MARCH 2011 |
www.opp.org.uk
OPP AWARDS AWARDS for Excellence 2010 | 57
“Moneycorp provides tailored services to help companies and individuals save money on their overseas currency transfers,” says the company.
“Clients benefi t from a personal Account Manager, who they can contact directly and who will provide regular updates on exchange rate movements. They also benefi t from extended offi ce hours six days a week and 24-hour exchange rate monitoring. A range of services are available.”
The Royal Bank of Scotland (RBS) Special Opportunities Fund is a signifi cant shareholder in the Group.
Moneycorp is a trading name of TTT Moneycorp Limited, which has been dealing in foreign exchange since 1979 and last year traded over £11 billion in currencies. The company has been accredited to ISO 9000 Quality Assurance certifi cation since 1996 – a unique achievement in the foreign exchange industry.
Best Currency Company Silver Medal Winner:
Moneycorp
“Our mission is to be expert in all that we do,” Moneycorp told the OPP judges, “accessible to our customers and pioneering in our technology, products and services. Our aim is to continue to set the standards within the foreign exchange and global payment markets.” “We now have nearly 600 employees and served over 2.8 million customers last year. We have also maintained ISO 9000 Quality Assurance certifi cation since 1996 – a unique achievement in the foreign exchange industry.” “We continually strive to maximise the amount of foreign currency our clients receive, which means offering competitive exchange rates. We carry out monthly exchange rate comparisons against the high street banks and come out on top on most occasions. For example, based on transferring £100,000 into euros at 4:20pm (UK Time) on 23 July 2010, a client would receive €118,150 from Moneycorp, compared to an average of €115,421.25 from the high street banks (HSBC, Lloyds TSB, Barclays and
NatWest). That’s an average saving of €2,728.75,” says the company. Training
All Moneycorp dealers are MSTA qualifi ed and work with clients to make sure they are making their transactions at the right time, using the most appropriate products available. “Exchange rates can fl uctuate by 10% in a matter of weeks,” says Moneycorp, “so making transfers at the right time can make a big difference to the cost of an overseas property.”
The broker is always looking to further develop and improve its diverse product range. “This year we introduced an online payment system for our clients, as well as a suite of options products. We have bureaux de change located throughout Central London and at Gatwick, Stansted and Southampton airports, where clients can benefi t from improved exchange rates and other special offers with the Moneycorp Privilege Card.” “For clients buying property in Brazil,
“Our aim is to continue to set the standards within the foreign exchange and global payment markets”
this year we partnered with a major Brazilian bank to create a dedicated Brazilian real transfer service.” Communications “We put a lot of effort into marketing our services to overseas property buyers. Whilst it is relatively easy to sell a service that has so many financial benefits, we still strive to ensure our communications remain clear and creative – so that people know we are their number one currency provider.” “Our advertising initiatives are
aimed at clients looking to purchase property throughout the world, including Spain, France, USA, Canada, Portugal, Australia and New Zealand. We are continually adapting our marketing material for the overseas property industry and this year launched a new advertising concept highlighting the importance of cost-effective foreign exchange for property buyers. We are also
serious about social media and invite our clients to receive updates posted on our Facebook page and Twitter feed.” To help keep Moneycorp on
the right track, its runs a biannual customer satisfaction survey in order to help highlight how the needs of its customers are changing. They research “allows us to adapt accordingly,” says Moneycorp. For instance, says the company, “the June 2010 survey showed that 95% of clients believed they saved money by using our services and that 99% of clients would recommend our services to their friends or family. It also highlighted that the number of people who would prefer to talk to us on the phone has increased – probably because some of our key competitors are forcing people to use their online systems. At Moneycorp, we believe that our clients should be able to contact us in whatever way is most convenient to them. So, we make sure that we are available over the phone, online – via our web chat facility – or via email. We also operate extended opening hours, including evenings, Saturdays and most Bank Holidays.” Client referrals “This foundation of client confidence gave us a great opportunity to develop a successful client referral scheme. We currently offer our clients a £25 Amazon voucher whenever they refer a friend or family member to
Moneycorp – and the new client gets one too! We also offer rewards and special benefits to clients who refer companies to us.” Moneycorp has a giant partner referral operation with 36 account managers, across five countries, all working with clients ranging from small sole traders, right through to large financial institutions. “A key development has been our innovative ‘Partner Portal’, which provides our partners with live updates on the status of any leads and accounts they have passed through to us – along with monthly commission reports,” says Moneycorp. “The Partner Portal includes a
‘Sales Toolkit’, providing access to our marketing material, both online and offline, with a feedback facility which is constantly monitored.”
Transparent | open and clear communitcations are vital says Moneycorp
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