Frequently asked questions

We've compiled this list of frequently asked questions relating to the services we provide. If your question isn't answered below or if you'd like to discuss anything else with us please get in touch and we'll be happy to help.

General

How can I trust Moneybee?

We like to think that our glowing reviews speak for themselves, but we don't blame you for being cautious if you've never heard of us so here's some of our credentials and experience:

Our parent company Viridian Holdings Limited has been marketing foreign exchange services since 2010 and has partnerships with all of the biggest travel money suppliers here in the UK. We operate travel money businesses in the UK, Ireland, Germany and Australia and every year we're trusted by over 8 million travellers to find the best currency deals.

Our foreign exchange services are provided by Sterling Consortium Limited who have been supplying banknotes and currency since 1972. Sterling have a well-established history of selling travel money online and in-store from their branch in central London, and over the past 35 years they have transacted over £1 billion worth of currency and are trusted by over 300,000 clients across the UK. You can find Sterling on the FCA register under registration number 504439.

How safe is my money and what financial protection do I have?

The financial protection you receive depends on how you pay for your currency so it's important that you take note of the following:

If you pay by debit card your funds are protected under your card issuer's product and service rules. If we went bust you could instruct your bank to make a chargeback request against our bank which means you have a good chance of recovering your money.

If you pay by credit card you have full legal protection under section 75 of the Consumer Credit Act. Section 75 states that your card issuer would be equally liable to provide your currency if we didn't, which means your card issuer would be legally required to reimburse you for the full amount (from £100 to a maximum of £30,000) if we went bust.

If you pay by bank transfer you would not automatically receive any financial protection, and for this reason we recommend you pay by card whenever possible. However, all of our customer funds are kept in a dedicated client account which is completely separate from our day-to-day business accounts for your peace of mind.

What data do you collect?

For information on the data we collect, please refer to our Privacy Policy.

Travel money

How do I buy currency with Moneybee?

Ordering is simple. Go to our travel money page, select the currency and amount you want to buy then simply follow the instructions to complete your order. You'll need to create an account with us as part of the ordering process which you can then use to check on the status of your order, view your order history and change or update your personal details.

Do you have a store or location where I can collect my order from?

Not at this time. We can only post orders to your home address.

Are there any limits to the amount of currency I can order?

Travel money orders are subject to a maximum limit of £7,500 per day. If you need to purchase more than this, you can place your order over multiple days or contact us for further options - we may be able to secure you an even better rate.

I did not receive a confirmation email after placing my order?

If you haven't received any emails from us after placing an order you should try logging into your account first to see if we've received it. Go to your order history and you'll see a summary of all the orders you've placed along with the status of each. If your order does not appear here then we haven't received it and you'll need to place it again. If is listed here you don't need to do anything but you might want to check your spam / junk folders in case your email provider has mislabeled our emails.

If you can't login to your account you might have entered your email address incorrectly during the registration process - in which case please contact us and we can easily fix this.

Why has my order been cancelled?

Orders can be cancelled due to a variety of reasons, for example:

  • Your delivery address was different to the address your card is registered to.
  • You selected our Low Cost service but did not pay in a timely fashion.
  • The currency you ordered ran out of stock due to unprecedented demand or some other unforeseen circumstance.

We may be able to shed some light on why your order was cancelled and / or help you to place a new order. Please contact us for more help.

Why can't you authenticate my address?

We use electronic methods to identify you at your current address. If you've received an authentication error message whilst opening an account or placing an order, please ensure that you use your full name as it appears on your photographic ID (driving licence or passport) and that your date of birth has been entered correctly.

If you've recently moved house or changed your address it's possible that the sources we use to verify your address haven't been updated and therefore you may fail the check. If this happens we'll send you an email asking for further information.

How can I pay for my currency?

If you select our Low Cost service you must pay for your order by Bank Transfer. As soon as you place your order we'll lock in your exchange rate and send you our client account details with Lloyds bank along with instructions on how to pay. You'll need to use online or telephone banking to send the money to us and we'll send you an email as soon as your funds have cleared. Please note that we do not accept cash deposits into our account.

If you select our Rapid Delivery service, you can pay for your order by credit or debit card. We'll instruct you on how to pay when you place your order and will send you a confirmation email as soon as your payment has been approved.

I have paid by bank transfer but did not receive a confirmation email?

Firstly, check that you've received at least one email from us (you should have received an email when you placed your order) - if you haven't, see I did not receive a confirmation email after placing my order. If you have, login to your online banking and check that the payment has left your account and that the sort code and account number you made the payment to matches the details we gave you when you placed the order.

Secondly, check that you have paid us from your own personal account and not a third party account (e.g. a family member or friend's account).

Finally, check that you have entered the correct reference number when you made the payment. If you didn't, we'll still receive the funds but we won't be able to match them to your order until the end of the day once all other payments have been accounted for.

If you're still experiencing problems or if you're worried about a payment, please contact us so we can investigate further.

