Business Help

Monetae is a dynamic financial services provider offering businesses tailored solutions across three key areas: Payment Processing FX Risk Management Business Funding By helping companies streamline their international transactions and protect against currency fluctuations, we make it possible for businesses to operate more efficiently and reduce their financial risks. Our funding solutions — ranging from quick business loans to specialised options like ecommerce funding — enable businesses of all sizes, from startups to large established enterprises, to access the capital needed to scale and seize global opportunities.

To us, we’re large enough to offer competitive pricing that can rival any major bank, but we’re still small enough to deliver a personal, tailored service that you can’t always get from larger institutions. We value the relationships we build with our clients, ensuring that each one feels truly supported. With Monetae, you’re not just another account number — you’re a business partner, and we’re genuinely interested in helping you grow and succeed. You get the best of both worlds: competitive rates and personalised attention.

Almost any business can use us. Startups to major companies. We serve many industries, but import and export firms are our speciality. We customise solutions for worldwide expansion, currency risk management, and fast business funding.

Businesses use Monetae for several important reasons, including: Business growth and expansion: Access to flexible funding to scale operations, hire new staff, or move into new territories. Purchasing inventory: Funding to increase stock levels and meet rising customer demand. Paying suppliers: Efficient payment solutions for smoother supplier transactions. New equipment or technology: Finance options for investing in new tools and infrastructure. Working capital: Ensuring cash flow to cover staff wages, manage day-to-day operations, or relocate to bigger offices. By offering leading currency exchange rates and flexible business funding, our clients are able to zoom in on what is really important to them.

Yes, we help individuals to achieve better currency rates when making one-off, or occasional international payments.

We assist individuals in getting the best exchange rates for a variety of personal reasons, including: Buying or selling property abroad Sending money to family or friends Paying for overseas goods or services Covering medical or education fees Whether you’re making a significant purchase overseas or managing regular international payments, Monetae ensures that you get competitive rates and a seamless experience tailored to your needs.

You can create your account online. After our compliance checks, you'll be able to access our business funding options, get live quotations, and buy and sell currency online or by phone.

Once our compliance team receives your application, the review process will begin. The duration of this process can vary based on the size of your organization and the industry in which you operate. However, on average, we typically have accounts fully authorised and ready for trading within 48 hours.

You'll need to agree to our terms of business and submit your identification for AML purposes. We'll submit them for approval by our compliance team. As part of this, we're also required to complete a "Know Your Client" (KYC) process for all new clients. Once approved, your account will be opened, and you'll receive confirmation via email within just a few minutes.

a) Proof of Address: Submit a utility bill (electricity, gas, landline, water, or broadband) or a bank statement, dated within the last 3 months. The document must clearly show your full name and address. We cannot accept mobile phone bills or TV licences, and all documents must be original, not edited. b) Proof of Identification: Provide a valid passport, government-issued ID, or photocard driving licence. Ensure the documents are current and in date. When Uploading: Ensure the name and address match your registration. Files must be clear and under 10MB each.

If you need help uploading your documents, please don’t hesitate to get in touch with us at (+44) 0207 119 1546. A friendly member of our team will be happy to assist you through the process and answer any questions you may have.

At Monetae, customer satisfaction is at the heart of everything we do. If you're unhappy with any aspect of our service, please reach out to us. We are committed to fully understanding your concerns and finding solutions to prevent them from recurring. The quickest way to submit your complaint is online. You can send us an email at info@monetae.com. Alternatively, you can send a letter to our address: Monetae Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA When Can You Expect a Response to Your Complaint? You can expect a written response within 15 business days of us receiving your complaint. If, for any reason, we are unable to provide a full response within this timeframe, we will inform you of the delay and give you a new deadline of up to 35 business days from receipt of your complaint, by which you will receive a complete reply. What If You're Not Satisfied with Our Final Response? If you are not satisfied with our final response, you have the right to refer your complaint to the Financial Ombudsman Service within six months of receiving our final communication. You can contact the Financial Ombudsman Service at: Phone: 0800 023 4567 (free on mobile and landlines) 0300 123 9123 (local charges apply) +44 (0) 20 7964 0500 (if you're abroad) Their hours of operation are 8 am to 8 pm Monday to Friday, and 9 am to 1 pm on Saturdays. Address: Financial Ombudsman Service Exchange Tower London E14 9SR Website: www.financial-ombudsman.org.uk Your feedback is invaluable in helping us improve our services.

