Question 1

Who are Monetae?

Accepted Answer

Monetae are a dynamic financial services provider delivering tailored solutions to businesses and private individuals across four core areas:

Payment Processing
FX Risk Management
Business Funding
Personal Currency Transfers

We empower businesses to efficiently handle international transactions and effectively manage exposure to currency fluctuations, significantly reducing financial risks. Our versatile funding solutions—including swift business loans and specialised funding options tailored to sectors like ecommerce—ensure businesses of every size, from agile startups to large corporations, can secure the capital required to expand and leverage global opportunities.

For private clients, Monetae provides expert currency transfer services, ensuring secure, efficient, and cost-effective personal transactions overseas. Whether you're buying property abroad, relocating, or simply sending money internationally, our personalised solutions offer peace of mind and competitive rates.

Question 2

Why should I use Monetae?

Accepted Answer

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.

Question 3

What type of businesses use Monetae?

Accepted Answer

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.

Question 4

Why businesses use Monetae?

Accepted Answer

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.

Question 5

Does Monetae help private clients too?

Accepted Answer

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

Question 6

Why private clients use Monetae?

Accepted Answer

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.

Question 7

How do I open an account?

Accepted Answer

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.

Question 8

How long does it take to open an account with Monetae?

Accepted Answer

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.

Question 9

What's the account opening process?

Accepted Answer

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.

Question 10

What documents do I need to open an account?

Accepted Answer

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.

Question 11

I need help uploading my documents

Accepted Answer

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.

Question 12

How do I make a complaint?

Accepted Answer

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 complaints@monetae.co. 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.

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Who are Monetae?

Why should I use Monetae?

What type of businesses use Monetae?

Why businesses use Monetae?

Does Monetae help private clients too?

Why private clients use Monetae?

How do I open an account?

How long does it take to open an account with Monetae?

What's the account opening process?

What documents do I need to open an account?

I need help uploading my documents

How do I make a complaint?

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