Rutland FX is Rated ‘Excellent’ on Google & Trustpilot

Straightforward and hassle-freeAmin Shaikh

The entire process, from making trades to handling the required documentation, is straightforward and hassle-free. Rutland FX has made currency exchange seamless and efficient for me. All in all, this company is fantastic, and I highly recommend their services!

Outstanding Service and Competitive RatesElliot Robertson

I am thoroughly impressed with the service and competitive rates provided by Rutland.FX. Their professionalism and efficiency have exceeded my expectations, and I am confident in continuing to use their services in the future.

A Great Efficient ServiceArz Ozlem

A great efficient service we used to pay for our abroad wedding. Leigh was incredibly helpful and talked me through the whole process. Felt reassured throughout and will be using their service again for future payments. I would highly recommend!

Easy to use Money Transfer PlatformKerry

Easy to use money transfer platform with great rates! Highly recommend.

Better Rates Than My BankEbony Reid

Better rates than my bank and the transfer arrived quickly. Customer service was amazing! Definitely using again!!!

The Portal Was Easy to use!Leonie Haynes -Moses

Great customer service, they walked me through the process and the portal was easy to use!

Excellent and Efficient CompanyMichael Fennell

I can without any doubt in my mind recommend this company as a trusted partner in transferring your funds between countries.

We Have Used Rutland For Around 5 YearsPaul Forsyth

We have used Rutland for around 5 years now and have always found them prompt, efficient and Happy to recommend!

Excellent ServiceIstvan Bartok

Rutland has consistently provided me with excellent service. Their support team is responsive, and their rates are competitive.

Good Personal ServiceKirsty Murphy

Good personal service at competitive rates, been using Rutland for over 3 years now and always dependable and responsive

Compare Currency Exchange Rates For Buying $25,000 US Dollars

rutlandfx

Rutland FX Fee & Exchange Rate

Payment Fee: NONE

Exchange Rate: 1.2645 The exchange rate displayed for Rutland FX is an indicative rate. The rate you will receive from us is volume dependent. To get a live quote, please log into your account or contact our sales team.

Cost for $25,000 USD

£19,771.25

barclays

Barclays Fee & Exchange Rate

Payment Fee: £25

Exchange Rate: 1.2297 The exchange rates shown for this bank are for comparative purposes only. Actual rates may vary for more information about this data please click here

2.75% below the mid-market rate

Cost for $25,000 USD

£20,305.34

Save up to £534.08 with Rutland FX


HSBC Fee & Exchange Rate

Payment Fee: £5

Exchange Rate: 1.2291 The exchange rates shown for this bank are for comparative purposes only. Actual rates may vary for more information about this data please click here

2.8% below the mid-market rate

Cost for $25,000 USD

£20,335.80

Save up to £564.54 with Rutland FX


natwest

NatWest Fee & Exchange Rate

Payment Fee: £15

Exchange Rate: 1.2139 The exchange rates shown for this bank are for comparative purposes only. Actual rates may vary for more information about this data please click here

4% below the mid-market rate

Cost for $25,000 USD

£20,580.06

Save up to £808.80 with Rutland FX


santander

Santander Fee & Exchange Rate

Payment Fee: £25

Exchange Rate: 1.2329 The exchange rates shown for this bank are for comparative purposes only. Actual rates may vary for more information about this data please click here

2.5% below the mid-market rate

Cost for $25,000 USD

£20,253.21

Save up to £481.96 with Rutland FX


Lloyds Fee & Exchange Rate

Payment Fee: £9.50

Exchange Rate: 1.2196 The exchange rates shown for this bank are for comparative purposes only. Actual rates may vary for more information about this data please click here

3.55% below the mid-market rate

Cost for $25,000 USD

£20,489.47

Save up to £718.21 with Rutland FX


The table above is a currency exchange comparison to illustrate the cost in pounds for buying 25,000 US Dollars with Rutland FX against various high street banks to help you compare exchange rates. For more detailed information about the data shown in this table, please see our comparison information page.

How We Keep Your Money Safe

FCA-Regulated

FCA Regulation

Rutland FX is a UK-based FinTech company incorporated in 2016. Rutland FX is powered by Currencycloud, a Visa subsidiary. Currencycloud is regulated by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI) under firm reference number 900199.

Onfido

Account Security

To secure your account, we implement strong customer authentication in compliance with the Payment Services Regulations 2017. We use Onfido for identity verification and fraud prevention, ensuring the authenticity of government-issued IDs.

