FAQs

General
What is Moneywallah Business?

Moneywallah Business is a digital money transfer platform that provides fast, low-cost international payments for your company. Designed with you and your business in mind.

Who uses Moneywallah Business?

Moneywallah Business is tailored for small to medium-sized businesses. CEOs, CFOs, accountants and others use Moneywallah to make fast, low-cost international payments.

These companies are from various industries including shipping, importing, e-commerce, retail, electronic, manufacturing and fair-trade.

What can I use Moneywallah Business for?

You can use Moneywallah Business to pay vendors and buy products from anywhere in the world, make quick and secure payments to your employees abroad or invest in businesses and properties overseas.

With Moneywallah Business, you can send and receive money from anywhere in the World where the recipient has a bank account (restrictions apply to Countries under United Nations Sanction).

How can I benefit from using Moneywallah Business?

With Moneywallah™ you can:

  • Sign up and start sending in just a few minutes
  • Have the flexibility to pay in 38 major currencies
  • Save up to 90% on the cost of their transfers when compared to bank transfers
  • Make repeat payments in a few clicks

You will get 24-hour delivery to over 200 countries including China, United States, Hong Kong and Poland.

How do I create an account?

To create an account with Moneywallah Business simply click on our ‘Register’ tab and then all you have to do is complete our sign-up form. Signing up is quick and easy and only takes a few minutes.

When sending money, you might need to provide additional documents for verification. We may ask for:

  • Proof of ID of the Company Representative
  • Proof of personal address of the Company Representative
  • Company bank statement
  • Company registration documents
  • Shareholder registration documents
How to send money with Moneywallah?

Sending money online with Moneywallah™ is fast and simple.

After signing up, you can then make a conversion by clicking on the ‘Conversion’ tab. You will be given the option to either buy or sell a fixed amount of currency and the date on which you wish the payment to be made.

You can set-up a beneficiary to receive the funds by clicking on the ‘Beneficiary’ tab and entering their details. Our software will automatically check to ensure that the details are correct.

You can then pay the beneficiary through our ‘Pay’ tab.

We will then process your transfer and notify you by e-mail once it has been completed.

The whole process should only take a matter of minutes. Paying an existing beneficiary can be done in under 30 seconds.

You can fund securely using a bank transfer. If you are in the UK and the payment you are sending is less than £250,000 you can send the funds by UK Faster Payments. Larger payment amounts need to be sent by BACS or CHAPS.

If you are domiciled outside of the UK, the maximum amount you can fund will be dictated by local rules. For instance, those within the Euro Zone can use a SEPA Credit Transfer which has a funding limit of €100,000 per transaction.

For more details on ‘How to Send Money’ please see our explanatory video ‘How to Use Moneywallah™’ under the ‘Help’ tab at the top of the page.

What countries and currencies are available?

With Moneywallah Business, you can send money to 212 countries including China, United States, Hong Kong and Poland.

You can make payments in the local currency of your recipient’s country. With a SWIFT transfer, you can also pay in major currencies such as USD, EUR or GBP.

We currently can send money from anywhere in the European Economic Area – the UK, the Eurozone, Sweden, Norway, Denmark and Switzerland – to over 200 countries.

Get in touch and let one of our dedicated customer support agents know which country you would like us to add next.

How safe is Moneywallah?

Keeping your money safe is our number one priority. Our liquidity partner and payment service provider is:

  • Fully FCA authorised (Ref: 900119)

We also use 24/7 payment protection with data encryption to make sure that your money transfers are always safe.

What are the minimum and maximum transfer amounts?

Moneywallah™ is designed for customers, like you, who on average do or are likely to transfer more than £10,000 each month [or £120,000 pa].

The minimum transfer amount is 100 GBP, while the maximum transfer amount depends on your delivery and payment method.

Payments via SWIFT have no upper limit.

Please note that some recipient’s banks have a limit set on how much they can receive, so you should double check with them before sending.

How to send money online?

With Moneywallah™ it is easy and fast!

  1. Create an account.
  2. Set-up a beneficiary
  3. Choose an amount and pay securely via bank transfer.
  4. Check all transfer details and confirm payment.

