Frequently asked questions

Swiftfox helps businesses and individuals exchange currency and send and receive international payments. You get an easy online platform you can use any time, backed by a dedicated account manager who knows you by name. Payment and e-money services are provided by The Currency Cloud Limited.

We work with business and personal clients across the UK, Europe and North America. Our eligibility guide shows where we can open accounts, and if you'd like to check anything, we're here on 0333 880 9760.

No. We're specialists in currency exchange and international payments. Payment and e-money services are provided by The Currency Cloud Limited, authorised by the FCA as an electronic money institution (FRN 900199).

Yes. Every client has a dedicated account manager who gets to know your needs. Most clients manage everything themselves on the platform, and whenever you'd like to talk, your account manager and our team are here by phone on 0333 880 9760 or by email at support@swiftfox.co.uk. Business clients can always call us directly.

Currency and international payments are all we do. You get competitive exchange rates, 37 currencies, payments to more than 180 countries and a platform you can use 24/7, plus a real person who knows your account.

Yes. The platform is available 24/7, so you can check balances, get quotes and manage payments whenever suits you.

Click Open an account, choose business or personal, and complete the short application. It takes just a few minutes. Our onboarding team will guide you through any checks and email you as soon as you're up and running.

Usually photo ID and proof of address, plus company and director details for business accounts. We'll tell you exactly what's needed, so there's no guesswork.

Most accounts are approved within one to three business days of receiving everything we need. We'll email you the moment you're approved.

There's nothing to pay to open or hold a business or personal account. We earn from the exchange rate on your transactions.

Sign in and click your name to update your contact details. To reset your password, use Forgotten password on the sign-in page. If you need a hand with anything, we're here on 0333 880 9760.

Yes. A director just needs to ask us, and we'll set up access for colleagues, with the right permissions for each person.

You can exchange 37 currencies and pay to more than 180 countries. You'll see every currency available to you on the platform.

Exchange rates move all the time with supply and demand, economic news and world events. That's why you see and agree your exact rate before every trade, and why many businesses fix a rate in advance with a forward contract.

Sign in and request a live quote in seconds. You'll see the exact rate before you agree to anything. If you'd rather talk it through, your account manager is here on 0333 880 9760.

Simply sign in and book your trade on the platform in a few clicks, around the clock from Monday to Friday. If you'd prefer to talk it through, your account manager is here on 0333 880 9760.

We earn from the exchange rate, which you see and agree before every trade. If a payment goes by SWIFT, the SWIFT fee is passed on at cost, and other banks along the way may make their own charges.

Yes. If you have a genuine payment coming up, you can fix a rate up to 12 months ahead with a forward contract. Your account manager will set it up with you.

A spot contract lets you exchange currency at today's rate, usually settled within one to two working days. It's the simplest way to convert and pay straight away.

A forward contract lets you fix today's exchange rate for a payment you need to make in the future, up to 12 months ahead. It gives you certainty over costs, whatever the markets do. A deposit is usually needed when you book, and your account manager will set it up with you.

Limits depend on your account and currencies, and you'll see them on the platform. Planning a large transfer? Your account manager will make sure it goes smoothly.

Send a bank transfer using the details shown in your account for that currency, including your payment reference. Your account manager can talk you through your first one.

Send us the amount, date and proof of payment at support@swiftfox.co.uk and we'll track it down for you. If you've forgotten your payment reference, let us know too. For SWIFT transfers, a tracking reference from your bank helps us find it even faster.

A local payment travels through the recipient country's own banking system, so it's usually faster and has no extra charges. A SWIFT payment goes through the international banking network, which reaches almost anywhere in the world. A SWIFT fee is passed on at cost, and other banks along the way may charge too. We'll always use the best route for your payment.

Go to Beneficiaries, choose Add, and enter your recipient's name and bank details. The platform tells you exactly which details are needed. Once saved, you can reuse, edit or delete them at any time.

Sign in, choose Create a payment, pick the currency, amount and recipient, then review and confirm. It takes moments. If you'd like a hand, we're here on 0333 880 9760.

Yes. Share the receiving details shown in your account, and money from customers or family abroad comes straight into your currency balance.

We cannot send payments to or receive funds from Crimea, Libya, Sudan, Cuba, North Korea, Syria, Iran or South Sudan.

Restrictions may change. Additional restrictions apply to local US dollar payments. Contact our team to confirm whether your payment is supported.

Sometimes another bank along the way, or the recipient's bank, deducts its own charge. These aren't Swiftfox charges, and we'll gladly help you check what happened.

Most payments arrive the same or next working day. The platform shows the deadline for same-day payment when you create it. Weekends and bank holidays can add time, and we'll always tell you upfront if a payment will take longer.

Sign in to see the live status of every payment, and track SWIFT payments right through to the recipient's bank. Or just ask us, and we'll check for you.

Yes. We can provide an MT103 confirmation for any SWIFT payment. Just ask your account manager.

