Frequently Asked Questions

If I return your application documents am I obligated to use your services?

By returning the Application Form and necessary identification documents you are under no obligation to use our services. However, by returning the documents we can open a trading facility for you. You can use this facility when and if you need to and you will be in a position to immediately take advantage of favourable exchange rates as they occur with no time delays.

How long will it take for Halo Financial to process my Application Form?

It is very simple to open a trading facility with Halo Financial. On receipt of a correctly completed Application Form we will open your trading facility the same day and usually within the hour. Delays can occur if the Application is incomplete or incorrectly filled out.

Why do I need to supply two identification documents?

We require two forms of identification from you in order to confirm your identity and where you live. These measures are in place to protect your interests and to prevent money laundering and the illegal movement of money. Halo Financial are a registered Money Service Business (MSB 12197454) and have strict Anti-Money Laundering and ‘Know Your Client (KYC)’ procedures in place in adherence to the Money Laundering Regulations 2003 and guidelines of HM Revenue & Customs.

How can you provide better exchange rates than my bank?

Halo Financial provide highly competitive exchange rates because we trade in high volumes and have the purchasing power to buy and sell currency at near Interbank prices. Because foreign exchange is our core business we have lower overheads than banks and other financial institutions that offer lending, insurance and other costly services so we can pass on these operational advantages through more competitive exchange rates. In addition, we work closely with our clients to assist them in best timing when they buy or sell currency. As the foreign exchange market is highly volatile with exchange rates fluctuating by the second, managing the timing of a transaction usually saves clients more money than any comparative competitor led quotation ever would.

What advantages do you offer over my bank?

We are usually initially contacted for the sole purpose of obtaining a better exchange rate and in the vast majority, if not all, cases that is exactly what we’ll do. However it soon becomes clear that there is more to getting a good exchange rate. The very personal relationship we develop with our clients enables us to develop a thorough understanding of their financial objectives. We allocate a dedicated currency expert to every client from the very start of the trading relationship. We are proud that our services are not supplied from overseas call centres nor do we operate automated call answering services. We are extremely customer focussed and our people strike the right balance between providing a highly professional currency service and recognising that our services need to be delivered in a very patient, meticulous and friendly way.

What currencies do you trade in?

Halo Financial can buy or sell the vast majority of freely tradable currencies.

Can I trade any amount through you?

As a growing company we are not in the habit of turning business away! However some of our services may be subject to minimum quantities so we recommend you contact us to discuss what you need us to do and we’ll make every effort to help.

Can I sell currency as well as buy it?

Yes we can. At Halo Financial we offer the very same service and competitive exchange rates for both buyers and sellers of currency and we hold client transaction accounts to facilitate this service.

If the exchange rate improves after I have verbally agreed a transaction with you can I take advantage of the better rate?

Once you have verbally agreed to buy or sell currency at a fixed exchange rate with your FX Dealer you are contractually obligated to honour that contract and pay for it in full. You will receive a written Contract Confirmation by email (or fax / post as agreed) from us which confirms the deal agreed in writing. We make every effort to ensure you transact at the very best available exchange rates however, if the exchange rate does improve you will not be able to alter the originally agreed exchange rate. To ensure that we carry out your instructions accurately, to help us to continually improve our service and in the interests of security, our telephone lines are digitally recorded and we may monitor these calls for training purposes or query resolution.

How much do you charge?

We only charge £15 to send your money anywhere in the world. This provides a significant saving over the fees charged by many banks which can be as high as £40 or currency equivalent. Also, unlike some foreign currency exchange companies we don’t offer free wire transfers and then hide the cost of the transfer within the price of your exchange rate. Our pricing is transparent and honest and we don’t charge any set-up fees or commissions.

How do I settle a contract?

Detailed settlement information can be found within this site. Please click here to visit the ‘International Payments and Settlements Assistance’ section.

How long will it take for my beneficiary to receive my money?

This depends on the currency being transferred and how fast the beneficiary bank credits the beneficiary account. Halo Financial transfer all funds as priority payments via the fastest transfer means available. We can send Pounds Sterling (GBP), US Dollar (USD), Euro (EUR) and Canadian Dollar (CAD) transfers for ‘same day’ value which in most instances will mean the beneficiary account will also be credited the same day. For the majority of other currencies including Australian Dollars (AUD), New Zealand Dollars (NZD), Hong Kong Dollars (HKD), Singapore Dollars (SGD), South African Rand (ZAR) and Japanese Yen (JPY) they are known as ‘next day’ currencies which in most cases will mean the beneficiary account will be credited one business day after you settle a contract.

Any other questions?

We appreciate that some of the information within this website may require further explanation or may have raised questions we haven’t yet answered. Please contact us and our expert dealers are always happy to help.

If you have any unanswered questions please call one of our team on +44 (0)20 7350 5474, send us an email or if you would like us to call you back when it is more convenient please use the Call me back facility.