CityAM is London’s financial and business publication, appreciated by several people across the capital each week. Launched in 2006, it incorporates the latest economic, political and business news. Just recently they adopt money transfer services and feature it on their website. However, there is a cath as they do not actually handle the service but pass it through MoneyCorp.

This article is not a standard review as CityAM money transfer service is just a white label and is operated by MoneyCorp.

About The CityAM Money Transfer Service

CityAM defines their money transfer service implying that it’s theirs. The truth is, their services are carried out and operated by MoneyCorp. This means that they do not initiate the transfers and exchanges but pass it over to the established and known MoneyCorp.

In most cases, you might feel suspicious of having passed over a third party, but in this occurrence, it may be more favourable since MoneyCorp is an experienced company in terms of money transfer. CityAM, on the contrary, is a publication that simply tries to propel customers to register and utilise MoneyCorp services; yet, this does not mean you must avoid the service they offer in general.

MoneyCorp As CityAM’s Service Provider

MoneyCorp was established in 1962. The length being in money transfer service speaks that the company is undeniably experienced, and it is perceived on their services. Besides, their Trustpilot rating is 4.3 out of 5 from 3,457 reviews. Considering CityAM’s independent free-market lineup, it is not an astonishment that they are more inclined to associate with a payment service company that interlocks economies all over the globe.

The advantage though of passing the service to MoneyCorp is that you’re certain of the service that you can get. This is because the company provides a highly professional service that is guaranteed. Fees are held at its least, while exchange rates are not clearly indicated, they are assumed around to 4% better than you can get from banks.

Pros and Cons


  • Fee-free online transfers
  • Protect Customers Funds
  • Expert guidance on the FX market
  • You could receive an exchange rate that is up to 4% better than a typical high street bank. 


  • Do not initiate the transfer themselves
  • It is just a white-label service
  • Simply working on making affiliate money by getting people to sign up for MoneyCorp

Should You Use The CityAM Money Transfer?

In our own point of view, there’s nothing wrong when patronizing the CityAM Money Transfer Service. Besides, you have the liberty to choose should you prefer to utilise the outlet. However, CityAM Money Transfer Service is not as well-founded as MoneyCorp. Since it’s just a white-label, why not go straight away to Money Corp if you need to make international money transfers. It may be easier if you go directly to MoneyCorp. Also, on the event that you have forex complaints, all these will be directed to MoneyCorp. 

Services Offered By CityAM With MoneyCorp As The Provider

Competitive Rates

CityAM International Payments can help you save as much as £4,000 on a transfer of £100,000. This is a rate that is way better than what banks can offer. This is because when utilising CityAM, the rate that you can get is 4% better from high street banks who usually offer lower rates and large fees. So, whether you plan to purchases an estate or property overseas, or simply need to transfer funds for international payments, getting such mark on the exchange currency can help you save more.

No Fees for Online Transfers

Each time you transfer money abroad utilising the service of high street banks, you can possibly get around £40 transfer fee. If sending through CityAM, you can shun from these high charges since they provide fee-free for their online transfers. This means, making regular payments abroad could potentially save you around £480 per year.

Expert Supervision

If you open an account, you will have a personal account manager. Your personal account manager will help you manage your account to determine the risk of currency exchange in the market. This is because the foreign exchange rate is not constant. It changes over time; thus, an account manager can help you figure out alternative tools depending on your requirements. 

24/7 Online Money Transfers

 The Moneycorp online payments platform enables you to facilitate overseas transfers with comfort. With just a tap away you can save the details of your receiver, schedule payments and view your entire transaction history online 24 hours a day, 7 days a week.

 Protect and  Secure Customer Funds 

Moneycorp is commissioned and directed by the Financial Conduct Authority for the stipulation of payment services. The company has been in business since 1979. They’re one among the most established company in terms of foreign exchange. Just a year ago, they’re able to cater to more than 6.4 million client transactions and traded £10 billion in approximately 100 different currencies. This figures alone imply that your transactions are protected and secured.

Other Money Transfer Options That You Can Consider

There are vast choices of money transfer companies that you can choose from. To compare and know more about all these companies check it HERE.