We will deliver the money instantly in some cases, with most recipients getting the funds within one hour to one working day.

How much are money transfer fees?

Moneywallah™, in most cases does not charge a fee to make a transfer.

We will always offer you our lowest foreign exchange rates – in many cases up to 90% lower than high street banks!

What is the fastest way to send money abroad?

With Moneywallah, recipient can receive money instantly in some cases! Exact delivery times are always shown after choosing the country and delivery method. Keep in mind that things like bank holidays or time differences can affect this. Compare that with the usual bank transfers of 3-5 working days. Plus, we always keep you notified of the entire process as it happens – no more waiting around and wondering where your money is.

How to use Moneywallah?

Using Moneywallah™ is simple and will usually only take a couple of minutes to set up the entire transfer.

We currently can send money from anyone of 57 jurisdictions Worldwide – including the UK, the Eurozone, USA, Canada, Hong Kong and China and the ANZAC region – to over 200 countries.

For a full list of the Countries we are able to accept transfers from please see our ‘Jurisdictions’ tab in the ‘Help’ section.

How safe is Moneywallah?

Very – keeping your money safe is our number one priority.

That’s why our liquidity provider is:

All to make sure your transfer is secure. Plus, we offer a 100% money back guarantee.

How do I close my Moneywallah account?

For regulatory reasons, we can only permanently delete accounts which haven’t been used in 5 years. However we can always deactivate an account for you.

If you wish to do so, please contact our Customer Support team.

Why was my account blocked?

If you have signed up for more than one account, one of your accounts may have been deactivated, as each Moneywallah user can only have one account.

To find out more information about why your account may have been deactivated, please contact our Customer Support team.

Can I have multiple accounts?

You can only have one Moneywallah account per person.

Please be careful, as if you create duplicate accounts it may result in all the accounts being deactivated.

My Account
Can I edit my personal information after I sign up?

You can edit your personal information such as your password and address, at any time. Using the website, simply head to your account dashboard and choose “My details” from the menu.

The security of your account is very important to us, so we ask that if you need to make any changes to your name, birthdate or home country that you contact our Customer Support team directly.

How can I edit details of a recipient?

On our website, go to the “Recipients” section and click more options (⋮) next to your recipient’s name. Then, choose “Edit”, where you can edit their details directly.

How can I change my password?

On our website, you can do so by going to your Moneywallah dashboard and clicking “My details” from the menu.

Swift Transfers
What is a SWIFT transfer?

SWIFT transfer is a transfer that is sent via the SWIFT international payment network. With Moneywallah you can make SWIFT transfers to more than 100 countries around the world, in major currencies including GBP, USD and EUR.

You’ll need a SWIFT-BIC code as it allows us to identify your recipient’s local bank.

Important information to note

  • The receiving bank might charge a handling fee to receive a SWIFT transfer
  • Most transfers are delivered within 24 hours
  • The receiving account has to be held in the chosen currency
How can I find my recipient’s SWIFT-BIC code?

A SWIFT-BIC code is unique to your recipient’s bank branch, so in order to find their SWIFT code, please ask your recipient to get it from them and provide it to you.

What are the delivery times?

SWIFT transfers usually take one working day.

Please note that it may take longer to process the transfer on public holidays.

What are the minimum and maximum amounts per transfer?

Moneywallah™ is designed for customers, like you, who on average do or are likely to transfer more than £10,000 each month [or £120,000 pa].

The minimum amount for a transfer is 100 GBP and there is no maximum amount.

Please note that some recipient’s banks have a limit set on how much they can receive, so you should double check with them before sending.

Transfer
How do I set up a transfer?

Setting up a transfer is easy and can be done in a few simple steps.

To start, choose your delivery method. Then enter the recipient details, the amount you want to send and pay for the transfer by bank transfer.

Your transfer will then be processed and delivered to your recipient. The delivery time of your transfer may vary depending on the country you are sending to, the delivery method you choose [‘Priority’ or ‘Regular’] and how you pay for the transfer.

