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ACCOUNT NOW
- No transfer fees or charges
- Fully FCA authorised
- Personalised service & support
our international payments service offers clients the ability to send money transfers in a way that suits them. clients can simply log in to their online account to book transfers and to view live exchange rates.
clients also have the option to speak with one of our currency experts over the phone and by email, they are always on hand to offer assistance and guidance for our money transfer service.
value - market leading exchange rates that are guaranteed to beat your bank. no fees or charges.
service - dedicated account manager to deal directly with all your FX needs. access to our secure online platform.
security - fully FCA authorised service. Funds are held in segregated accounts with tier 1 banks.
- dedicated account manager
- 24/7 platform
- over 50 currencies
- personal & corporate accounts available
Our International Money Transfer Service is fully authorised by the Financial Conduct Authority (FCA). All funds transferred to us are held in segregated Barclays Bank PLC accounts to safeguard you. Our service is just as secure as any financial institution that is FCA regulated.
The COG Rational Account benefits from superfast
onboarding times - we aim to have your account open and ready to transfer
minutes after registering. Please upload your Proof of Identity (POI) as soon
as you register by clicking on the ‘Verify Account’ button on the online
portal.
The COG Premier Account is more heavily regulated,
and therefore takes a little longer to open – we aim to have this open
same-day. Delays can occur if necessary compliance
documentation is not uploaded upon registration. .
We undertake Know Your Customer (KYC) checks on all new clients.
This is to adhere to regulatory compliance obligations which are required by
law, to help mitigate the risks associated with criminals attempting to use our
service to launder money, commit fraud, or fund nefarious activities. All accounts require Proof of Identity (POI) documentation to
be uploaded during registration. If you do not provide this documentation upon
registration it may result in a delay to the onboarding process. You may be
required to provide further information and documentation depending on your
reasons for transferring funds. Any information supplied to us is totally
confidential, and only used for compliance purposes.
There are 100% no fees or charges associated with using
our service. We don’t believe that our clients should have to pay any fees or
charges when transferring funds overseas.
We offer our clients the freedom to transfer funds
in the way that suits them best. You can login to our online platform and book
transfers yourself with full view of the live exchange rate for totally
transparency. Alternatively, you can talk to one of our currency experts via
phone or email, and request them to book transfers on your behalf. Unlike many
of our competitors our analysts are always available to offer assistance and
guidance. Our COG Premier Account has the added benefit of having a dedicated
account manager to provide market insights and analytical advice to get the
most from your money.
We offer bank beating exchange rates that are up to 5%
better than your bank. Transferring £100,000 with us compared to your bank can
save you up to £5,000. On top of this your bank will charge you up to £40 per
transfer – we do this for free. We consistently analyse the marketplace to
ensure our rates are the best in the business.
We have a same-day service on the majority of
currencies, including all the major ones. Some of the more exotic currencies
can take between one and two days to reach the beneficiary account.
Our COG Rational Account has no minimum limit so it enables our
clients to transfer funds of any size. The COG Premier Account is aimed at
larger payments, so isn’t recommended for transfers under £50,000. There is no
maximum transfer value for either account.
You can rest assured that there will always be a friendly &
knowledgeable member of our team available when you need us. You can contact us
directly via phone & email between the hours of 9am-5pm on weekdays. Any
out-of-hour queries will be dealt with at the earliest possible
convenience.
You can lock in an exchange rate to safeguard you or your business
from market fluctuations up to 2 years in advance of your trade completion
date. Both of our accounts can be used to book in a forward contract by
requesting this service from your account manager.
We can arrange for you or your business to collect funds from
third parties. Simply make a request if you intend to use this service.
You will need to know the below recipient/beneficiary account
information:
·
The
full name of the account holder that you’re sending the money to.
·
The
recipient’s address.
·
The
recipient’s IBAN. An IBAN has the information we need to send a payment
overseas – please ask the recipient for this.
·
SWIFTBIC
code (for non SEPA payments only), please ask the recipient for this
There are sometimes additional requirements
depending on the destination country and currency. You will be asked for any
additional information as you proceed along the user journey when making a
payment.
You will be able to find these banking codes on your bank account
statement. They are generally located beneath your Account Number and Sort Code
on your account statement.
An IBAN is used when making or receiving
international payments. Your IBAN doesn’t replace your sort code & account
number ─ it’s an additional number with extra information to help overseas
banks identify your account for payments. IBAN’s can be up to 34 characters,
and consist of numbers and letters.
A SWIFT/BIC code (or SWIFTBIC, as it’s sometimes
known) is a code that helps overseas banks identify which bank to send money
to. A SWIFT/BIC code is made up of 8 to 11 characters, and also consists of
numbers and letters.
Both of our accounts are totally free to open, and
you are under no obligation to use our service when you open an account. You
can use the account to check live exchange rates ahead of your transfer.
In a word, no. Our cash rates are
based on numerous factors, such as the market rate and our stock levels. The exchange
rates for International Payments are based on the market rate, but we also take
into account how much you are looking to transfer. We always guarantee to beat
the banks, and we always monitor our competitors to ensure we are leading the
pack.
You can a call or email us to find
out the current exchange rate. However, the very nature of a live market means
that as soon as we provide the quote the market would have moved again,
resulting in a quote that is no longer ‘live’. Nevertheless, it will give you
an indication of the rate.
The best way to see the live
exchange rate is to sign-up for an account, and then login to the online
platform. This will give you total transparency of the live exchange rate. Clients
are free to sign-up for an account with no obligation to use our service.
Please see below for a step-by-step
process of how our service works:
REGISTER FOR AN ACCOUNT> BOOK A
TRANSFER> FUND THE TRANSFER> FUNDS CONVERTED AT AGREED RATE> CONVERTED
FUNDS SENT TO RECIPIENT BANK ACCOUNT.