FAQS
Your Go-To for Frequently Asked Questions.
Payments
We offer various methods for you to transfer funds securely. Once your payment is received, we'll promptly notify you. Please note that we are unable to accept cash payments.
- For online banking or telephone banking users: Your payment typically arrives within 2 hours if your bank supports Faster Payments Service. It's the most efficient way to send GBP payments, usually free of charge with a daily transaction limit. Details can be found here
- BACS payments operate similarly but may take up to 3 days to clear.
- CHAPS guarantees same-day payment if funds are sent before 14:00 on a working day, with no set limit on the amount. Your bank might apply a fee for CHAPS transactions.
Certainly. Should you desire to make a payment from an account under a different name, kindly reach out to your account manager prior to initiating the transaction. This will enable us to perform supplementary checks to ensure compliance with Anti-Money Laundering regulations.
After booking a transaction, your relationship manager will inform you of the expected arrival time for your funds. Additionally, you'll receive a confirmation email outlining transaction specifics, payment instructions, and expected timing.
To facilitate timely payment processing, please ensure your funds are sent in advance. For same-day settlement inquiries, your relationship manager can provide guidance on our cut-off times.
On the settlement date, once your funds have been cleared, we will proceed to make the payment to your designated beneficiary. Rest assured, we'll notify you upon sending the funds. Additionally, if you prefer, we can also notify your beneficiary via email. Kindly advise your beneficiary to anticipate payment from Metax Payments UK Limited.
Should your beneficiary not receive the expected funds from Metax Payments UK Limited within the specified timeframe outlined in "When will my beneficiary be paid?" please promptly reach out to your relationship manager. They will swiftly coordinate with our counterparties to address any issues and ensure resolution, while keeping you informed throughout the process.
You can easily add a beneficiary at any time following registration by contacting your account manager. Simply provide the beneficiary's name and pertinent bank details.
Depending on the country of the beneficiary's account, the required bank account details vary. Please refer to the information below for more details:
Metax Currency Exhange automatically verifies that the provided SWIFT and IBAN formats are correct.
Fees & charges
Metax Payments does not impose any onward remittance costs on you. However, it's important to note that your bank may levy a fee for sending payments to us, and your beneficiary's bank may also apply a receiving fee. Regrettably, these charges are outside our jurisdiction, but we will strive to provide guidance where feasible. Notably, no deductions should occur when trading Euros, Sterling, or other currencies within the European Economic Area (EEA).
Interbank trading involves banks exchanging currencies at the interbank rate, which they then pass on to customers with an additional spread. This spread represents the bank's profit margin. Notably, the size and influence of the customer often dictate the magnitude of this spread; larger or more influential clients typically receive smaller spreads and, consequently, better rates.
As experts in Foreign Exchange, we engage in substantial currency volumes, granting us access to preferential rates. Combined with our notably reduced overhead costs, we can afford to operate on a narrower spread, thus offering highly competitive rates to all our valued customers.
General
To begin, simply click on the "Sign Up" button and fill out our straightforward, fast, and secure registration form. If you prefer, you can also reach out to one of our account managers who will assist you in completing the registration process promptly or send you a hardcopy form via mail. Registration typically takes only a few minutes. Rest assured, the information you provide will be used for Know Your Customer and Anti Money Laundering checks.
Upon successful completion, you will receive a welcome email, and your dedicated relationship manager will promptly reach out to you to discuss your needs and ensure that the rates and service you receive are of the highest caliber.
Certainly. Kindly refer to the "Forward Contracts" section on our Products & Services page for more information.
Feel free to reach out to us to obtain a comprehensive list of all the currencies we can exchange on your behalf. We'll be happy to assist you further.
HELP & SUPPORT
If you require any further assistance, please contact us on the following:
+44 204 600 0540
or via email at support@metaxpayments.co.uk