Most payments are made either the same day or next day on cleared funds [time zones allowing].

For more information on how to use Moneywallah™ please visit the ‘How to Use Moneywallah’ tab under the ‘Help’ section at the top of the page.

How long will my transfer take?

Globally, 94% of transfers with Moneywallah™ takes less than one day. The delivery time of your transfer may vary depending on the country you are sending to, the delivery method you choose and how you pay for the transfer.

Transfers of less than €15,000 from the UK to Europe can generally be sent to the recipient in under 30 seconds [on cleared funds].

If you pay using UK Faster Payments or SEPA Instant Credit the funds should be received by us immediately. If you pay with a bank transfer in the UK, it can take up to 1 working day for your payment to reach Moneywallah’s account. For other European countries, it can take up to 2 workings days. Normal SEPA transfers are usually received in a matter of hours.

Once we have received your payment, we will immediately process your transfer and notify you via email.

Please note that sometimes transfers can take a little bit longer if additional documents are required or if you send money over the weekend or on public holidays.

For a full list of payment delivery times please see the ‘Payment Timelines’ tab under the ‘Help’ section at the top of the page.

How can I pay for my transfer?

You can easily pay for your transfer with a bank transfer.

You can send the money to Moneywallah’s account using the following details:

Bank name: Barclays Bank Plc
Account name: The Currency Cloud Ltd
Sort code: 200605
Account number: 73137015
IBAN No: GB20 BARC 2006 0573 1370 15
SWIFT code: BARCGB22

Please remember to include your payment reference when making the bank transfer and to double check that the amount is correct.

Can I make recurring transfers?

Moneywallah currently does not have the option for setting up recurring transfers. We’re constantly adding new features, so keep an eye out as we hope to offer this in the future.

What is a Transfer ID?

A Transfer ID is a unique number given to every transfer you set up.

It is the number you’ll need to give our Customer Support team if you contact them with any questions. You can find the Transfer ID in your transfer history and in emails you’ve received.

General information

How do I create an Moneywallah account?

Signing up to Moneywallah is simple, and only takes a few minutes.

To create an account with Moneywallah, you’ll need to sign up through our website.

How much does it cost to send money with Moneywallah?

The exact fee can vary based on where you are sending to and from, and the delivery method that you choose.

With Moneywallah, you can save up to 90% vs banks and traditional money transfer providers, with great rates and low fees starting at just £1.

Which countries can I send from?

We currently can send and receive money from anyone of 57 jurisdictions Worldwide – including the UK, the Eurozone, USA, Canada, Hong Kong and China and the ANZAC region – to over 200 countries.

For more information please contact Customer Support or see the ‘Jurisdictions’ tab under the ‘Help’ section at the top of the page.

Is Moneywallah a bank?

Moneywallah is not a bank – but we’re as safe as one.

Our liquidity partner isa fully authorised Electronic Money Institution for sending money to over 200 countries around the world.

What are the hours of the Moneywallah Customer Support team?

Our Customer Support team is here to help from Monday to Friday, from 9am to 6pm GMT.

Head over to our Support Centre to find out how you can contact us.

Delivery methods

Simply choose Direct to bank as the delivery method and then enter your recipient’s bank account details.

We currently offer this service only for the Philippines.

How safe is Moneywallah?

Keeping your money safe is our number one priority. Our liquidity provider and payment service provider is fully FCA authorised (FRN 900199) for the issuing of electronic money.

They are required to hold our customers’ funds with trusted global institutions in completely separate accounts, meaning that your money is always protected.

  • 100% data encryption

    Your information is completely secure – we never share your details with third parties

  • 24/7 security verification

    Our systems use advanced technology to constantly scan transfers, protecting your money while stopping any unusual activity

Where can I find your privacy policy?

Protecting your personal data is very important to us, and it is always kept secure.

You can find the full details of our privacy policy here.

Sending/Requesting money by mobile phone

Can I cancel my transfer?

In order to cancel a transfer, please contact our Customer Support team as soon as possible.

As some transfers can go through in as little as a few minutes, please note that if your transfer has already been completed, it will not be able to be cancelled.