Monetae offers a wide variety of business funding solutions, tailored to support businesses of all sizes and credit profiles. We provide: Business Loans: Whether your business has good or bad credit, Monetae helps you find quick business loans with competitive rates. Perfect for expanding operations, launching new products, or covering day-to-day costs, our same-day business loans ensure your business gets the funding it needs—fast. Merchant Cash Advance: For businesses with steady credit card sales, a merchant cash advance allows you to borrow against future revenue. This type of fast business loan is ideal for companies needing immediate working capital, enabling you to grow your business or navigate short-term cash flow gaps. Ecommerce Funding: Monetae’s ecommerce funding options help online businesses scale quickly, whether it's for inventory purchases, marketing campaigns, or expanding into new markets. With access to flexible funding, you can seize growth opportunities and stay competitive in the global digital marketplace. Asset Finance: If your business needs to purchase or lease equipment, our asset finance solutions provide the capital to acquire the resources you need to grow. Perfect for startups or established businesses looking to upgrade infrastructure. Startup Loans: Starting a new business? Monetae offers startup funding options that empower entrepreneurs, even with limited credit history. We connect you with lenders who offer fast business loans to launch your venture. Equity Financing: For businesses seeking investors, we connect you to venture capital, business angels, and crowdfunding platforms. Ideal for growth-driven businesses looking for strategic investment to accelerate expansion. We have 1,000+ funding options available, catered to businesses of all shapes and sizes. Visit our funding section to learn more.

Monetae specialises in same-day business loans, ensuring your business receives funding as quickly as possible. With our efficient application process, you can often get approved and funded within 24 hours. This speed is perfect for businesses needing immediate capital for growth, cash flow issues, or new opportunities.

● Time-saving: We simplify the process of finding funding, so you can focus on running your business. ● Tailored solutions: We match you with the most suitable funding and payment options. ● Expert advice: Our team offers valuable guidance throughout the funding process. ● Security: We ensure industry-leading protection of your personal and business information. ● Trusted partner: We are a trusted provider in the UK financial sector. ● Regulated: Monetae's partners are authorised by the FCA, ensuring transparency and reliability.

No. We only run soft credit checks which means applying won’t affect your credit score. But if you decide to draw down funds from us, the business loan will show up on your credit report.

Even though we offer business loans, we’re not a bank. We’re an independent company, created specifically for small and medium-sized enterprises, and our mission is to make it easy for your business to get financing when and where you need it.

A business loan, like a personal loan, needs you to submit an application to the lender. Typically, banks, financial institutions, and alternative lenders provide business loans. An eligibility criteria is typically used to determine how much money an application may borrow. Lenders assess the firm's creditworthiness, financial history, and business strategy before issuing a loan. The loan conditions, including interest rates and payback durations, differ depending on the loan type and the borrower's profile. 1. Choose a lender 2. Choose whether you want a secured or unsecured loan 3. Review the contractual terms outlined in the lender's terms and conditions for each loan you apply for. Before proceeding, you should carefully examine the following 4. Complete the lender's application; depending on the lender, you may be required to pay an application fee 5. Review the lender's conditions, such as the interest rate and payback period 6. If you are satisfied, accept the terms and receive your cash If you accept a lender's conditions, you are committed to a specified repayment schedule. Typically, you will return the loan monthly with interest for a certain length of time, such as 12 months. However, you may typically make early repayments if you want to, depending on the terms imposed by the lender.

Typically, they invest the funds in things like more stock, paying staff, or new equipment. Also, when they are waiting for an invoice or whatever, it helps with cash flow.

Since business loans are seen as expenses for a firm, the interest paid on them usually qualifies as tax deductible. The loan's overall balance, though, is not deductible. For tax reasons, keep thorough records of all loan-related costs.

If a business owner uses personal credit to cover a loan or if the loan is personally guaranteed, then the loan might impact personal credit. Late payments or loan default could affect the person's credit score too.

Though difficult, getting a business loan with poor credit is not impossible. While credit is only one of the factors lenders consider to evaluate your risk, alternative lenders will be a bit more considerate and also look at your business debt, cash flow, and financial documents to see if you can responsibly repay the loan.

