our own funds.
How much can I save compared to my bank?
High street banks typically charge margins of 3–5% on currency transactions. FXRates.uk works with specialist FX providers offering significantly tighter margins. On a £50,000 transfer, you could save £1,500–£2,500 compared to a standard bank rate.
Are there any transfer fees?
No. FXRates.uk charges zero transfer fees. Our revenue comes from a small spread on the exchange rate, which is fully disclosed before you complete any transaction.
How long does a transfer take?
Most transfers complete within 1–2 business days. Some currencies and destinations can arrive same day. Your account manager will confirm expected timelines before you transfer.
What currencies do you support?
We support over 200 currencies, covering all major and most minor currency pairs. If you have a specific currency requirement, contact us and we'll confirm availability.
What is the minimum and maximum transfer amount?
Our minimum transfer is £500. There is no published maximum — large transfers are handled by our dealing desk and may be subject to enhanced due diligence.
Can I lock in an exchange rate for a future date?
Yes. We offer forward contracts, which allow you to fix today's exchange rate for a transfer up to 24 months in the future. This is particularly popular for property purchases and businesses managing currency risk.
What is a rate alert?
A rate alert lets you set a target exchange rate. When the market reaches your rate, we notify you by email or SMS so you can transfer at the rate you wanted.
How do I open an account?
Visit our Get Started page to register online. The process takes around 5 minutes. You'll need to verify your identity in line with FCA anti-money laundering regulations.
Is my personal data secure?
Yes. FXRates.uk uses bank-grade encryption and complies fully with UK GDPR. We never sell or share your personal data with third parties outside of what is required by our regulatory obligations.
Still have questions?