Transfers that were not paid are automatically cancelled after a few days.

You can easily contact us by going here.

How can I view the status of my transfer?

Moneywallah™ lets you keep track of your transfer every step of the way.

If you are using our website, simply log in to your Moneywallah™ dashboard, click on the ‘Search’ tab and check the status of your transfer from there.

Payments sent using SWIFT can be tracked in real time so you will know exactly where the money is in the payments process and when it is received by the beneficiary.

Why does the status say “Transfer completed”, but the money isn’t in my recipient’s account?

When you see “Transfer completed” this means that we have successfully delivered your transfer to your recipient’s bank. Their bank will then process the transfer and pay it into your recipient’s account. For most transfers, this usually happens within 24 hours.

If the money is still not in the recipient’s account after 3 working days, please get in contact with our Customer Service team, who will be more than happy to help you.

How long will my transfer take?

Globally, 94% of transfers with Moneywallah™ takes less than one day. The delivery time of your transfer may vary depending on the country you are sending to, the delivery method you choose and how you pay for the transfer.

Transfers of less than €15,000 from the UK to Europe can generally be sent to the recipient in under 30 seconds [on cleared funds].

If you pay using UK Faster Payments or SEPA Instant Credit the funds should be received by Moneywallah™ immediately. If you pay with a bank transfer in the UK, it can take up to 1 working day for your payment to reach Moneywallah’s account. For other European countries, it can take up to 2 workings days. Normal SEPA transfers are usually received in a matter of hours.

Once we have received your payment, we will immediately process your transfer and notify you via email.

For more information on sending to specific countries, please head to our ‘Help’ section at the top of the page where you can check the delivery times for the country that you are sending to.

Please note that sometimes transfers can take a little bit longer if additional documents are required or if you send money over the weekend or on public holidays.

What is a Transfer ID?

A Transfer ID is a unique number given to every money transfer you make, to help you keep track of it.

It also is the number you’ll need to give our Customer Support team if you contact them with any questions. You can find the Transfer ID in your transfer history and in emails you’ve received.

How will I know when my transfer is completed?

Once your transfer is completed, you will receive an email confirming that it has reached your recipient’s bank, or has been collected, in the case of cash pick-up. The status of your transfer will also change in your transfer history.

If you have any questions about the completion of your transfer, please contact our Customer Support team.

How do I pay by a bank transfer?

When setting up a transfer, choose “Pay by bank transfer” as your payment method.

Moneywallah’s bank details will then be shown on the confirmation page, and we’ll also email them to you.

What is a SWIFT transfer?

SWIFT transfer is a transfer that is sent via the SWIFT international payment network. With Moneywallah you can make SWIFT transfers to more than 100 countries around the world, in major currencies including GBP, USD and EUR.

You’ll need a SWIFT-BIC code as it allows us to identify your recipient’s local bank.

Important information to note

  • The receiving bank might charge a handling fee to receive a SWIFT transfer
  • Most transfers are delivered within 24 hours
  • The receiving account has to be held in the chosen currency

Security

Transfer Verification
Why do I need to provide additional documents?

Sometimes, depending on the amount you’re sending and the recipient’s country, we need to ask you for a few more details. This is due to our Know Your Customer (KYC) Policy, which is a standard safety procedure across financial services in the EU and the UK. It helps us keep your money secure by verifying that it’s actually you sending the money.

Help with documents for Proof of Identity (POI)

Verifying your Proof of Identity is a quick and simple process that helps us keep your money secure by verifying that it’s actually you sending the money.

We only request documents when they are required to process a specific transfer and in most cases it only takes a few hours to be approved.

To verify your identity, all you have to do is provide one of the following:

  • Passport
  • Driving license
  • National ID card
  • Residence permits (from UK, France, Spain and Germany only)

Please make sure these documents are in colour, are in .jpg format, are less than 3.7MB and include the following information:

  • Your first and last name
  • Date of birth
  • A clear picture of you
  • Expiry date
  • Document number

If your Proof of Identity document it was rejected, please check the following:

  • All of the details are clearly visible and the picture is not blurry
  • The picture is not in black and white
  • The document has not expired
  • The information on your document matches the details in your Moneywallah account

Your documents are always safe with us – we will never share them with any external companies.