2-Factor

Multi-Factor Authentication

Access to your Rutland FX account requires Two-Factor Authentication (2FA) via Authy or SMS. Outbound payments to new payees will also require Two-Factor Authentication (2FA) for added security.

How to Send Money Abroad with Rutland FX?

It’s easy to send money abroad with Rutland FX. Businesses and individuals can sign up for an account for free, as long as you meet the criteria listed on our application guidelines page. Once you’re all set up, you can make currency conversions and global money transfers directly on the platform. Our goal is to simplify finding the best international money transfer options for you. If you prefer, you can also contact your account executive for assistance.

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USD-Multi-Currency-Account

What Details Do I Need for an International Bank Transfer?

The bank details required for an international remittance will depend on:

  • Where you are sending the money
  • What currency you are sending
  • Whether it’s via the SWIFT network or one of our local payment routes

Usually, you’ll need the recipient’s full name or company name, address, IBAN number, and BIC/SWIFT code. However, that’s not always the case. For example, when making an international currency exchange from GBP to USD to the USA, you may require an account number or ABA number.

The platform will always show you what information is needed. However, if you’re still not sure, you can contact support or your account executive for assistance.

What is the Fastest Way to Send Money Abroad?

The fastest way to send money internationally is via SWIFT GPI. This method is highly efficient, with 40% of payments arriving in less than 5 minutes and the majority of payments arriving within 24 hours. With SWIFT GPI, it’s possible to make an instant international money transfer in some cases. SWIFT GPI also makes it easy to track the progress of your payments through the SWIFT network, providing transparency for your international bank transfer. You can track your payment directly on the platform.

To make a payment via SWIFT GPI with Rutland FX, simply select “Priority Payment.” If available for your transaction, SWIFT GPI will be enabled automatically so you can make a quick international money transfer.

what-is-SWIFT-GPI
rutland-payees

How Long Do International Bank Transfers Take?

The duration of international bank transfers depends on the method used for the transfer and the receiving bank’s processing times. If you transfer money abroad using local payment routes, it usually takes 1-3 days. However, paying via SWIFT gpi can be instant in some cases, though the majority of transfers will arrive within a few hours. Additionally, the receiving bank’s processing times can also affect the overall time it takes for the funds to be available.

Multi-Currency Accounts

Rutland FX offers free UK-based multi-currency accounts in your name or your business’s name, designed to make managing your international finances easier. Whether you’re a business dealing with multiple currencies or an individual with overseas interests, our multi-currency accounts provide a convenient solution, allowing you to receive funds and hold balances in multiple currencies until you need to send them out, simplifying cash management and reconciliation.

Free_Multi_Currency_Accounts

Start Sending Money with Rutland FX

Sign Up Online

Tell us about yourself! Are you a business or a private individual? What countries do you plan to send or receive money from, what currencies do you need, and what volumes do you expect to send with Rutland FX?

Onboarding Review

Our dedicated onboarding team will review your application quickly and inform you if we need any additional information, such as an ID or a bank statement. Once that’s sorted, your account will be activated and ready to go!

Send Money Globally

You’re all set! Enjoy transferring money to over 170 countries and receiving funds in over 35 currencies from more than 120 countries, all with no payment fees and competitive exchange rates.

Send Money Globally With Rutland FX

Send-Money-To-Austria
Send Money to Austria
Send-Money-to-Belgium
Send Money to Belgium
czech-republic
Send Money To Czech Republic
denmark
Send Money To Denmark
ecuador
Send Money To Ecuador
el-salvador
Send Money To El Salvador
finland
Send Money To Finland
greece
Send Money To Greece
hong-kong
Send Money To Hong Kong
hungary
Send Money To Hungary
indonesia
Send Money To Indonesia
ireland
Send Money To Ireland
italy
Send Money To Italy
Send Money To Japan
kenya
Send Money To Kenya
kuwait
Send Money To Kuwait
latvia
Send Money To Latvia
lithuania
Send Money To Lithuania
luxembourg
Send Money To Luxembourg
malaysia
Send Money To Malaysia
malta
Send Money To Malta
mexico
Send Money To Mexico
netherlands
Send Money To Netherlands
new-zealand
Send Money To New Zealand
norway
Send Money To Norway
oman
Send Money To Oman
palestine
Send Money To Palestine
poland
Send Money To Poland
portugal
Send Money To Portugal
puerto-rico
Send Money To Puerto Rico
qatar
Send Money To Qatar
romania
Send Money To Romania
Send-Money-To-Saudi-Arabia
Send Money To Saudi Arabia
singapore
Send Money To Singapore
sint-eustatius
Send Money To Sint Eustatius
slovakia
Send Money To Slovakia
slovenia
Send Money To Slovenia
sweden
Send Money To Sweden
switzerland
Send Money To Switzerland
turkey
Send Money To Turkey
uganda
Send Money To Uganda
united-arab-emirates
Send Money To United Arab Emirates
united-states
Send Money To United States
Send Money To Vietnam

For a full list of countries you can send money to with Rutland FX, please visit our payment guide page.

