Frequently Asked Questions

Top FAQ questions

I have lost my password, can I recover it?

You can reset your password securely on-line. Click here to request a password reset.

Is my money safe when dealing with CurrencyCart/Regent Foreign Exchange?

Yes. CurrencyCart is a trading name of Regent Foreign Exchange Ltd, we operate segregated client currency accounts to ensure your funds are safe at all times. All accounts are held at Barclays Corporate Bank in London, UK.

Regent Foreign Exchange Ltd a Payments Institution authorised by the Financial Services Authority (the FSA) under the Payment Services Regulations 2009 (FRN 543156 ).

Regent Foreign Exchange Ltd is licensed by HMRC as a Money Services Business (MSB) License Number 12628353.

Regent Foreign Exchange Ltd is registered with the Information Commissioners Office under the UK Data Protection Act – Registration Number Z2653441.

What are CurrencyCart foreign exchange rates? 

Foreign Exchange rates fluctuate with market conditions. CurrencyCart gives you real-time access to market rates, so you can be sure that you are always getting the most current pricing.

How do I pay CurrencyCart for the currency that I purchase?

The only way to pay for your transactions with CurrencyCart is through a wire transfer (also known as a Telegraphic transfer). You would pay CurrencyCart in the same way you transfer money to your friends in the UK, it’s easiest via online banking, but you can also pay through your bank branch.

Does CurrencyCart accept cash?

No. We can only accept funds and pay any exchanged currency to beneficiaries via bank transfers.

How long does it take to complete a transaction – from the currency purchase through to receiving/transferring the purchased currency?

Typically, it would take between 3-4 business days for the end beneficiary to receive the funds. Transactions for some currencies can complete next day.

Can I cancel a transaction once I have placed it with CurrencyCart?

If the transaction has not completed yet, we will do our best to fulfil any cancellation requests. However, please be aware that there can be costs incurred in any cancellation. If you require more details, or would like to cancel a transaction, please contact us and we’ll be happy to help.

Is it free to register and access the on-line and phone platform?

Yes. It is completely free to open an account with CurrencyCart. You can register by completing the on-line form here.

Can I see and manage the orders placed over the phone in My CurrencyCart online?

Yes, you can see all orders placed over-the-phone and online in one convenient and secure online location, this is called ‘My CurrencyCart’. You can also purchase more currency, provide payment instructions to pay the purchased currency to a beneficiary bank account of your choice, as well as save and manage beneficiary bank accounts from one location.

I have submitted a transaction online, how do I know CurrencyCart received it?

CurrencyCart is a real-time online system that processes all transactions straight through to execution automatically. You will receive an email confirmation of your trade, and will also be able to see all the relevant transaction and payment instructions in the ‘My CurrencyCart’ section of your account.

How long does a transfer take?

It varies, but typically, it would take between 3 and 4 business days for end beneficiary to receive the funds. Transactions for some currencies can complete next day.

When do I have to pay CurrencyCart/Regent Foreign Exchange Ltd?

If you are purchasing currency for immediate delivery (3-4 days) then you should transfer the funds to CurrencyCart without delay on the same day. It may be possible to transfer the funds on the morning of the next day, before the cut-off time (this also varies depending on the currency). However, generally speaking it is best if you fund the transaction straight away – full instructions are sent by email as soon as you complete any order.

What are ‘forward contracts’?

A forward contract allows you to lock in today’s exchange rate for delivery of exchanged currency at a future date up to 12 months in advance. Please note that you will need to transfer a ‘margin deposit’ for any forward contract that you book. This is a small percentage (typically around 3-5%) of the total amount of the currency booked. Once you’ve placed a forward contract order with us, a confirmation email will let you know the amount of margin you will need to transfer straight away, as well as the final balance amount and payment due date.

Who can use CurrencyCart?

CurrencyCart by Regent Foreign Exchange is for anyone who requires an easy and cost-effective currency exchange and international transfers/payments service. This includes private individuals, businesses, charities, trusts and almost any other kind of organisation. Our main focus is to provide an easy-to-use system, completely transparent pricing and great customer service.

Can I deal over the phone as well as the Internet?

Yes, please feel free to call us and book your transactions over the phone. You can access our dealer line at the number given in the contact us page of our site. Some currencies are only available over-the-phone, and you would be notified of this if you try to place an order. You will notice that the online system is easy-to-use.

What does Swift code, ABA and IBAN numbers and Sort Code mean?

The SWIFT system is a secure messaging system that allows banks to instruct each other on payments and accounts that they hold with each other. Sometimes it is sufficient to provide a branch code, such as a BSB code in Australia, or Sort code in the UK. In the USA, we will need your ABA codes (also known as routing numbers). In Europe we require an IBAN number. These codes allow the CurrencyCart to accurately identify the bank and branch where your money is being sent.

What is wire and is it different from a Telegraphic transfer or TT?

A Wire Payment and a Telegraphic Transfer are exactly the same process. As such, a wire (or TT) is a way of making an electronic payment from one bank account to another. Please note that to send money using TT (wire) you will need to provide correct details of the recipient’s bank account. Information such as (1) account name, (2) account number (3) SWIFT BIC – Bank Identifier Code // ABA – if the transaction is for the US // BSB code for Australia // Sort Code in the UK.

Why should I use CurrencyCart/RFX for international payments and not my bank?

We save you time and money. Our rates are much more competitive than your bank rates. Please compare our service with your bank or currency exchange provider – you’ll find that you are paying a very high premium when you use your bank, and that CurrencyCart gives you more money for your money.

Will I get a confirmation of a payment transaction?

Yes. You will receive an online and email confirmation of your trade, any next steps you have to take, due dates for funds and onward payment instructions. Please make sure we have your correct email, and check any spam filtering to allow emails from currencycart.com, so that we can keep you fully posted when you make a transaction.

I am using another currency & payments provider, can I switch to CurrencyCart or use both service providers?

Yes, you can switch to CurrencyCart or register with us to compare rates with your existing bank or broker.

You will find that bank rates for international currency exchange and transfers/payments are generally considerably more expensive compared to CurrencyCart. We are confident you will find that CurrencyCart will save you money and time – please do take the time to compare our pricing and service.

CurrencyCart.com is open 24 hours a day, and we’re open when the international foreign exchange market is open (8.00am GMT on Mondays through to 5.30pm GMT on Friday) so you can exchange currency and make international payments at your convenience.

You can register online in just a few minutes, and because we electronically check your details, you can start to exchange currency and make transfers within 10 minutes of registration. Click here to sign up with CurrencyCart.

CurrencyCart is secure and easy to use! https://www.currencycart.com/signup/

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