Fig portfolio company The Money Cloud, have launched their new foreign exchange transfer comparison site. It is set to revolutionise the way consumers buy and exchange currencies.
Founders, Huw Jenkins and Emmanuel Addy, set up the world’s first international money transfer comparison site in 2004 and have continued to be at the forefront of the industry ever since.
In the past the international money marketplace has been plagued with hidden charges, complicated terms and conditions and a lack of clear, educative resources, which has made it difficult for consumers to find the cheapest way to send money.
The Money Cloud seeks to change this by using a transparent approach. They only display live, true exchange rates – rather than the rates that the banks only give each other, which is what is usually advertised. Alongside the rates they will show user ratings, unbiased reviews, safety measures and transfer timescales to allow customers to make informed decisions.
The Money Cloud also publishes blogs and guides, to give clear instruction on a range of financial topics, from how to make the most of your international money transfers to explaining new financial regulators, such as the Payment Systems Regulator.
Congratulations to The Money Cloud team, after months of long days and very hard work!