FAQs

Why should I use Select Money rather than my bank?
Select Money has partnered with Moneycorp, the UK’s leading foreign exchange and payments specialist, staffed with experts in their field. Some high street banks might not have the expertise nor market knowledge necessary to offer you the most competitive exchange rates or to monitor the currency markets on your behalf.

How does Select Money’s Currency Exchange service save me money?
We get you better rates of exchange than those offered by the banks and our partners’ market knowledge helps you to trade at the right time, when the currency markets are likely to be moving in your favor rather than against you. It is always our aim to get you the best rates for your chosen currency.

Will I understand how it works?
We will explain the process and your options using jargon free terms and recommend the best options for your specific circumstance. Moneycorp’s team of experts will ensure that you understand how everything works before you make any trading decisions. Our aim is to save you money while giving you peace of mind.

Is dealing with Select Money going to take up much of my time?
Far from it, you can open a trading account immediately online through the MySelectProperty login area or alternatively request a application form from your account manager. Everything else can be dealt with over the telephone, saving you both time and money.

How long do transfers take?
This depends on where in the world you are sending your funds. Usually, transfers to Western Europe and the US are made the same day. Funds travelling further East take two days. Your Moneycorp Dealer will inform you of transfer times to specific destinations.

What are the costs involved?
Select Money does not charge a commission fee and there are no hidden costs involved in the transfer.

What about receiving/receipt charges made by my bank abroad? What are they likely to be?
Select Money guarantees that you will not pay any commissions or receiving bank charges when transferring funds overseas.  If your destination bank charges for receipt of your funds, we will ensure that a full refund will be issued, regardless of the transaction size or which bank is involved.

What do I do now?
Your account manager will discuss all the trading options available to you once we have established your specific requirements. Any telephone instructions that you issue will be confirmed to you in writing.

I am not a Select Property customer, can I use Select Money
Select Money products and services are currently only available to Select Property customers. Visit Select Property website today to find out more.