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Currency exchange FAQs

Here we seek to address some frequently asked questions about the Currency Service.

If you're unable to find what you're looking for, please do not hesitate to phone us on 0117 311 3257 (8.00am to 6.00pm Monday to Friday) or email us.

Applying


  • You can pay by phone with a debit card from an account in your name or by bank transfer using either CHAPS or faster payment.


  • If you would like your currency converted immediately you will need to pay at least 1% deposit by debit card. If you would like to fix the exchange rate for payment on a future date, you will typically be required to make a 10% deposit payment prior to giving your order.


  • Once you’ve applied for your Currency Service Account you can place your instruction online or by calling 0117 311 3257 (8am – 6pm Monday – Friday).


  • There is no commission on any payment and no transfer fees for transactions made online over £3,500 (£5 if under £3,500). For more complex currency requirements made over the telephone via our specialist team, there are no transfer fees for amounts over £10,000 (£15 if under £10,000).

    Regular transfers over £500 per month are free (£7 per month if under £500).


  • When you agree to enter into a foreign exchange transaction, you're committed to paying for the foreign currency in full. However, we do understand circumstances change, for example a property you are buying falls through. We'll do our best to help you by either extending or closing your contract. Altering your original transaction can often mean additional costs.


Currency transactions


  • There is no minimum transaction size for lump sum transactions made online.


  • You can choose to convert your currency immediately or to fix the exchange rate, if, for example, you have a set budget. If you choose to fix the exchange rate you can set it:

    • for a fixed date (between two days and up to two years ahead)
    • for a fixed period of time
    • for a flexible time period with multiple transfers

    We suggest you call us prior to placing your order on 0117 311 3257 so we can help you decide which type of order is best for your circumstances.


  • If you want your currency converted immediately you need cleared funds with us on the business day after you give us your order.

    If you want to fix the exchange rate for a future date you need cleared funds with us at least three working days before the settlement date.


  • Yes. You can set up a Direct Debit facility to make monthly transfers abroad. You can set up a monthly payment plan by speaking to one of our currency dealers on 0117 311 3257.


  • Providing we've received your payment on time, in most cases we'll send out the foreign currency on the settlement date. Where you have asked for the currency to be converted immediately this is normally two working days after you placed the instruction. If you have arranged a fixed exchange rate for a future date the funds will be transferred on the prearranged settlement date.


Security

The Hargreaves Lansdown Currency Service is a trading name of Hargreaves Lansdown Stockbrokers Limited, which is a wholly owned subsidiary of Hargreaves Lansdown Plc, One College Square South, Anchor Road, Bristol, BS1 5HL. Company Registered in England & Wales No. 1822701. Hargreaves Lansdown Currency Service is provided by Hargreaves Lansdown Stockbrokers Ltd which is authorised by the Financial Conduct Authority (FCA) as a Payment Institution under the Payment Services Regulations 2009. The Firm Reference number is 149970. You can look this up on the FCA register website. The marketing of the service is not regulated by the FCA.