How do I save money?

Misano Payments simply takes a smaller margin on your exchange than your bank. Savings are usually from 0.25% up to 4% of the amount being transferred.

Do you charge commission?

No. Misano Payments takes a margin on the exchange rate.

How does Misano Payments make money?

Banks and large financial institutions trade with each other in large amounts (e.g. amounts over £5m) at a rate called the interbank rate.  Misano Payments makes money on the difference between the rate we quote you and the interbank rate. This is known as a spread. We can pass this advantage on to our clients by generally taking a smaller spread than the banks. There is no hidden fee on top of the rate that we quote you.

How do I open and account with you and how long will it take?

First you need to accept our terms and conditions, which is done via the tick box on the first page when you click on the button to open an account for you or your business.

If you’re a UK resident we can usually verify your identity electronically. We can also do this for certain other countries. If we can’t verify your identity, we will require you to send:

•A copy of your passport or driving licence.

•A copy of a recent bank or credit card statement or a utility bill issued in the past three months.

It is possible to open an account and make your first trade within a couple of hours

If you set up an account you’re under no obligation to transact with us. But you’ll get a great rate whenever you do use us.

Can I fix an exchange rate for a future date?

Yes, this is called a forward contract. You can fix a rate today for any date from one week up to a year in the future. You might need to pay a deposit and pay the balance a day before the pre-agreed future date.

This can be ideal if you have to pay the balance on a foreign property in three months’ time and you want to know exactly how much your property will cost in pounds sterling.