If we have missed something just drop us a note on Contact Us and we will be happy to respond.
How much does it cost to transfer?
Most online and offline platforms offer to exchange currency at exorbitant rates or a hefty transaction fee, in some cases both. Now that’s a lot of money to lose for converting currency!
We at MatchedFX believe that our users should get the most bang for their buck, allowing them to spend more of their own money. We charge a nominal fee, usually less than $2 per transaction, regardless of the value you’re transacting.
How long does money transfer typically take?
MatchedFX can settle your transaction within minutes where it’s supported by the country domestic payment infrastructure.
As MatchedFX settles by making local payments, the actual money does not cross borders and is as quick as local currency transfers in the receiving country.
Additionally, you can transfer the money directly into a wallet supported in the destination country.
Are international transfers safe?
Yes. for two simple reasons.
- MatchedFX works on a settlement system which only exchanges when both sides have deposited, so your money is always safe and you will never match with someone who has not paid their currency. In simple words, you will either get the converted currency or, in the off chance we don’t match your bid, you will get your money back in the currency you deposited in.
- MatchedFX will be registered with the local regulatory authorities in the currency it deals with. The process and reporting will comply with your country’s law.
How many currencies can I exchange with?
We plan to start with GBP, EUR, AUD, AED and INR. Other currencies will be added as soon as possible.
How much can I send abroad?
We will follow the guidelines of the country, as well as, report the transaction to the central banks where required.
These guidelines and the purpose of transfer will determine the limit per transaction, as well as, the amount already transferred in a financial year.
How do I know the money will get there.
You provide the beneficiary details of where the money will be transferred. Once the transfer is initiated from our side, we will share the payment details (Date, Time – Reference No.) with you so you can track it if required.
In most cases, the amount will be available in a matter of minutes in the beneficiary account.
If there are any issues, you can alert our support team, we will track and get back to you.
How will the money be received?
When you send an international money transfer, we’ll deposit the money into your recipient’s bank account, Wallet or your digital Forex card.
You can also hold this as balance with us if you’d like to decide what to do with the converted currency later.
What documents do I need before making an international money transfer?
The country of your domicile will ultimately drive this.
MatchedFX will follow the KYC ( Know Your Customer) norms of the country, and this will determine what document(s), if any, will be required.
The app will automatically ask you and give you varied options so you know you always comply with the law.