Interest rates on some of our business loans start at 6.7% per year, which is a lot less than the rates on a business debit or credit card. It is also possible to get an unsecured loan without putting up any land or assets as collateral. If you want to pay off your loan early, there are no fees either.

Yes and No. Some of our business loans require a personal guarantee, and some don't. Simple.

It can take anywhere from a few hours to a few weeks to go through the loan process. How long it takes to get a business loan varies on the lender and the type of loan.

FX Risk Management is vital for businesses looking to protect their financial health and long-term profitability. Currency fluctuations can significantly impact revenues, costs, and cash flow, particularly for companies that operate internationally or rely on imported goods. By implementing an FX Risk Management strategy, businesses can lock in favourable exchange rates, reduce unpredictability in cash flow, and safeguard profits from adverse market movements. It allows them to plan more accurately, avoid unexpected losses, and remain competitive in global markets. Monetae helps businesses develop tailored strategies to mitigate such risks effectively.

You can get better currency exchange rates with Monetae because of our relationships with numerous of liquidity providers. This extensive network forms a liquidity pool, which enables us to efficiently scan the market and identify the most competitive rates available for our clients. Every day, we trade millions, this allows us to purchase currency at wholesale prices so unlike traditional banks that rely on set exchange rates, Monetae leverages the flexibility and variety of our liquidity sources to pass on better savings. With this approach, we help clients reduce costs, manage foreign exchange risk, and optimise their international transactions.

We make money from the exchange rate spread (which is the difference between the buy rates and sell rates). Our overheads are miniscule in comparison to major banks and other financial institutions - this means we're able to charge a much smaller margin and we can still make a profit (without charging any extra fees, charges, or commissions). We simply take a much smaller percentage on every transaction and pass the saving onto you.

Monetae offers an unmatched combination of premium exchange rates, first-class service, cutting-edge technology, and advanced online trading capabilities. By accessing a deep pool of liquidity providers, we provide more competitive exchange rates than other currency brokers. Our dedicated team offers personalised guidance to ensure seamless transactions, while our technology empowers businesses with real-time data and efficient trading tools. Whether it's managing currency risk or facilitating cross-border payments, Monetae blends the best of human expertise and technology to deliver a superior financial experience for our clients.

While sticking with your bank may seem easier, in the long run, you risk losing significant savings. Monetae's tailored corporate foreign exchange services offer more competitive rates, and for just a bit of extra paperwork, our prices and service is always worth the compromise. You'll get the convenience of seamless transactions either by phone or through our online system — at no extra cost. Plus, our expert team is dedicated to providing a smooth, transparent service that outshines traditional banks.

Monetae does not charge additional fees, commissions, or hidden costs on your foreign exchange transactions. The only fee applied is a payment fee for the onward transfer of your funds, ensuring full transparency in your dealings. Our competitive exchange rates come without the typical overheads or extra charges often seen with banks and other financial institutions, meaning you save more on every transaction while receiving top-tier service. This straightforward approach helps your business cut costs and avoid surprises.

We offer a full range of FX products, including spot contracts, forward contracts, dynamic forwards, and hedging tools like stop loss and market orders. By offering versatile hedging tools like dynamic forwards and market orders, Monetae ensures businesses can protect their bottom line and stay agile in a constantly changing FX market.

We offer a variety of tools to help you mitigate your currency risk. One of the most widely used options is a forward contract, which enables you to lock in a currency rate today for a future date, while only requiring an initial margin (a deposit) to secure that rate. The remaining balance will be due on the agreed future date. This approach is beneficial because it eliminates the uncertainty of fluctuating currency rates over the next three or six months. By securing your currency rate in advance, you can confidently manage your costs with suppliers and reduce your exposure to market volatility.

A forward contract is an agreement to buy or sell foreign currency at a predetermined exchange rate on a specific future date. This allows you to lock in a rate and protect your business from future exchange rate fluctuations. Monetae offers tailored forward contracts to suit your business needs.

Businesses typically use forward contracts when they have future foreign currency obligations or receipts and want to eliminate the uncertainty associated with exchange rate fluctuations. Common scenarios include: Importing or exporting goods and services: Businesses can protect their profit margins by locking in the exchange rate for future payments or receipts. Making foreign investments: Forward contracts can safeguard against currency fluctuations affecting the value of overseas investments. Repatriating profits: Businesses can lock in a favourable exchange rate for repatriating profits earned in foreign currencies.