Ready To Get Started With Rutland FX?

Get Started
Landing-Hero-rutland

FAQs: Sending Money Abroad

What is an IBAN?

An IBAN (International Bank Account Number) is a unique identifier used in international transactions to identify a specific bank account. It ensures that money is directed to the correct account during cross-border transfers. The IBAN is structured as follows:

  • The first two letters represent the country code.
  • The next two digits are check digits.
  • The remaining characters represent the bank account number.

For example, an IBAN for a UK account might look like this: GB29 NWBK 6016 1331 9268 19.

What is a SWIFT Code?

A SWIFT code, also known as a BIC (Bank Identifier Code), is a standard format for Business Identifier Codes approved by the International Organization for Standardization (ISO). It is used to identify banks and financial institutions globally. A SWIFT code consists of 8 or 11 characters:

  • The first four letters represent the bank.
  • The next two letters represent the country.
  • The next two characters represent the location.
  • The last three characters (optional) represent the branch.

For example, a SWIFT code for Barclays Bank in London might look like this: BARCGB22.

Is SWIFT and BIC the Same Thing?

Yes, SWIFT and BIC are the same thing. SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes are also known as BIC (Bank Identifier Codes). They are used to identify banks and financial institutions globally for international transactions.

What is the Difference Between SWIFT and Local Payment Routes?

The SWIFT network is the primary and default method for facilitating international payments because it offers speed, traceability, and recallability. With SWIFT, you can track payments along their journey, monitor their delivery status, and there are no limits on the amount you can transfer.

Local payment routes, on the other hand, are used for domestic transactions within a specific country. These may be slower and are not traceable or recallable like SWIFT payments. Additionally, local payment routes often have lower fees compared to international SWIFT transfers.

Can I Receive Funds from Abroad?

Yes, we can provide you with a multi-currency account that supports SWIFT transfers. This is particularly useful if you are selling property or assets abroad and need to repatriate funds at a better exchange rate. However, we can only onboard you as a customer if you are a citizen or have a residence in, or if your business is registered in, one of the supported countries.

Are There Any Limits on the Amount of Money I Can Transfer Abroad?

There are currently no transfer limits on SWIFT payments with our service. This means you can settle large invoices or move substantial amounts of money with ease using our platform. However, some local payment routes have limits, so please check on the platform or with your account executive.

How Do I Track the Status of My Transfer Abroad?

If your transfer is sent as a priority payment and is SWIFT gpi enabled, you will be able to track the transfer directly on the platform. Alternatively, you can contact your account executive for assistance. You will be able to see the full journey of the transfer along the SWIFT network, detailing how long it took to arrive and any deductions taken by correspondent banks, if any.

How Do I Cancel or Amend a Transfer Abroad After It Has Been Initiated?

You should always double-check bank details and ensure you want to dispatch a payment before sending funds internationally to avoid delays. However, on some occasions, you may want to cancel a payment. If a payment has been instructed on your account but has not yet been dispatched, you can cancel it on the platform or by contacting support.

If the payment has already been dispatched and the funds have gone to a trusted recipient, the fastest way to get the funds back would be to ask the recipient to send it back to your account. If not, we can action a recall on the funds; however, this is not guaranteed and may require consent from the recipient if the funds have credited their account.

How Can I Contact Support?

We offer live support via telephone and email. Email support is available 24 hours a day, ensuring you can get assistance at any time. Telephone support is available during UK business hours, from 8:30 AM to 5:30 PM.

How Are My Funds Protected?

As an Electronic Money Institution (EMI), Currency Cloud is obligated to maintain adequate capital reserves and ensure the proper safeguarding of customer funds. All funds received in relation to electronic money will be safeguarded in tier-one credit institutions such as Barclays Bank PLC. This ensures that in the unlikely event of our insolvency, administrators would reimburse your funds from the safeguarded funds.