Frequently Asked Questions

Yes - many corporate clients use a Time Option contract, to secure an advantageous exchange rate for the coming months' business requirements. Using this type of contract, currency can be drawn down at a fixed rate as and when needed over the length of the contract. A perfect way to manage your cashflow and cost base, without committing to an exact series of payments to suppliers.

Yes - Currency Index is an "Authorised Payment Institution" under FSA regulations (you can check this on the FSA website). This means that your funds are held in "safeguarded" client accounts whilst in our care. These accounts are separate to our business banking accounts, and in the very unlikely event of any problems, your funds would not be accessible to creditors. In addition, Currency Index is required to keep a significant amount of its own capital at all times, and does not lend or borrow money under any circumstances.

Buying through Currency Index is like having direct access to the wholesale currency markets. As all we do is buy and sell currency on a daily basis, we can use our buying power to offer rates to all our clients which are much better than those typically offered by the banks with their expensive overheads and branches to fund. There are no commissions to pay, and our transfer fees are less than the banks charge too - or free if you are sending over £30,000-worth of any currency.

Your payment will be sent by the fastest transfer method available, which in most cases will arrive with the receiving bank the same day it is sent. Some currencies and countries take up to 2 working days due to limitations of the international banking system, and for Eurozone payments we can send either same-day or next-day using a SEPA payment to reduce charges. Please see our specific country advice pages for more information.

Currency Index does not charge directly for its services, as we derive a small exchange rate margin on each transaction, so you do not need to pay commission and the rate we quote is the rate you get. International transfers for over £30,000-worth of currency are also free, but for payments under this amount, we charge £7 to cover our banking costs. We can also produce proof of payment (IPR) for transfers, which attracts an optional charge of £8.

You will find a comprehensive list of currencies and countries in our help section. In general we can send payments to any country in the world, except where disallowed due to international sanctions (please note for some countries we will also require extra information on the nature of the payment). We deal in all major currencies and many more 'exotic' currencies too, so whatever your requirements we should be able to help.