Once we assess your business needs, we can provide an accurate cost breakdown. Costs may include deposits for securing forward contracts or margin calls if the market moves unfavourably. To learn more about potential costs and how they work, please contact us at: +44 207 119 1546 We will be happy to guide you through the process and answer any questions specific to your circumstances.

Forward contracts have standard deposit requirements and you can discuss these in advance with your dedicated account manager.

A margin call is a request from a broker, like Monetae, for a client to provide collateral to cover outstanding foreign exchange contracts. This collateral is typically in the form of cash and serves to protect the broker from fluctuations in the currency market. At Monetae, cash collateral is treated as a prepayment towards the client’s foreign exchange contracts. This means that it effectively reduces the total amount owed by the client when the contracts mature. We maintain cash collateral in a segregated client account to ensure its security. The amount required for a margin call and the timing of these requests are determined by the terms agreed upon between the broker and the client. Generally, Monetae clients must deposit an initial amount of cash collateral when entering into forward foreign exchange contracts. If the market value of these contracts declines significantly enough to offset the initial collateral by a pre-established margin, an additional margin call will be issued. For clients with a credit facility, the specifics of margin calls will depend on the terms set out in the agreement.

The amount of risk your company is ready to accept in order to accomplish its objectives is known as its "risk appetite". A number of variables, including price tactics, competition, industry circumstances, and your present financial situation, affect your appetite. After determining your company's tolerance for possible market swings via an analysis of currency market patterns, we suggest a course of action that fits your risk tolerance and allows room for business growth.

The exchange rate you receive will be determined by the current interbank market price. This rate will incorporate our margin, which varies based on the size of the trade, and will be communicated to you either online or over the phone. Please be aware that live interbank rates fluctuate every second.

Currency rates are in a perpetual state of flux due to a variety of interconnected factors that influence supply and demand dynamics in the foreign exchange (FX) market. Understanding why these rates change is essential for businesses and individuals engaged in international trade or investments. Here are the key reasons: Interest Rates: Central banks play a pivotal role in determining currency value through the interest rates they set. When a central bank raises interest rates, it typically attracts foreign capital seeking higher returns, increasing demand for that currency and driving its value up. Conversely, when interest rates are lowered, the currency may weaken as investors seek better opportunities elsewhere. Economic Indicators: Various economic metrics, such as GDP growth, inflation rates, and employment figures, directly impact currency strength. For instance, a rising GDP typically indicates a healthy economy, which can bolster confidence in the currency. In contrast, high inflation can erode purchasing power and lead to currency depreciation. Geopolitical Events: Political stability and international relations significantly influence currency rates. Events such as elections, trade negotiations, or geopolitical tensions can lead to uncertainty, causing traders to buy or sell currencies based on perceived risks. For example, Brexit generated considerable volatility in the British pound as investors reacted to the uncertainties surrounding the UK's exit from the EU. Market Sentiment and Speculation: Traders' perceptions and sentiment can lead to short-term fluctuations in currency values. Speculation, driven by news reports, forecasts, and social media, can create trends where currencies are bought or sold based on anticipated movements rather than fundamental economic indicators. This can lead to rapid changes in exchange rates. Supply and Demand: The fundamental principle of supply and demand governs currency valuation. Factors such as trade balances, tourism, and foreign investment can influence how much of a currency is in circulation. For example, a country with a trade surplus will see increased demand for its currency, which can strengthen its value. Natural Disasters and Economic Crises: Unexpected events such as natural disasters, financial crises, or pandemics can also lead to sudden shifts in currency values. For example, the COVID-19 pandemic had far-reaching effects on global economies, causing rapid changes in currency rates as countries implemented various measures to mitigate economic fallout. In summary, currency rates are affected by a complex interplay of interest rates, economic indicators, geopolitical events, market sentiment, and supply and demand dynamics. Understanding these factors can help businesses and individuals navigate the FX market more effectively and make informed decisions regarding currency transactions.

