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How long will it take to get my account open? |
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TranzMoney is a regulated money service business and is obliged to conduct thorough identification checks when it registers a new customer. A scanned image (or digital photo) of your passport and a recent bank statement or utility bill needs to be uploaded through the Register page. Once we receive this information, we will send you an Account ID within 24 hours. Your account is then open, and you can go onto the Transfer Money webpage and place your order. After you submit this order, you will be shown the TranzMoney bank account details. You will need to go to your online banking website and transfer the funds, which will receive the exchange rate at the next crossing session after your funds hit our company bank account.
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| Q. |
What is the minimum and maximum amount I can transfer through TranzMoney per day? |
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There is no minimum and there is no maximum. If you wish to transfer an amount greater than 100,000 local currency units, please contact us as it requires a slightly different process.
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| Q. |
How long will it take for my order to arrive at my beneficiary's bank account? |
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Your funds need to have hit the TranzMoney bank account before we can cross your order and allocate the exchange rate. You must remember to include your name or TranzMoney account ID in the reference field. so that we can identify the incoming funds. Once your order is crossed then it will usually take approximately 1 - 5 business days for the funds to arrive into your nominated beneficiary account.
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| Q. |
How many crossing sessions do you have each day? |
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There are two sessions each day- at 12pm and 4pm (UK time). You will receive the midpoint of the interbank exchange rate existing at the time of the applicable crossing session. It is impossible to receive a better exchange rate for your money transfer!
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When can I place an order? |
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Orders can be placed through our website at anytime.
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How do I pay a fixed amount of foreign currency (eg to pay an exact amount of an overseas bill or to make a mortgage payment denominated in foreign currency)? |
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In this situation, you will need to place a limit order with us, by filling in the relevant field on the Transfer Money order form. In other words, you will need to calculate what exchange rate you need to receive in order for the correct amount to hit the beneficiary bank account. Please note that your calculation will need to use the amount net of the transfer fee. If you need further explanation or help with this process, do not hesitate to contact us.
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Which countries can I transfer to/from? |
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At the moment, TranzMoney has the ability to handle money transfer orders to/from bank accounts located in the UK, EU (Eurozone), Australia and New Zealand. We are constantly working on opening company bank accounts in new countries so that we can provide our services to and from these locations. Please email or register with us if you wish to be contacted as soon as we offer services from your country - contact@tranzmoney.com.
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Do you accept cash deposits at banks or transfers from third parties? |
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TranzMoney provides bank account to bank account transfers only- no cash deposits will be accepted. Furthermore, transfers must be from bank accounts held in the name of the person making the transfer - third party bank accounts may not be used to fund the transaction.
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Do you allow transfers to online gambling accounts? |
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Yes, except for citizens of the United States, as the US currently has legislation prohibiting this. If/when the legislation changes, we will update our policy accordingly.
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Can I cancel an order after I have submitted it? |
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No. Once we have received the funds we will have made arrangements for the transfer to the beneficiary bank account, so this is not possible.
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Will my personal details and bank account numbers be kept private and secure? |
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Absolutely. We adhere to a strict set of privacy rules, which can be seen in the Privacy Policy outlined on this website. We are legally bound by the Data Protection Acts 1984 and 1998 in the UK and these Acts provide rigorous and enforceable obligations with respect to the safeguarding of sensitive customer information.
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What do I do if I have a problem or complaint? |
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Contact details for TranzMoney can be found in the Contact Us page. We will address your concern as soon as possible.
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