Here you can find answers to some of the most commonly asked questions we receive.
Why use Pure FX instead of your bank?
Pure FX is a wholesale currency broker and will offer you a much better exchange rate. So you will save a significant amount of money when compared to your bank.
Do you charge commission?
We charge no commission and there are no hidden charges. What's more, we'll arm you with the appropriate information and financial tools so you can protect yourself from any currency risk.
Is my money safe?
Yes. We want you to feel totally comfortable when dealing with us, which is why we only hold client funds in designated client bank accounts held by our principle bank Lloyds Group Plc. This is completely separate from our business accounts, and the same type of account a solicitor or accountant would use.
Is Pure FX regulated?
Yes. Pure FX is directly authorised by the Financial Conduct Authority (FCA) under the Payment Services Directive and fully complies with anti money-laundering regulations.
What costs are involved?
On transfers below £50,000 (or foreign currency equivalent) there is a charge of £15 for a priority international transfer. In addition, for Single Euro Payments Area (SEPA) transfers below £50,000, there is a £5 charge. For amounts above this, we allow one free transfer per transaction. You also have the option to purchase an ITR (International Transfer Receipt) at a cost of £10 which offers proof of payment.
What rate will I get?
The exchange rate you receive will be based on the amount you are transferring, the currency you are buying and the current interbank level (the price at which one bank exchanges currency with another). You can find out more on our What Influences Exchange Rates page.
Is it more difficult to make transfers with Pure FX?
No. We make thousands of currency transfers, and know exactly what information international banks require in order to credit funds promptly. So, if anything, your payment will arrive much quicker when dealing with us, than if you were to try and do it yourself.
How do I make a payment after I have agreed an exchange rate?
Settlement is required within two working days of agreeing an exchange rate with your currency dealer and can be made by chaps, online transfer, cheque or BACs. Unfortunately, we cannot accept payment by cash.
Is it quick to make a transfer?
Once you've registered an account, you will be in a position to instruct your currency dealer to buy/sell currency on your behalf. So you can be ready to go as quickly as it takes to fill in a form.
How do I send money abroad on a regular basis?
Pure FX has a very effective plan for clients needing to make ongoing transfers to France, Spain or Portugal. You can find more information about it here.
Should you have any other questions then, of course, please don't hesitate to contact us. We’re happy to help.
Do you offer any safety advice for people moving abroad?
Yes, Pure FX has partnered with the Foreign and Commonwealth Office’s "Know Before You Go" campaign to do just this. You can find tips about being safe while you’re abroad here.
Request a rate alert with us, and we can get in touch the moment your target rate becomes available.