To make an international payment, you'll need the following: Beneficiary's IBAN (International Bank Account Number) Beneficiary's SWIFT/BIC code Beneficiary's full name or company name (as on their bank statement) Beneficiary's billing address (required except for Eurozone payments) For payments to the U.S., you'll also need: Beneficiary's full address Beneficiary's account number Beneficiary's ABA (American Banking Association) or routing code

1) Open an Account: Start by creating an account with us either online or by calling our team at +44 (0)207 119 1546. 2) Personal Dealer Assignment: Once your account is set up, you will be assigned a Personal Dealer who will discuss your specific requirements and provide pricing information along with currency market insights. 3) Transaction Agreement: If you decide to proceed with a transaction, you can agree to and book it verbally with your Personal Dealer. 4) Confirmation of Transaction: After booking, you’ll receive a confirmation known as a Contract Note. At this point, you'll need to provide the details of the beneficiary for your foreign currency payment. Any options you purchase will also be documented similarly. 5) Transfer Funds: Ensure that your funds are sent to the Monetae Client Account and arrive by the agreed date for currency payout. 6) Currency Transfer: Once your funds have cleared, we will transfer the foreign currency to the specified account on the agreed value date. 7) Online Trading: You can also trade foreign currencies and make international payments through our convenient Monetae Online platform.

You can choose from several payment methods to complete your trade: Faster Payments: By using your unique Monetae account number and sort code, you can transfer amounts up to GBP 1,000,000. Payments are credited 24/7, typically within 30 minutes CHAPS: This method allows for same-day transfers. Please note that your bank may impose a fee for this service BACS: This includes online payments, which usually take 3-4 days to process Debit Card: This option is available exclusively for personal accounts Important: Monetae does not accept cash payments under any circumstances. Note: The methods listed may not be applicable to all transaction values or settlement dates.

Same-day Transactions: Payments must be completed by 3pm on the same working day. Spot Transactions: The standard payment timeframe is 2 working days, but Monetae offers flexibility of up to 5 working days if arranged when booking your transaction. Forward and Forward Time Options: A 10% deposit is required within 2 working days, with the remaining 90% due 24 hours before the completion or maturity date. Payments are processed according to the agreed value or settlement date established with your broker or online. Please be aware that late payments may result in additional costs.

Once a transfer is booked, paid for, and the value date reached, it usually cannot be cancelled. However, if you urgently need to cancel immediately after booking, please contact us at +44 (0)207 119 1546 right away, and we will assess how we can help. If cancellation is possible, it may require reversing the trade, which could involve fees. For full details, please refer to our terms and conditions.

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. It is a global messaging network that enables banks and financial institutions to send and receive payment instructions securely and efficiently. SWIFT allows the rapid transmission of payment details between banks across different countries, ensuring transactions are processed in a fast, safe, and standardised way.

The SWIFT payments system underpins all our transactions, connecting us to a global network of banks owned by VISA. Once your funds are received in your account, they are typically converted within an average of 5 minutes. From there, your payment can reach its destination anywhere in the world within just 2 hours. After sending a payment, you will receive a comprehensive Proof of Payment, including an International Banking Receipt known as an MT103, which you can forward to your suppliers for their records.

An MT103 is a standard SWIFT payment message used for international wire transfers. We use SWIFT for all payments made through Monetae. MT103s serve as proof of payment and include important details like: Payment date Amount Currency Sender and recipient information They’re also helpful for tracking payments that may be missing or delayed, as they show the payment's path between banks. While all banks that use SWIFT create an MT103 for each payment, they usually do not share these documents with clients but for complete transparency, here at Monetae, we do.

A SWIFT code is a standardised code (also known as a Business Identifier Code or BIC) approved by the International Organization for Standardization (ISO). It uniquely identifies banks and financial institutions worldwide. Key Features: Length: SWIFT codes are either 8 or 11 characters long. For example: BARCGB22. How to Find a SWIFT Code: Bank Statements: Look on the front page of your bank statements. Online Banking: Check your bank’s online banking services. Customer Service: Call your bank’s customer service team for assistance.

IBAN stands for International Bank Account Number. It is used to identify bank accounts internationally and is typically found on bank statements or within online banking services. An IBAN can consist of up to 34 letters and numbers, which include details about the recipient's country, bank, and account number. Your recipient should be able to provide this information easily from their bank.

Monetae is a proud member of SWIFT (Society for Worldwide Interbank Financial Telecommunications), a global network that facilitates the rapid transfer of domestic and international money. This affiliation allows us to execute your foreign currency transfers with exceptional speed and efficiency. When you book a trade, you will also set a value date, which is the date on which the payment will be processed. As long as your funds reach the Monetae Client Account by this agreed date, your payment will be executed as planned. Delivery times can vary depending on the currency involved, but we often achieve same-day delivery for transactions involving euros, US dollars, Canadian dollars, and British pounds.