Each payment shows a simple status as it progresses. "Completed" in your payment history means the payment has been sent, and for SWIFT payments the tracker confirms when it has reached the recipient's account. If any status is unclear, we're happy to explain.

Usually it's a bank holiday, missing recipient details or a routine check. You can see its latest status on the platform, and if you need us, we're here on 0333 880 9760 to find out exactly where it is.

Payment and e-money services are provided by The Currency Cloud Limited, authorised by the FCA as an electronic money institution (FRN 900199). Our partner/payment services provider Currencycloud has been acquired by Visa Inc. The platform has processed more than $100bn in transactions.

Currencycloud safeguards your funds, keeping them separate from its own money.

Verifying who you are protects you and your money from fraud. It's quick, and we'll tell you exactly what we need. From time to time we may ask you to confirm your details again, to keep your account secure.

We check payments to keep your money safe from fraud and financial crime. If we need anything, we'll email you, and a quick reply keeps things moving.

Call us straight away on 0333 880 9760 (+44 333 880 9760 from abroad) or email support@swiftfox.co.uk, and we'll act immediately. You should also report it to Action Fraud.

Call your account manager as soon as possible and we'll do everything we can to stop or change it. Once a payment has left, a recall can't be guaranteed, and cancelling an exchange may cost you if the rate has moved.

Call us straight away with your payment reference. We'll check where it is and work to get it corrected or returned to you.

Call 0333 880 9760, or email support@swiftfox.co.uk for trading and account queries and info@swiftfox.co.uk for general enquiries. You can also use our contact form. A real person will always help you.

We'd always like the chance to put things right. Call 0333 880 9760 or email support@swiftfox.co.uk, and see our Complaints and safeguarding page for the full process.

Swiftfox accepts applications for business and personal accounts from customers based in the following countries and territories, subject to eligibility and verification checks.

United Kingdom: United Kingdom

North America: United States and Canada, excluding Quebec

European Union: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden

Netherlands: Business accounts only

Other European countries: Iceland, Liechtenstein and Norway

Additional territories: Åland Islands, Gibraltar, French Guiana, Guadeloupe, Martinique, Mayotte, Réunion and Saint Martin (French part)

All applications are subject to approval. If you're unsure whether you or your business are eligible, please contact our team before applying.

We support most trading businesses. A few activities, such as gambling, crypto and weapons, are outside what we can offer. If you're unsure, get in touch before applying.

Laws, policies and checks designed to prevent criminals from disguising money from illegal activity as legitimate funds. We may carry out AML checks when you open an account or make payments.

A U.S. electronic payment network that processes transfers between bank accounts, including direct deposits and bill payments.

A bank that provides services to another bank, helping it make or receive payments in currencies or markets where it has no direct access. Correspondent banks may deduct charges from some payments.

A payment sent from a person or organisation in one country to a recipient in another. It may pass through one or more banks or payment networks.

A form of money used in a country or group of countries, such as the British pound or euro.

Two currencies shown together to express the price of one in terms of the other, such as GBP/USD. The first is the base currency; the second is the quote currency.

The agreed date when the currency bought in an exchange is due to be delivered to your account. This is separate from the date a later payment reaches its recipient.

The price of one currency expressed in another currency, for example how many euros you receive for one pound.

The UK payment system that enables participating banks and payment providers to send sterling payments, usually within seconds. Actual availability and timing depend on the providers and payment checks.

An exchange booked now for a future date, with the exchange rate agreed in advance. Availability depends on the currencies, account and applicable terms.

The standard three-letter code used to identify a currency, such as GBP for pounds sterling, EUR for euros and USD for U.S. dollars.

Identity and verification checks used to understand who a customer is and, where relevant, how they expect to use the service. Business checks may also be called KYB (Know Your Business).

A payment system used in a particular country or region to move money between participating banks or payment providers. Examples include ACH in the United States, Faster Payments in the UK and SEPA schemes for euro payments.

The person or organisation receiving a payment. Also called the beneficiary or recipient.

The person or organisation sending a payment.

The system and rules used to route and process payments between banks or payment providers. ACH, Faster Payments and SEPA are examples of payment schemes or networks; "rail" is an informal industry term.

The exchange rate offered for a particular currency conversion. The rate and how long it remains available are shown when you request a quote.

Legal restrictions imposed by governments or international bodies on dealings with certain countries, organisations or people. They can prohibit or limit financial transactions.

The agreed date on which the currencies in an exchange contract are paid or delivered between the parties. It does not necessarily mean that a separate payment has reached its recipient.

A group of countries and territories using common rules for euro payments. SEPA includes credit-transfer and direct-debit schemes; being in SEPA does not mean every provider offers every SEPA service.

A secure network that financial institutions use to exchange standardised financial messages. SWIFT does not itself hold or transfer the money; banks and payment providers carry out the payment.

An electronic payment sent between financial institutions. For international payments, banks may use SWIFT messages and correspondent banks, but "wire transfer" and "SWIFT" are not the same thing.