Frequently Asked Questions

Business FAQS

Here you will find the answers to the most frequently asked questions from our business clients.

Can’t find what you’re looking for? Get in contact with our UK corporate team who will be happy to answer any questions you may have. Call 020 7220 8182 or email

How does it work?

Making an international payment is easy with RationalFX. In just 4 steps, you can send money to more than 170 countries around the world.

  1. Open a free business account with us.
  2. Book a deal online or with one of our friendly dealers.
  3. Pay for your transaction by either bank transfer or card payment (limits apply).
  4. We’ll process your payment onto your beneficiary provided.

How long will my business’s bank-to-bank transfer take?

This depends on how long your funds take to reach us. Once your funds have been cleared, we will transfer the required currency to the recipient’s bank account.

We can offer a same day and next working day transfer service for selected currencies. The timings of your transaction will be advised when you initiate the payment.

Different currencies and time zones may vary the time for the funds to reach and be cleared by the designated bank.

What costs may occur during the transaction?

We are always open and transparent about any fees that you may encounter. The main types of fees are:

Transfer fees
This will be charged on any payments made through our online platform. The fee amount varies depending on the currencies and countries involved. We aim to keep transfer fees as low as possible and only charge a small online transaction fee of £4 or €5 (or equivalent in your sending currency), and this is waived when using our Regular Payment service.

Debit/credit card payment fees
All business card payments from a non-EEA country will have an additional surcharge of 2.5%.

For more information about transfer fees, please visit our fees and charges page (link to fees page).

External fees
Some payments go via an intermediary bank, we advise you ask your beneficiary to liaise with their bank regarding any intermediary/beneficiary bank fees.

How can my business pay for the transfer?

To process your transaction and send money to your beneficiary, we need to receive your payment first.  

You can pay RationalFX using these methods:

  • Bank Transfer
  • Debit or Credit card (only available on the online platform)

Your chosen payment method must be registered under the name of the RationalFX business account holder. We accept third party payments if they have been approved by us prior to the payment. Please see our terms and conditions for more information about this.

Payments by bank transfer

Once your payment has been confirmed, we will send you a confirmation email which contains our account details.

If you live in Europe, you can process your payment to our UK bank account using a SEPA bank transfer. Additionally, we do have accounts based in certain countries in Europe and a local transfer would apply. If you are based outside of the UK you will need to send us an international payment.

Please note, GBP usually credits our account the same working day and all other major currencies can take 1-2 working days, please note these time scales can vary depending on the time funds are received by us.

Payments by debit or credit card

You can only make card payments through our online platform. Please be advised we have a maximum limit of £5,000 or equivalent to pay by debit/credit card.

Additional fees may apply if you pay by card, depending of the type of card and the country you are paying from. Please refer to the ‘What costs may occur during the transaction?’ section above.

How does RationalFX save me money?

RationalFX is an independent commercial foreign exchange provider. Trading millions of pounds a day ensures our banking counter parties offer us their  ‘wholesale rates’, allowing us to pass on the price benefit to our clients. Depending on the currency amount purchased, this could mean that you save from a few to several thousand pounds. RationalFX provides you with ‘commercial rates’ as opposed to the ‘tourist rates’ typically found at conventional high street banks.

I can’t find my country in the registration form – what does this mean?

If you can’t find your business’s registered country in the registration form when you create an account, this means that RationalFX do not support this country.

Please note, sending payments from the US is not supported by RationalFX, but we are working on this and it will hopefully be available soon.

What does it mean to be FCA authorised?

RationalFX is authorised by the Financial Conduct Authority for the provision of payment.

The role of the FCA includes protecting consumers and regulating the financial industry to ensure companies are transparent and adhere to their principles for good practice.

You can find out more about the FCA here.

What is IR35 compliance?

Essentially, the IR35 legislation (Off-Payroll) helps to ensure people who are employed by a company or person, such as contractors, freelancers and so on, pay taxes. This piece of legislation is very complex and is vital for companies that implement payroll or provide payroll services.

IR35 could apply if a worker or contractor provides services through a limited company, a partnership, a personal service. For more information, click here.

What does it mean to be registered by HMRC?

We are registered as a Money Service Business (MSB) with HM Revenue and Customs (HMRC) under the Money Laundering Regulations 2017. This means we are annually audited to make sure we have robust measures in place to combat money laundering and are fully compliant with our legal and regulatory obligations.

Why do I need to verify my business account?

Business clients will not be able to make a transaction without a verified account. As a company authorised by the Financial Conduct Authority and regulated by HMRC, we follow anti-money laundering guidelines and regulations in order to protect your business.

How do I verify my business account?

Verification requirements are different for each company type. When you have created an account, we will advise you what we need for your particular type of business and legal structure.

Do I have to pay immediately?

Yes. If you are liaising with one of our corporate team, funds need to be sent into our account on the date specified.

Cancelling an online transaction

If you for any reason need to cancel a transaction, you may do so by logging into your RationalFX account and selecting the cancel option on your list of transactions.

If you can’t see the cancellation option, your currency has already been booked – please contact our Customer Support Team to discuss your options:, or call +44 20 7220 8181.

Please note, cancellation fees and chargers many apply as per our terms and conditions.

What are SEPA transfers?

Single Euro Payments Area is the method for cross-border euro bank transfers. SEPA payments are available in all EU countries and countries which support euro transfers.

You won’t see any difference between a local and a SEPA bank transfer. Our SEPA account is in the UK. We display the bank details on the confirmation page and in the confirmation email you receive at the end of your transaction.

SEPA payments are free and usually your bank won’t charge you for this transfer. We recommend that you always check with your bank before making a payment.

RationalFX will send the money to your recipient once your payment is received.