Faster Payments is a UK banking initiative that allows for near-instantaneous electronic transfers between participating banks. Unlike traditional BACS payments, which can take up to three working days to clear, Faster Payments are typically processed within seconds, even on weekends and holidays. This service supports various transfer types, including scheduled payments, one-time immediate payments, and standing orders. However, there is a limit of £250,000 per transaction.

While most Faster Payments are completed within seconds, some may take up to two hours to appear in the recipient's account. Delays are uncommon but can occasionally occur. You can find more information about potential delays on the Faster Payments website.

Same-day payments, also known as CHAPS (Clearing House Automated Payment System), guarantee that funds are transferred to the recipient's account on the same day the payment is initiated, provided the sending bank's cut-off time is met. This system is typically used for larger, time-sensitive transactions.

The cut-off time for same-day payments for business customers is usually 3 pm on weekdays, although some banks may have later cut-off times. Payments submitted after the cut-off time or on weekends will not be processed until the next working day.

The main difference lies in the speed and cost. Faster Payments are generally instantaneous and best suited for smaller amounts, while same-day payments are guaranteed to arrive on the same working day, even for large sums, but may incur fees.

No, both Faster Payments and same-day payments are only available for transfers between UK bank accounts. For international payments, you'll need to use alternative methods such as SWIFT transfers.

If you're unable to settle a transaction, Monetae will need to close out the contract by selling the associated currency back to the market. Any losses or charges incurred during this process will be the responsibility of the client.

We can transfer 38 currencies to over 200 countries.

There is no maximum limit on how much you can transact. However, depending on the type of foreign exchange transaction you want to make, there may be a minimum limit.

Monetae will always send the full amount of currency purchased, but the recipient's bank or intermediary banks may deduct fees from the total credited to their account. These fees are beyond Monetae's control, and as they are applied by the receiving bank, Monetae cannot reimburse you for any such charges. We recommend checking with the recipient's bank to understand any potential deductions.

Mass payments are a way to send multiple payments to different recipients all at once. This is useful for businesses that need to make a lot of payments, such as paying employees, suppliers, or vendors.

Individual payments require separate transactions for each recipient. This can be time-consuming and inefficient, especially if you need to make a lot of payments. Mass payments allow you to send multiple payments simultaneously, which saves time and reduces the risk of errors.

Yes, mass payments are particularly useful for international payments. They can help businesses save money on currency exchange fees and make it easier to manage payments in different currencies.

A multi-currency account is a type of bank account that enables you to hold, send, and receive funds in various currencies. Instead of needing separate accounts for each currency, you can manage them all within a single account.

Multi-currency accounts are particularly beneficial for: Businesses with international clients or suppliers: If your business regularly conducts transactions in multiple currencies, a multi-currency account can streamline your operations and reduce costs Frequent travellers: Holding multiple currencies in one account can simplify spending and avoid the hassle of exchanging currency while abroad Individuals receiving income or making payments in foreign currencies: This could include freelancers, investors, or anyone with financial dealings across borders

Yes, payments made using the Monetae online platform can be tracked. For more information, feel free to reach out to our Customer Support team at +44 (0)207 119 1546.

If your money transfer hasn't arrived at the recipient, first check if the value date has passed and ensure that the funds have been debited from your account. You can also confirm the beneficiary's bank details and account information. If everything seems correct, contact Monetae's customer support team on +44 (0)207 119 1546 for further assistance. They can help trace the transaction and identify any delays or issues that may have occurred during the transfer process.

If this applies to your situation, please contact us on 44 (0)207 119 1546 before placing your transfer so we can assist you effectively.