Help with documents for Proof of Funds (POF)

Verifying your Proof of Funds is a quick and simple process that helps ensure the safety of your transfer further. We only request documents when they are required to process a specific transfer and in most cases it only takes a few hours to be approved.

All you have to do is upload one of the following to verify your funds:

  • Bank statement/screenshot from your online banking
  • Payslip
  • Credit card statement
  • Tax rebate receipt
  • House sale receipt or car sale receipt
  • Inland revenue payment slip
  • Bank loan documents (including mortgages)

Please make sure these documents are in .jpg format, are less than 5MB and are not older than 3 months.

If the document is a bank statement or credit card statement, it should include the following information:

  • Your first and last name
  • Account number
  • Balance of the account (it should cover the amount you want to send with us)
  • Date of issue
  • A logo or clear name of the bank
  • History of the recent transactions of the account

If the document is not a bank statement, it should include the following information:

  • Your first and last name
  • Amount received (it should cover the amount you want to send with us)
  • Date of issue
  • A logo or clear name of the company or authority which issued your document

If you have uploaded a Proof of Funds document but it was rejected, please check the following and then re-upload the document:

  • All of the details are clearly visible and the picture is not blurry
  • The document is not older than 3 months
  • The information on your document matches the details in your Moneywallah account

Your documents are always safe with us – we will never share them with any third parties or other companies.

Help with documents for Proof of Address (POA)

Verifying your Proof of Address is a quick and simple process that helps us keep your money secure by verifying that it’s actually you sending the money.

We only request documents when they are required to process a specific transfer and in most cases it only takes a few hours to be approved.

To verify your address, all you have to do is provide one of the following:

  • Electricity, water or gas bills
  • Official letters from a government or local authority
  • Bank statements

Please make sure these documents are in .jpg format, are less than 5MB, are not older than 3 months and include the following information:

  • Your first and last name
  • Address
  • Date of issue
  • A logo or clear name of the sender
  • The type of document (utility bill, bank statement, etc.)

If you have uploaded a Proof of Address document but it was rejected, please check the following and then re-upload the document:

  • All of the details are clearly visible and the picture is not blurry
  • The document is not older than 3 months
  • The information on your document matches the details in your Moneywallah account

Your documents are always safe with us – we will never share them with any third parties or other companies.

How long does the verification process take?

The verification process normally takes a few working hours.

Please note that it may take longer during the weekend or public holidays, as our Compliance team doesn’t operate at these times.

Troubleshooting
What happens if I send two bank payments?

If you accidentally send us two bank payments for the same transfer, please get in contact with our Customer Support team as soon as possible.

We will then refund you for the second payment, which usually reaches your account in 2-5 working days.

What should I do when my transfer is cancelled?

There are a few reasons why your transfer might have been cancelled.

  • We did not receive any payment for the transfer
  • We did not receive the required documents
  • Incorrect recipient details
  • Your recipient did not pick up the transfer (in the case of Cash pick-up)
  • Operational reasons outside of our control

Sometimes people might try and make multiple transfers, but end up paying for only one of them. Please always check your transfer history to see if the cancelled transfer might be a duplicate transfer.

If none of these reasons apply to your cancelled transfer, please get in contact with our Customer Support team who will check it for you.

What should I do if I provided the wrong recipient details?

If this happens, please contact our Customer Support team as soon as possible and they’ll correct the transfer for you.

Please remember to then correct your recipient’s details in your account, to make sure the next transfer will go through.

What should I do if I made the bank transfer with the wrong payment reference or without it?

If you sent us the correct amount from a bank account that’s registered in your name, we’ll still be able to locate your payment. Please note that it might take us a little longer, as we’ll be looking for it manually.

Where can I find my transfer history?

On our app, you can easily view your transfer history by tapping the “History” tab.

If you are on our website, you can find your transfer history by going to your account dashboard and clicking “Transfers”.