Some of these companies are as follows:


TorFX - Competitor of Foreign Currency Direct for international money transfer ServicesTorFX allows you to register as in individual or business. It offers no fees for personal transfers and can provide scheduled transfers, stop-loss orders, forward contracts and limit orders. They are great to travel money solutions offered in the UK. They do not have cash pickups and multilingual website.



TransferWise - Competitor of Foreign Currency Direct for international money transfer Services

They serve individuals, businesses and online sellers. You can take advantage of their Borderless Account to hold funds in up to 27 currencies. The cost of a transfer depends on the currencies concerned, the transfer amount, and the payment mode.


CurrencyFair - Competitor of Foreign Currency Direct for international money transfer ServicesYou can register as an individual or a business. They allow scheduled transfers and offers a low transfer amount of €8. The transfer fee includes €3 plus 0.35% of the transfer amount



WorldRemit logo for Currencies Direct Money Transfer alternatives by iCompareFX
WorldRemit allows you to transfer money to the cash pickup location or bank accounts. Their website is available in several languages with a low minimum transfer amounting to £1.



FrontierPay - Competitor of Foreign Currency Direct for international money transfer Services

The company provides scheduled transfers, market orders, and forward contracts. Their personal transfers are free of charge with the minimum amount you can transfer is at £500.



XE - Competitor of Foreign Currency Direct for international money transfer Services

XE is one of the big brands in terms of money transfers. They do not impose charges on personal transfers and hedge funds using limit orders.



FAQs On Money Transfers

How does International Money Transfer work

If you wish to transfer money straight from your UK bank account, you can do so through your bank’s online banking platform. You will need to provide additional information, including the following:

  • The name and address and the destination country of the recipient of the money
  • The bank account number of the sender and the international bank account number
  • You will need to state the amount you wish to transfer, currency to which the money is to be converted.
  • Specify the party to settle the fees. Is it to be paid fully by the recipient or you or by both of you?

With this guide, you can now easily, cheaply and conveniently send money overseas stress-free. If you do not know yet how to go about it, you can contact an experienced Moneycorp expert on TorFX Currency Transfer or online money transfer service to help you.

Are All Companies that transfer Money Regulated by the Financial Conduct Authority (FCA)?

While all UK-based firms providing overseas money transfers are authorized by the Financial Conduct Authority, it is important to check with their official website to know whether or not the provider you are about to enlist is an authorized member.

Is it Possible to Negotiate an Exchange Rate Now and Transfer Money Later?

Yes, you can lock in today’s exchange rate to be sued later to transfer money abroad. This can be done through a forward contract in which you agree on a given exchange rate to be used at a future date usually up to 12 months from the date of the agreement. This arrangement is usually good since currency movements are volatile and you stand a risk of losing your money when the wave tilts against you.

By doing so, you cushion yourself against the risk of paying higher costs by agreeing with your currency broker to fix a rate to be used when making a payment in the future. Be sure to ask your providers or online places such as TransferWise, Azimo or OFX Overseas if they have a rate-alert service to help you make quick decisions in advance.

How long does it take for Money to Hit a Foreign Account?

Foreign exchange brokers are known to offer the fastest ways of transferring money overseas. They can help you send money so that your recipient gets it the same day or the following day. As for street banks, this could take a few days (between 4-6 days) for the recipient to receive. However, banks also offer expedited services at an extra cost.

Which is the cheapest Option, a business money transfers or a bank?

Typically, business money transfers are less costly compared to banks. Banks tend to offer lower exchange rates besides the additional charges such as commissions, administration. Therefore, it is good to always check and compare banks as well as currency brokers to see which ones offer favourable exchange rates and lower fees.

How Do I check the best Deals for International Money Transfers?

Everybody is interested in ways to cut on cost and increase the overall benefits, so you can compare money transfer services using some of the online platforms and tools such as FXcompared,, Currencies Direct and where you can see and choose the most competitive quotes. By providing the details about the currency and the destination, you can find a custom-made quote that suits your specific needs.

Company Details
  • Registration Number: 01513692
  • Incorporation Date: 1980-08-22
  • Status: Active
Contact CityAM Money Transfer Review
  • via Phone: +44 (0)20 3201 8900 Call
  • via Email
  • via Post: Fountain House, 130 Fenchurch Street, London, England, EC3M 5DJ