Enquiries by our customers. Answered.
We have compiled a list of questions we are often asked regarding our services, structure and other helpful subjects.
The rates that appear online as "mid rates" or "interbank rates" only apply to amounts over £5,000,000.
They are an indicative rate halfway between the buy rate and the sell rate and no-one can trade at these rates.
We will endeavour to quote you an exchange rate closer to these mid rates. If there is an exchange rate you are trying to achieve, we will watch the market for you and can transact or call if the rate is reached.
The time a transfer of funds takes varies, dependent upon a number of factors.
For major currencies transfers can take place the same day, upon receipt of your funds before 12pm. For other currencies it can take 1-3 working days.
Issues that our clients should be aware of are:
There are several factors that influence the foreign currency market.
Some of these can be expected or foreseen. However none of them can be absolutely predicted.
At Worldwide Currencies, our currency teams draw on their many years of experience in order to manage and account for the factors that affect the currency markets, such as:
Economic Interest Rate Policy, Interest Rate Yield ("Carry Trades"), Economic Performance, Equity Markets, Political Hedging, Social Unrest, Commodity Prices, Inflation, Mergers & Acquisitions, Inward/Outward Investment, Central Bank Intervention, Reserve Diversification, Intervention (to support a currency), Currency Reserve sell-off, Terrorism, Natural Disasters, and other Unforeseen Factors.
We will always endeavour to offer you competitive rates.
Our service is totally transparent, the rate is all inclusive. There are no commission charges and no transfer fees.
You can transfer funds to Worldwide Currencies via BACS, CHAPS or Internet transfer
Once you have bought your currency from Worldwide Currencies or your Market Order has been filled, you will receive a trade confirmation (invoice) detailing our bank details and where you should transmit the funds.
We are required under the strict Anti-Money Laundering Regulations which govern our industry to ensure that we hold on record proof of identity and a current address for all our clients.
The registration process also allows us to identify your needs and allocate an appropriate personal currency consultant, who can best deal with your particular requirements.
Worldwide Currencies aim to keep foreign currency exchange simple, so rather than expect you to plough through a long list of questions and answers, please contact us, where one of our highly experienced currency consultants will ensure that you are given clear, jargon free answers to all of your questions.
We make available a list of European Member States and examples of their IBAN’s.
To ensure all parties involved in European cross-border payments gain the benefits available from the use of IBANs, European directives have been passed to enforce their use.
With effect from 01/01/2006, you must provide the beneficiary's IBAN and receiving bank SWIFTBIC (Bank Identifier Code) for all International Payments in Euros to the 25 EU Member States plus Iceland, Liechtenstein, Norway and Switzerland in accordance with European Directives.
You and your European trading partners may also benefit from reduced charges for payments in Euros between EU Member States if a valid IBAN is quoted in your payment instruction in conjunction with the beneficiary bank’s SWIFTBIC.
AT611904300234573201
BE62510007547061
CY17002001280000001200527600
CZ6508000000192000145399
DK5000400440116243
EE382200221020145685
FI2112345600000785
FR1420041010050500013M02606
DE89370400440532013000
GR1601101250000000012300695
HU42117730161111101800000000
IS140159260076545510730339
IE29AIBK93115212345678
IT40S0542811101000000123456
LV80BANK0000435195001
LI21088100002324013AA
LT121000011101001000
LU280019400644750000
MT84MALT011000012345MTLCAST001S
NL39RABO0300065264
NO9386011117947
PL27114020040000300201355387
PT50000201231234567890154
SK3112000000198742637541
SI56191000000123438
ES0700120345030000067890
SE3550000000054910000003
CH9300762011623852957
GB54BARC2099201234567
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(During office hours: 9–5pm (GMT), Mon–Friday)
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