My card payment was rejected despite having sufficient funds in my account?

Sometimes banks will flag unusual or large payments as suspicious and will block the transaction before the payment is sent. If your bank / card issuer does block a transaction they will usually notify you or ask you to confirm the payment, but not always. If your payment was declined you should speak to your bank / card issuer for more information.

How is my currency sent and what happens if my order goes missing in the post?

All orders are packed in a tamper-proof envelope and sent securely using Royal Mail Special Delivery which is fully insured for the full value of your order. Royal Mail guarantee all Special Delivery items to arrive on the Next Working Day and somebody will need to be at your home to sign for the package when it arrives. It is very rare for Royal Mail to lose a Special Delivery package - they are fully tracked from the moment they leave our facility - but in the unlikely event your order is lost in transit you will be refunded the entire cost of your order including postage.

Can I get my currency sent to a different address?

No, unfortunately for insurance purposes we can only send your currency to your home / billing address.

My currency did not arrive on the day I selected?

Firstly, please check that you've received a dispatch notification email from us. If you haven't, please log in to your account and check your order history to see if we've dispatched it.

If you received a dispatch notification email but have not received your currency by 1pm on the next working day please contact us and we'll investigate immediately for you.

Can I track my package?

Sure, just visit the Royal Mail Track and Trace page and enter the unique tracking reference we gave you to track your order.

What happens if I am out when my currency is delivered?

If nobody is home when your currency is delivered, Royal Mail will take your order to the nearest sorting office for you to collect in person. They'll leave a calling card with details of the sorting office, and you'll also have the option of arranging a free re-delivery at a day that's more convenient for you.

Why have I received a Compliance Email?

As a licensed money service business, our foreign exchange provider Sterling Consortium Limited must adhere to strict anti money laundering procedures. It is our duty to prevent and reduce the risk of money laundering on our platform whilst ensuring that you receive a seamless and stress free experience. We therefore may request further information from you when our internal systems alert us that you have reached some of our thresholds. Once we receive a satisfactory response from you, our internal compliance team will release your order for processing. If you have any questions regarding compliance, please contact us for further information.

How do I update my address or other personal information?

You can update your address and other personal details by singing in to your account.

If you change your address we'll conduct an electronic verification when you place your next order. If we have any difficulty in authenticating you at your new address, we may ask for some additional information such as a scanned copy of your photo ID (passport or drivers licence) and proof of your new address (utility bill or bank statement).

How do I deactivate my account with Moneybee

You can deactivate your Moneybee account by singing in and clicking on the 'My Account' section of the dashboard where you'll see an option to deactivate.

Currency buyback

How do I send you my currency securely?

You should package your currency in a tamper proof plastic envelope which you can buy from any Post Office or stationary shop. These waterproof envelopes are extremely durable and are the same envelopes we use to send out currency if you order travel money from us.

Take your sealed envelope into the Post Office and ask to send it via Special Delivery. The Post Office clerk will insure the package for the full value of the contents and you'll be given a receipt containing a tracking number so you can track your package all the way to our door where we'll have to sign for it. Once we've received your package we'll drop you an email to let you know.

Note: keep hold of your tracking receipt from the Post Office - in the unlikely event that your currency goes missing in the post, Royal Mail will refund you for the entire value you insured it for.

What happens if my currency goes missing in the post?

You should only send your currency using Royal Mail's Special Delivery service which is fully tracked and insured.

Special Delivery packages rarely go missing in the post because they are tracked right up to our door where we have to sign for it, but in the unlikely event that your currency doesn't arrive, Royal Mail will refund you for the entire value you insured it for. Keep hold of your tracking receipt from the Post Office because this is your proof of postage and will allow you to track the package and make a claim if it isn't delivered.

How can I be sure you will pay me for all of the currency I send you?

Our trained staff open all packages in full view of HD CCTV cameras and count every note as they are removed from the package. Our counting facilities have the strictest security measures in place and we have well-established processes for counting and exchanging currency so you can relax knowing that your order will be processed in a fully accountable manner.

What happens if the exchange rate changes while my currency is in the post?

We will always use the prevailing buy back rate at the time we receive your currency.

How and when will I be paid?

As soon as your currency has been counted and processed, your order will be passed to our accounts team for release. You can expect to receive the funds in your bank account within three working days, although our average processing time is usually much quicker. Keep an eye on your inbox for automatic updates as your order is processed.

Do you buy back 500 euro notes and other large denomination currencies?

Yes, we do accept 500 euro and other large denomination notes, however they will be subject to an additional 3% processing fee. This is because we get charged significantly more to repatriate these notes back to mainland Europe as they cannot be sold to customers within the UK. If you have any questions or concerns about selling large denomination notes please contact us beforehand.

Do you buy back coins?

No, regrettably we do not buy back coins because they are too heavy to process in bulk and we cannot exchange them back at the bank. If you have leftover foreign coins, we suggest you keep them for a future holiday or donate them to charity who will be glad to accept them.