Sending or making a Foreign Currency international payment with FIGPay is simple. Whatever your reason for needing to make such a payment, in less than 5 minutes your funds could be on their way to the destination you have selected.
How does it work
It couldn't be simpler. Login (or call us) and set the amount of foreign currency you need. We instantly tell you the best rate of exchange. You accept and we guarantee it. You then send us your domestic currency and we send the agreed foreign currency to the bank account you specified. |
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How long does it take?
It's fast. You can register with us in 2 minutes and set up a payment immediately. As soon as we receive your funds we send your foreign currency out the same day. British Pounds, US Dollars and Euros arrive the same day, anywhere in the world. Most other currencies will clear in the specified account the next working day. |
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How do I get my funds to FIGPay?
Sending your funds to FIGPay could not be simpler. We send you an email that confirms the exchange rate we agreed and also tells you our bank account details. Contact your bank or use your internet banking and send your domestic currency to us. This can happen the same day or (if your bank is not up to date) can take 3 days. Don't worry though, your exchange rate is fixed whilst we all wait for the bank to deliver the money. |
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Will I save money?
Yes. FIGPay is the most cost efficient way to send money overseas. We have much lower overheads that banks or brokers and pass these savings on to our clients, saving them up to 4% of the amount transferred. |
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How much does it cost?
Making an international payment through FIGPay is free. There are no fees or hidden commissions. We make a small amount on each payment in the difference between the exchange rate we get and the exchange rate you get. Payments below £3,000 carry a small processing charge to cover our costs. |
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Can I use my bank?
You can use your bank instead of FIGPay but you will get far less foreign currency for your money than we give you. Banks also normally charge you a fee to make the payment. They will probably ask you to fax confirmation of your needs. Usually the bank won't tell you the rate until after the payment is booked. Who's rate would you trust? |
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Am I eligible for an account?
Anyone can open an FIGPay Account. We cater for both individuals and companies. We will check all our customers' details to ensure we are only sending money for genuine people. |
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Is it safe?
Absolutely. Your money is completely secure in Client Segregated accounts with Barclays Bank Plc and insured up to £1m per transaction by an 'A' rated insurer. We have never lost a penny of our clients' funds and have made thousands of payments totalling many millions of pounds. |
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Are there minimum or maximum amounts?
We can transfer any amount for you, no matter how big or small. However, if the amount is below £3000 we have to charge a small processing fee to cover our costs. This is up to £12 which is still much cheaper than banks. |
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Can I cancel a payment?
If you need to cancel a payment because your situation changes, please call us immediately on the number above and we will do all we can. When we cancel a payment we have to sell the currency we had bought for you. If this is at a loss, then we would ask you to cover the costs. |
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Will I know the rate up front?
Yes. Unlike your bank, we tell you the rate before we do the exchange. Unlike any other currency broker, we tell you the real rate you would get before you register with us. We are proud of how good our rates are and don't need to hide them from you. They are our best selling tool! |
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