Monetae and our partners adhere to the safeguarding requirements set forth by the Payment Services Regulations 2017 (PSRs) and the relevant guidelines issued by the Financial Conduct Authority (FCA). To protect your funds, we utilise the "segregation method," which ensures that your funds are kept separate from all other funds held by the firm. It's essential to understand that only 'relevant funds' are safeguarded under this method. According to the PSRs, 'relevant funds' refer to: (a) Sums received from, or for the benefit of, a payment service user for the execution of a payment transaction. (b) Sums received from a payment service provider for executing a payment transaction on behalf of a payment service user. When we receive relevant funds, they are promptly transferred into a safeguarded client account, as mandated by the PSRs. This segregation means that client funds are not mixed with company money. In the unlikely event of insolvency, third-party creditors will not have access to these safeguarded funds, ensuring that all client balances will be returned as part of the insolvency process. To maintain the integrity of our safeguarding practices, Monetae conducts daily reconciliations - both internally and externally - to verify that our internal and external records accurately reflect the funds held in safeguarded accounts. We understand that security is a critical factor when selecting a payment institution. If you have any questions or concerns about our practices, please feel free to reach out to us using the contact information provided on our website. We're here to help and address any enquiries you may have.

One of the primary methods Monetae will use to contact you is via email. Therefore, it's crucial that you have complete confidence in the communications you receive from us. To help you identify potential fake emails, consider the following tips: if you ever have any doubts about the legitimacy of a message, do not reply, click on any attachments, and call us as soon as possible so we can assist you. Scammers often attempt to imitate financial institutions, so watch out for these red flags: Illogical Content: Scammers often cast a wide net with broad topics to deceive as many people as possible. If you receive an email that seems unrelated to your foreign exchange dealings or doesn't match previous communications from us, please contact us to verify its authenticity. Suspicious Sender: Scammers may use email addresses that closely resemble legitimate ones, such as ‘john@monetae.com’ versus ‘john@monetae0.com’. Always double-check the sender's email address. False Sense of Urgency: Fraudulent emails often create a sense of panic, warning that your account will be closed or that you’ll miss out on a prize if you don’t act quickly. Treat such messages with caution. Poor Spelling and Grammar: Reputable organisations maintain professional standards in their communications. If an email contains numerous errors, it's likely not from us. Never Provide Sensitive Information: Monetae will never ask for your username or password via email. If you receive such a request, do not respond; it is likely an attempt to compromise your account. If you suspect any suspicious activity, please reach out to us immediately for guidance.

At Monetae, your financial security is our top priority. If you ever suspect that a payment you have made, or have been asked to make, may not be legitimate, please contact us immediately using the information available on our contact us page. Our team is ready to address any concerns you may have. We take all reports regarding potentially concerning payments very seriously. Each report is thoroughly investigated, and we make every effort to recover any funds if a payment has been sent under suspicious circumstances. As of October 7, 2024, there have been enhancements to your reimbursement rights in the UK regarding payments made as a result of an Authorised Push Payment (APP) scam. For more information on your rights to reimbursement and to see if you qualify, please visit our guide on Authorised Push Payment (APP) Reimbursement – Know Your Rights.

Every transaction is thoroughly scrutinised and verified for legitimacy. This includes checking for suspicious activity, validating payment information, and comparing it against your registered details. These checks minimise the risk of unauthorised access and fraudulent activity.

Yes. We prioritise the security of your data and are fully compliant with the Data Protection Act. We only collect the minimum amount of information required to facilitate transactions on your behalf. Rest assured, we do not share any personal details with third parties except for what is essential to complete your transactions.

Monetae complies with rigorous data security standards. This includes: Physical Security: Data is stored in multiple high-security Tier 4 Data Centres Network Security: Firewalls managed by dedicated staff, regular penetration tests Encryption: All network traffic and sensitive data are encrypted Data Security: Certified under ISO/IEC 27001:2013, the international standard for information security management Data Separation: Multi-tenant architecture ensures customer data is stored separately Strong Access Control: Unique IDs and two-step authentication are required for all access

Confirmation of Payee is a UK account name-checking service introduced in July 2020 for Faster Payments and CHAPS transactions. It allows individuals or businesses to verify the name of the person or entity they are paying, ensuring they are sending money to the correct recipient. This system was implemented to enhance security and reduce the risk of misdirected payments and fraud. By checking that the account details match the intended payee before completing the transaction, it helps protect customers from scams and accidental errors in payments.

You may not be eligible for reimbursement if any of the following conditions apply: You do not consent for Monetae to report the incident to the police You have made an international payment You have acted fraudulently You have shown gross negligence You have disregarded Monetae's interventions You submit a claim for a payment made more than 13 months before the reporting date You submit a claim for a payment made prior to October 7, 2024 To learn more about your reimbursement rights and whether you qualify, please check for more detailed information at Authorised Push Payment (APP) Reimbursement – Know Your Rights.